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MICHIGAN LIFE AND HEALTH FINAL TEST EXAM AND PRACTICE
EXAM QUESTIONS LATEST 2025 ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
A producer's license has been suspended due to the failure of
completing required continuing education credits. The license
may be activated by completing the CE requirement within how
many days of the renewal date? - ANSWER-90
The type of multiple protection coverage that pays on the death of
the last person is called a(n) - ANSWER-Survivorship Life Policy
A rehabilitation benefit is intended to - ANSWER-Prepare the
insured to return to employment
Under the subrogation clause, legal action can be taken by the
insurer against the - ANSWER-Responsible Third Party
Which of these is NOT subject to income taxation under a
Modified Endowment Contract (MEC)? - ANSWER-Death Benefit
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When determining the exact cause of death from an accident,
which of the following actions by the insurer takes precedence? -
ANSWER-Autopsy
In order to save on premiums, a Life Insurance policy can legally
be backdated up to - ANSWER-6 months
What will the beneficiary if an annuitant dies during the
accumulation period? - ANSWER-The greater of the accumulated
cash value or the total premium paid
The typical long-term care insurance is designed to provide a
minimum of __ year(s) of coverage - ANSWER-Juan
When calculating the amount of life insurance needed for an
income earner, what has to be determined when using the Needs
Approach? - ANSWER-The family's financial objectives if the
income earner were to die or become disabled
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-When using the Needs Approach to determine the amount fo life
insurance needed for the income earner, it is necessary to
determine the family's financial objectives in the event of death or
disability of the income earner
Which of these statements about Medicaid is CORRECT -
ANSWER-Funded by federal, state and local taxes
Susan is insured through her Group Health Insurance plan and
changed her coverage to an individual plan with the same insurer
after her employment was terminated. This change is called a(n) -
ANSWER-Conversion
The unfair trade practice of using threat or force to restrict fair
trade in the transaction of insurance is called - ANSWER-
Intimidation
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
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benefit paid will be what the premium would have purchased at
the correct age
Which of the following individuals is REQUIRED to be licensed as
an insurance counselor in the State of Michigan? - ANSWER-A
person providing insurance advice to a person or business for a
fee
A policy owner may exercise which of these dividend options that
uses the dividend to pay all or part of the next premium due? -
ANSWER-Reduction of Premium Dividend Option
What is a corridor in relation to a Universal Life insurance policy?
- ANSWER-The gap between the total death benefit and the
policy's cash value
A licensee who informs an insured of inaccurate terms, benefits,
or advantages of any policy is committing which of the following
violations? - ANSWER-Misrepresentation
MICHIGAN LIFE AND HEALTH FINAL TEST EXAM AND PRACTICE
EXAM QUESTIONS LATEST 2025 ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (100% VERIFIED
ANSWERS) |ALREADY GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
A producer's license has been suspended due to the failure of
completing required continuing education credits. The license
may be activated by completing the CE requirement within how
many days of the renewal date? - ANSWER-90
The type of multiple protection coverage that pays on the death of
the last person is called a(n) - ANSWER-Survivorship Life Policy
A rehabilitation benefit is intended to - ANSWER-Prepare the
insured to return to employment
Under the subrogation clause, legal action can be taken by the
insurer against the - ANSWER-Responsible Third Party
Which of these is NOT subject to income taxation under a
Modified Endowment Contract (MEC)? - ANSWER-Death Benefit
,2|Page
When determining the exact cause of death from an accident,
which of the following actions by the insurer takes precedence? -
ANSWER-Autopsy
In order to save on premiums, a Life Insurance policy can legally
be backdated up to - ANSWER-6 months
What will the beneficiary if an annuitant dies during the
accumulation period? - ANSWER-The greater of the accumulated
cash value or the total premium paid
The typical long-term care insurance is designed to provide a
minimum of __ year(s) of coverage - ANSWER-Juan
When calculating the amount of life insurance needed for an
income earner, what has to be determined when using the Needs
Approach? - ANSWER-The family's financial objectives if the
income earner were to die or become disabled
,3|Page
-When using the Needs Approach to determine the amount fo life
insurance needed for the income earner, it is necessary to
determine the family's financial objectives in the event of death or
disability of the income earner
Which of these statements about Medicaid is CORRECT -
ANSWER-Funded by federal, state and local taxes
Susan is insured through her Group Health Insurance plan and
changed her coverage to an individual plan with the same insurer
after her employment was terminated. This change is called a(n) -
ANSWER-Conversion
The unfair trade practice of using threat or force to restrict fair
trade in the transaction of insurance is called - ANSWER-
Intimidation
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
, 4|Page
benefit paid will be what the premium would have purchased at
the correct age
Which of the following individuals is REQUIRED to be licensed as
an insurance counselor in the State of Michigan? - ANSWER-A
person providing insurance advice to a person or business for a
fee
A policy owner may exercise which of these dividend options that
uses the dividend to pay all or part of the next premium due? -
ANSWER-Reduction of Premium Dividend Option
What is a corridor in relation to a Universal Life insurance policy?
- ANSWER-The gap between the total death benefit and the
policy's cash value
A licensee who informs an insured of inaccurate terms, benefits,
or advantages of any policy is committing which of the following
violations? - ANSWER-Misrepresentation
