Missouri Life and Health Exam Hard Questions - DB

Joint Life Annuity - If a contract provides a set amount of income for two or more persons with the income stopping upon the first death of the insured, it is called a Exclusions. - Items stipulated in the contract that the insurer will not provide coverage for are found in the Ask her to sign a statement of good health - An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do? It transfers rights of ownership from the owner to another person. - Which of the following statements is TRUE about a policy assignment? Insurer - Which of the following entities can legally bind coverage? Level fixed - Variable Whole Life insurance is based on what type of premium? Inspection Report - An insurer receives a report regarding a potential insured that includes the insured's financial status, hobbies and habits. What type of a report is that? The policy will be interpreted as if the insurer waived its right to have an answer on the application. - If an insurer issued a policy based on the application that had unanswered questions, which of the following will be TRUE? It will pay double or triple the face amount. - Which of the following statements is TRUE concerning the Accidental Death Rider? Provide medical services only from physicians in the network - Which of the following answers does NOT describe the principal goal of a Preferred Provider Organization? Survivor protection. - A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as Adjust the benefit in accordance with the increased risk - If the insured under a disability income insurance policy changes to a more hazardous occupation after the policy has been issued, and a claim is filed, the insurance company should do which of the following? One-year term option. - The dividend option in which the policyowner uses dividends to purchase a term policy for one year is referred to as the When the application is signed and a check is given to the agent - When is the earliest a policy may go into effect? Cross-purchase plan. - A partnership buy-sell agreement in which each partner purchases insurance on the life of each of the other partners is called a Rated. - Another name for a substandard risk classification is Diagnostic and preventive care - What is an important feature of a dental expense insurance plan that is NOT typically found in a medical expense insurance plan? The applicant must be informed of the sources contacted and how the information is being gathered. - Which is true regarding obtaining underwriting sources? Life Paid-up at Age 65 - Which of the following is an example of a limited-pay life policy? It is reduced to the amount of what the cash value would buy as a single premium. - When a reduced paid-up nonforfeiture option is chosen, what happens to the face amount of the policy? Assets - In a replacement situation, all of the following must be considered EXCEPT Unlimited - Under the Physical Exam and Autopsy provision, how many times can an insurer have the insured examined, at its own expense, while a claim is pending?