Missouri Life and Health Insurance Final
Exam QUESTIONS AND ANSWERS
1. A catastrophic infection could be great included through which of the following medical
insurance plans? - ANSWER-predominant scientific
2. A disability elimination duration is fine described as a? - ANSWER-time deductible
3. A incapacity profits policyowner recently submitted a declare for a continual neck ache
that has now ended in overall disability. The unique neck damage passed off earlier than
the software turned into taken five years earlier. The neck harm become never disclosed
to the insurer on the time of the utility. How will the insurer take care of this claim? -
ANSWER-declare might be paid and insurance will stay in pressure
4. A foreign coverage organization CANNOT conduct enterprise in Missouri with out? -
ANSWER-a certificate of authority to transact business in Missouri
5. A medical insurance coverage utility may additionally ONLY be altered with the written
consent of the? - ANSWER-applicant
6. A degree top class shows - ANSWER-the top class is fixed for the complete duration
of the settlement
7. A existence insurance policyowner would really like to take out a policy mortgage in
opposition to the coins price in his entire existence coverage. The interest rate carried
out to this loan may range over the years. This is called a(n) price mortgage -
ANSWER-variable
8. A Limited-Pay Life policy has - ANSWER-top class payments limited to a precise
number of years
9. A lengthy-time period care rider in a existence coverage coverage will pay a every day
advantage in the event of which of the following? - ANSWER-inability of the insured to
perform extra than 2 sports of daily living (ADL's)
10.A nondisabled individual is first eligible for Medicare Supplement coverage at age? -
ANSWER-65
11.A medical doctor opens up a new exercise and qualifies for a $7,000 a month disability
income policy. What rider could the physician upload if he desires the capability to
growth his policy advantage as his exercise and earnings develop? -
ANSWER-guaranteed insurability rider alternative
12.A policy that becomes a Modified Endowment Contract (MEC) - ANSWER-will lose lots
of its tax advantages
13.A policyowner would like to change the beneficiary on an Accidental Death and
Dismemberment (AD&D) insurance coverage and make the trade permanent. Which sort
of designation would satisfy this want? - ANSWER-irrevocable
14.A policyowner's rights are confined below which beneficiary designation? -
ANSWER-irrevocable
, 15.A manufacturer does not have the authority to trade a coverage or waive any or its
provisions. The fitness provision that first-rate describes this declaration is referred to as
the? - ANSWER-whole contract
16.A manufacturer has influenced an present policyowner to transform an existing whole
existence coverage to a reduced paid up coverage. The manufacturer then sells the
policyowner a new everyday life policy. This transaction is called a(n)? -
ANSWER-substitute
17.A manufacturer is circulating wrong statistics about the benefits of a policy. This
manufacturer can be found guilty of? - ANSWER-misrepresentation
18.A return of premium existence coverage policy is? - ANSWER-Whole lifestyles and
Increasing term
19.A Term Life rider gives the insured - ANSWER-additional lifestyles coverage
20.A ordinary lifestyles coverage coverage is now and again known as an unbundled
lifestyles policy because the owner can see the interest earned, price of insurance, and
the? - ANSWER-cost prices
21.A whole life insurance policyowner does NOT have the rights to? - ANSWER-alternate
grace period
22.A entire lifestyles coverage policyowner does no longer desire to preserve making top
rate bills. Which of the following allows the policyowner to sell the policy more than its
coins fee? - ANSWER-life agreement contract
23.A(n) annuity pays blessings primarily based on the units as opposed to stated dollar
quantity? - ANSWER-variable
24.A(n) life policy gives the proprietor investment in products including cash marketplace
price range, long time bonds, and equities - ANSWER-variable
25.ABC Insurance Company has popular a life insurance software which includes
unanswered questions. The enterprise then makes the software part of the existence
agreement. In this case, the insurer has - ANSWER-waived certainly one of its legal
rights
26.ABC insurance corporation would really like to trouble a small enterprise organization
coverage in this state. Before doing so, it's far REQUIRED to - ANSWER-be legal to
write twist of fate and medical insurance on this country
27.Accidental Death coverage is furnished to industrial airline passengers in which of the
following varieties of policies? - ANSWER-blanket coincidence coverage
28.Additional coverage may be delivered to a Whole Life policy by including a(n) -
ANSWER-reducing term rider
29.After a existence insurance coverage has been in pressure for more than _____ years, it
becomes incontestable. - ANSWER-2
30.Agent J takes an application and initial top class from an applicant and sends the utility
and top rate take a look at to the insurance company. The insurance corporation returns
the check back to J due to the fact the check is made out to J as opposed to the
insurance organisation. What motion have to J take? - ANSWER-return to the
customer, accumulate a brand new test made out to the insurance enterprise, and
ship the brand new check out to the insurance company
