Mississippi Life and Health Final Exam
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit - Answer-Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union - Answer-employee
A producer must report to the Commissioner of Insurance any administrative action or criminal charges
taken against the producer within __ days of the final disposition of the matter.
,10
15
20
30 - Answer-30
The return of all or part of the commission to the insured by an insurance producer as an inducement to
purchase the insurance is known as
twisting
redlining
rebating
misrepresentation - Answer-rebating
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years - Answer-two years
Which of the following phrases refers to the fees charged by a healthcare professional?
Deductible
Coinsurance
Usual, customary, and reasonable expenses
Hospital expense - Answer-Usual, customary, and reasonable expenses
,The situation in which a group of physicians are salaried employees and conduct business in an HMO
facility is called a(n)
closed panel
open panel
co-op panel
capitation panel - Answer-closed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident - Answer-off-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple indemnity for common
carrier death. If B is killed from an accident on a commercial flight, what will the policy pay B's
beneficiary?
$100,000
$200,000
$300,000
$400,000 - Answer-$300,000
An insurance company that replaces existing insurance must provide a copy of which of the following
documents to the existing insurance company?
, The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity - Answer-a policy summary
An insurance company formed under the laws of Canada would be known in Mississippi as
a domestic company
an alien company
a foreign company
a mutual company - Answer-an alien company
What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made?
Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary - Answer-irrevocable beneficiary
K is the insured and P is the sole beneficiary on a life insurance policy. Both are involved in a fatal
accident where K dies before P. Under the Common Disaster provision, which of these statements is
true?
-Proceeds will be paid to P's estate
-Proceeds will be divided equally between K's and P's estate
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit - Answer-Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union - Answer-employee
A producer must report to the Commissioner of Insurance any administrative action or criminal charges
taken against the producer within __ days of the final disposition of the matter.
,10
15
20
30 - Answer-30
The return of all or part of the commission to the insured by an insurance producer as an inducement to
purchase the insurance is known as
twisting
redlining
rebating
misrepresentation - Answer-rebating
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years - Answer-two years
Which of the following phrases refers to the fees charged by a healthcare professional?
Deductible
Coinsurance
Usual, customary, and reasonable expenses
Hospital expense - Answer-Usual, customary, and reasonable expenses
,The situation in which a group of physicians are salaried employees and conduct business in an HMO
facility is called a(n)
closed panel
open panel
co-op panel
capitation panel - Answer-closed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident - Answer-off-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple indemnity for common
carrier death. If B is killed from an accident on a commercial flight, what will the policy pay B's
beneficiary?
$100,000
$200,000
$300,000
$400,000 - Answer-$300,000
An insurance company that replaces existing insurance must provide a copy of which of the following
documents to the existing insurance company?
, The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity - Answer-a policy summary
An insurance company formed under the laws of Canada would be known in Mississippi as
a domestic company
an alien company
a foreign company
a mutual company - Answer-an alien company
What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made?
Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary - Answer-irrevocable beneficiary
K is the insured and P is the sole beneficiary on a life insurance policy. Both are involved in a fatal
accident where K dies before P. Under the Common Disaster provision, which of these statements is
true?
-Proceeds will be paid to P's estate
-Proceeds will be divided equally between K's and P's estate
