Mississippi Life and Health Final Exam| 150 Questions| Correct Answers| Verified!!

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