Exam QUESTIONS AND ANSWERS
1. A catastrophic infection could be great included through which of the following medical
insurance plans? - ANSWER-predominant scientific
2. A disability elimination duration is fine described as a? - ANSWER-time deductible
3. A incapacity profits policyowner recently submitted a declare for a continual neck ache
that has now ended in overall disability. The unique neck damage passed off earlier than
the software turned into taken five years earlier. The neck harm become never disclosed
to the insurer on the time of the utility. How will the insurer take care of this claim? -
ANSWER-declare might be paid and insurance will stay in pressure
4. A foreign coverage organization CANNOT conduct enterprise in Missouri with out? -
ANSWER-a certificate of authority to transact business in Missouri
5. A medical insurance coverage utility may additionally ONLY be altered with the written
consent of the? - ANSWER-applicant
6. A degree top class shows - ANSWER-the top class is fixed for the complete duration
of the settlement
7. A existence insurance policyowner would really like to take out a policy mortgage in
opposition to the coins price in his entire existence coverage. The interest rate carried
out to this loan may range over the years. This is called a(n) price mortgage -
ANSWER-variable
8. A Limited-Pay Life policy has - ANSWER-top class payments limited to a precise
number of years
9. A lengthy-time period care rider in a existence coverage coverage will pay a every day
advantage in the event of which of the following? - ANSWER-inability of the insured to
perform extra than 2 sports of daily living (ADL's)
10.A nondisabled individual is first eligible for Medicare Supplement coverage at age? -
ANSWER-65
11.A medical doctor opens up a new exercise and qualifies for a $7,000 a month disability
income policy. What rider could the physician upload if he desires the capability to
growth his policy advantage as his exercise and earnings develop? -
ANSWER-guaranteed insurability rider alternative
12.A policy that becomes a Modified Endowment Contract (MEC) - ANSWER-will lose lots
of its tax advantages
13.A policyowner would like to change the beneficiary on an Accidental Death and
Dismemberment (AD&D) insurance coverage and make the trade permanent. Which sort
of designation would satisfy this want? - ANSWER-irrevocable
14.A policyowner's rights are confined below which beneficiary designation? -
ANSWER-irrevocable
, 15.A manufacturer does not have the authority to trade a coverage or waive any or its
provisions. The fitness provision that first-rate describes this declaration is referred to as
the? - ANSWER-whole contract
16.A manufacturer has influenced an present policyowner to transform an existing whole
existence coverage to a reduced paid up coverage. The manufacturer then sells the
policyowner a new everyday life policy. This transaction is called a(n)? -
ANSWER-substitute
17.A manufacturer is circulating wrong statistics about the benefits of a policy. This
manufacturer can be found guilty of? - ANSWER-misrepresentation
18.A return of premium existence coverage policy is? - ANSWER-Whole lifestyles and
Increasing term
19.A Term Life rider gives the insured - ANSWER-additional lifestyles coverage
20.A ordinary lifestyles coverage coverage is now and again known as an unbundled
lifestyles policy because the owner can see the interest earned, price of insurance, and
the? - ANSWER-cost prices
21.A whole life insurance policyowner does NOT have the rights to? - ANSWER-alternate
grace period
22.A entire lifestyles coverage policyowner does no longer desire to preserve making top
rate bills. Which of the following allows the policyowner to sell the policy more than its
coins fee? - ANSWER-life agreement contract
23.A(n) annuity pays blessings primarily based on the units as opposed to stated dollar
quantity? - ANSWER-variable
24.A(n) life policy gives the proprietor investment in products including cash marketplace
price range, long time bonds, and equities - ANSWER-variable
25.ABC Insurance Company has popular a life insurance software which includes
unanswered questions. The enterprise then makes the software part of the existence
agreement. In this case, the insurer has - ANSWER-waived certainly one of its legal
rights
26.ABC insurance corporation would really like to trouble a small enterprise organization
coverage in this state. Before doing so, it's far REQUIRED to - ANSWER-be legal to
write twist of fate and medical insurance on this country
27.Accidental Death coverage is furnished to industrial airline passengers in which of the
following varieties of policies? - ANSWER-blanket coincidence coverage
28.Additional coverage may be delivered to a Whole Life policy by including a(n) -
ANSWER-reducing term rider
29.After a existence insurance coverage has been in pressure for more than _____ years, it
becomes incontestable. - ANSWER-2
30.Agent J takes an application and initial top class from an applicant and sends the utility
and top rate take a look at to the insurance company. The insurance corporation returns
the check back to J due to the fact the check is made out to J as opposed to the
insurance organisation. What motion have to J take? - ANSWER-return to the
customer, accumulate a brand new test made out to the insurance enterprise, and
ship the brand new check out to the insurance company
