MICHIGAN LIFE AND HEALTH FINAL EXAM - QUESTIONS AND
CORRECT ANSWERS 2025/2026 (VERIFIED ANSWERS) ALREADY
GRADED A+ / NEWEST EXAM!!!
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called - ANSWERS-A self funded
plan
Ron has a life insurance policy with a face value of $100,000 and a cost of
living rider. If the consumer price index has gone up 4%, how much may
Ron increase the face value of the policy? - ANSWERS-$4,000
-$100,000 * .04=$4,000
A change in an insurance application requires - ANSWERS-an initial made
by the applicant
An applicant intentionally lying to an insurance company on an application
in order to obtain a cheaper premium is an example of
rebating
coercion
fraud
twisting - ANSWERS-fraud
the period in which there are no social security benefits for the surviving
spouse is called the - ANSWERS-blackout period
,-the blackout period begins when the youngest. child turns 16 and
continues until the spouse reaches age 60, at the earliest. if there are no
eligible children with the surviving spouse when the breadwinner dies, the
blackout period starts immediately
In the state of MI, a licensed producer - ANSWERS-represents the insurer
when an insurance licensee changes his or her address under the
Michigan insurance code, who must be notified? - ANSWERS-The
commissioner of the department of insurance
the legal action provision in a health contract is limited to no more than __
years - ANSWERS-5
Upon receiving a producer complaint, the commissioner may immediately -
ANSWERS-issue a cease and desist order
which of the following services MUST be provided by HMO plans -
ANSWERS-home health care
a father has a son who is mentally handicapped but not eligible for
Medicare. the son is dependent on his father. under which of the following
circumstances can the son remain on the fathers coverage after the age of
26. - ANSWERS-with written proof of disability and dependency
,How long must an individual be unable to engage in any gainful activity due
to physical or mental disability in order to qualify for Social Security Total
Disability. - ANSWERS-12 months
Health insurance will typically cover which of the following perils -
ANSWERS-injury due to accident
a person who is a nonsmoker, of average weight, and excellent health
would most likely be in which risk classification? - ANSWERS-preferred
A disability income policy can prevent an insured from earning a higher
income than if he/she were working by utilization - ANSWERS-benefit limits
which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death. - ANSWERS-
Human Life value
to receive proceeds from a death benefit, a minor - ANSWERS-must have
an appointed guardian
A partial surrender is allowed in which of the following policies -
ANSWERS-Universal life
what is the automatic continuance of insurance coverage referred to as? -
ANSWERS-renewal
, Major Medical insurance will typically cover medical expenses that result
from - ANSWERS-a negative reaction to prescribed medication
What is considered to be the primary reason for buying life insurance -
ANSWERS-provide death benefits
to qualify for a resident producer license in the state of MI, an individual -
ANSWERS-must complete the requires pre-licensing education within 12
months of licensing application
what is issued to each employer health plan - ANSWERS-certificate
which of the following decision would a Health Savings Account owner
NOT be able to make? - ANSWERS-the amount contributed by the
employee
Group health plans may deny participation based upon the - ANSWERS-
members part time employment status
-full time employees are typically eligible
Matt is applying for life insurance and requests a double indemnity rider. A
double indemnity benefit will be payable to Matt's beneficiary if Matt -
ANSWERS-dies instantly from a car accident
CORRECT ANSWERS 2025/2026 (VERIFIED ANSWERS) ALREADY
GRADED A+ / NEWEST EXAM!!!
A plan in which an employer pays insurance benefits from a fund derived
from the employer's current revenues is called - ANSWERS-A self funded
plan
Ron has a life insurance policy with a face value of $100,000 and a cost of
living rider. If the consumer price index has gone up 4%, how much may
Ron increase the face value of the policy? - ANSWERS-$4,000
-$100,000 * .04=$4,000
A change in an insurance application requires - ANSWERS-an initial made
by the applicant
An applicant intentionally lying to an insurance company on an application
in order to obtain a cheaper premium is an example of
rebating
coercion
fraud
twisting - ANSWERS-fraud
the period in which there are no social security benefits for the surviving
spouse is called the - ANSWERS-blackout period
,-the blackout period begins when the youngest. child turns 16 and
continues until the spouse reaches age 60, at the earliest. if there are no
eligible children with the surviving spouse when the breadwinner dies, the
blackout period starts immediately
In the state of MI, a licensed producer - ANSWERS-represents the insurer
when an insurance licensee changes his or her address under the
Michigan insurance code, who must be notified? - ANSWERS-The
commissioner of the department of insurance
the legal action provision in a health contract is limited to no more than __
years - ANSWERS-5
Upon receiving a producer complaint, the commissioner may immediately -
ANSWERS-issue a cease and desist order
which of the following services MUST be provided by HMO plans -
ANSWERS-home health care
a father has a son who is mentally handicapped but not eligible for
Medicare. the son is dependent on his father. under which of the following
circumstances can the son remain on the fathers coverage after the age of
26. - ANSWERS-with written proof of disability and dependency
,How long must an individual be unable to engage in any gainful activity due
to physical or mental disability in order to qualify for Social Security Total
Disability. - ANSWERS-12 months
Health insurance will typically cover which of the following perils -
ANSWERS-injury due to accident
a person who is a nonsmoker, of average weight, and excellent health
would most likely be in which risk classification? - ANSWERS-preferred
A disability income policy can prevent an insured from earning a higher
income than if he/she were working by utilization - ANSWERS-benefit limits
which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death. - ANSWERS-
Human Life value
to receive proceeds from a death benefit, a minor - ANSWERS-must have
an appointed guardian
A partial surrender is allowed in which of the following policies -
ANSWERS-Universal life
what is the automatic continuance of insurance coverage referred to as? -
ANSWERS-renewal
, Major Medical insurance will typically cover medical expenses that result
from - ANSWERS-a negative reaction to prescribed medication
What is considered to be the primary reason for buying life insurance -
ANSWERS-provide death benefits
to qualify for a resident producer license in the state of MI, an individual -
ANSWERS-must complete the requires pre-licensing education within 12
months of licensing application
what is issued to each employer health plan - ANSWERS-certificate
which of the following decision would a Health Savings Account owner
NOT be able to make? - ANSWERS-the amount contributed by the
employee
Group health plans may deny participation based upon the - ANSWERS-
members part time employment status
-full time employees are typically eligible
Matt is applying for life insurance and requests a double indemnity rider. A
double indemnity benefit will be payable to Matt's beneficiary if Matt -
ANSWERS-dies instantly from a car accident
