MS Life and Health Insurance Exam(4
basic hospital and surgical benefits are - ANSWERSlower than the actual expenses incurred
D was actively serving in the Marines when he was killed in an automobile accident while on
leave. His $100,000 Whole life policy contains a War Exclusion clause. How much will D's
beneficiary's receive? - ANSWERSthe full face amount
What is a responsibility of the commissioner of insurance? - ANSWERSadministering insurance
laws
What must a policy owner provide to the insurer for validation that a loss has occurred? -
ANSWERSProof of Loss
Which of the following actions must be taken by an insurance company that wishes to conduct
business in MS? - ANSWERSobtain a certificate of authority
Which type of life policy contains a monthly mortality charge as well as self-directed investment
choices? - ANSWERSVariable Universal Life
In Mississippi, an insurance company formed under the laws of Mexico is called a(n) -
ANSWERSalien company
When must insurable interest exist for a life insurance contract to be valid? - ANSWERSinception
of the contract
When an employee is terminated, which statement about a group term life conversion is true? -
ANSWERSPolicy proceeds must be paid if the employee dies during the conversion period
basic hospital and surgical benefits are - ANSWERSlower than the actual expenses incurred
D was actively serving in the Marines when he was killed in an automobile accident while on
leave. His $100,000 Whole life policy contains a War Exclusion clause. How much will D's
beneficiary's receive? - ANSWERSthe full face amount
What is a responsibility of the commissioner of insurance? - ANSWERSadministering insurance
laws
What must a policy owner provide to the insurer for validation that a loss has occurred? -
ANSWERSProof of Loss
Which of the following actions must be taken by an insurance company that wishes to conduct
business in MS? - ANSWERSobtain a certificate of authority
Which type of life policy contains a monthly mortality charge as well as self-directed investment
choices? - ANSWERSVariable Universal Life
In Mississippi, an insurance company formed under the laws of Mexico is called a(n) -
ANSWERSalien company
When must insurable interest exist for a life insurance contract to be valid? - ANSWERSinception
of the contract
When an employee is terminated, which statement about a group term life conversion is true? -
ANSWERSPolicy proceeds must be paid if the employee dies during the conversion period
