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Michigan Life Insurance State Exam Questions and Answers 2024-2025 Updated Solutions
Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Keep replacement records on file for at least 10 years Notify the existing insurer of the proposed replacement Submit to the replacing insurer a list of the policies to be replaced Offer the insured a 60- day free- look period - ANSWERS,Submit to the replacing insurer a list of the policies to be replaced Who were Keogh plans designed to provide pension benefits for? Corporat...
- Exam (elaborations)
- • 49 pages •
Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Keep replacement records on file for at least 10 years Notify the existing insurer of the proposed replacement Submit to the replacing insurer a list of the policies to be replaced Offer the insured a 60- day free- look period - ANSWERS,Submit to the replacing insurer a list of the policies to be replaced Who were Keogh plans designed to provide pension benefits for? Corporat...
Michigan Life Insurance State Actual Exam With Compplete Updated Solutions 2024
Macy is covered by his own group health insurance plan as well as by his wife's group plan. Which provision in Macy's plan will prevent over insurance? - ANSWERS,Coordination of benefits Someone who applies for an individual disability income policy who's in good health, no risky habits, works a low risk job and has no family history of disability is likely to be classified as a: - ANSWERS,Preferred risk After a commissioner issued a cease and desist order, agent smith continued to off...
- Exam (elaborations)
- • 11 pages •
Macy is covered by his own group health insurance plan as well as by his wife's group plan. Which provision in Macy's plan will prevent over insurance? - ANSWERS,Coordination of benefits Someone who applies for an individual disability income policy who's in good health, no risky habits, works a low risk job and has no family history of disability is likely to be classified as a: - ANSWERS,Preferred risk After a commissioner issued a cease and desist order, agent smith continued to off...
Michigan Life Insurance State Exam With Complete Updated Solutions 2024
4. Annuity payments will be based on the annuitants life expectancy - ANSWERS,Annuity payments will be based on the annuitants life expectancy Signing an applicants name for insurance is known as...? 1. Concealment 2. Defamation 3. Coercion 4. Forgery - ANSWERS,4. Forgery Failure to pay a penalty assessed by the commissioner may result in...? 1. Revoked or suspended license 2. Require the license to retake the examination 3. Complete 5 extra hours of continuing education 4. Pay a...
- Exam (elaborations)
- • 50 pages •
4. Annuity payments will be based on the annuitants life expectancy - ANSWERS,Annuity payments will be based on the annuitants life expectancy Signing an applicants name for insurance is known as...? 1. Concealment 2. Defamation 3. Coercion 4. Forgery - ANSWERS,4. Forgery Failure to pay a penalty assessed by the commissioner may result in...? 1. Revoked or suspended license 2. Require the license to retake the examination 3. Complete 5 extra hours of continuing education 4. Pay a...