Michigan Life, Accident, and Health Exam
Prep UPDATED Actual Exam Questions
and CORRECT Answers
A policyowner may change two policy features on what type of life insurance? - CORRECT
ANSWER✔✔- Adjustable life
The legal action provision in a health contract is limited to no more than ___ years. -
CORRECT ANSWER✔✔- 5
Long-Term Care policies may provide coverage for claims arising from - CORRECT
ANSWER✔✔- Senile dementia
In group health care, what is the purpose of the coordination of benefits provision? -
CORRECT ANSWER✔✔- Determines what is paid by the primary and secondary insures in
the event of a claim
All of the following riders can increase the death benefit amount EXCEPT
-Cost of Living
-Waiver of Premium
-Accidental Death Rider
-Guaranteed Insurability - CORRECT ANSWER✔✔- Wavier of premium
Frank is shopping for a disability income policy. Which of the following would have the
HIGHEST premium?
-14 day waiting period / 5 year benefit period
-14 day waiting period / 10 year benefit period
-28 day waiting period / 5 year benefit period
-28 day waiting period / 10 year benefit period - CORRECT ANSWER✔✔- 14 day waiting
period / 10 year benefit period
Which of the following is NOT a federal requirement of a qualified plan?
, -Must benefit a broad cross-section of employees
-Employee must be able to make unlimited contributions
-Vesting schedule must be defined
-Employer establishes the plan - CORRECT ANSWER✔✔- Employee must be able to make
unlimited contributions
A provision that allows a policyowner to withdraw a policy's cash value interest free is a(n) -
CORRECT ANSWER✔✔- Partial surrender
In Michigan, legal action can be taken against an insurer for failure to pay LIFE insurance
claims for a period not to exceed - CORRECT ANSWER✔✔- 6 year
All of the following are examples of a Business Continuation Plan EXCEPT - CORRECT
ANSWER✔✔- Deferred compensation
A producer MUST be appointed by the insurer within how many days from the date the
agency contract application is submitted? - CORRECT ANSWER✔✔- 15
Small employers who are sponsored by an insurer to provide group benefits to its employees
are called - CORRECT ANSWER✔✔- MEWA
Tom has a home health care benefit and is confined to his home. Which of these benefits is
NOT typically covered? - CORRECT ANSWER✔✔- Full time nursing care
An HMO that involves a partnership of physicians and other providers who practice out of a
central facility is called a(n) - CORRECT ANSWER✔✔- group HMO
Which of these will typically authorize treatment from a specialist? - CORRECT
ANSWER✔✔- Gatekeeper
What happens to the coverage under a children's term rider when that child reaches a certain
specified age? - CORRECT ANSWER✔✔- Coverage is eliminated
Prep UPDATED Actual Exam Questions
and CORRECT Answers
A policyowner may change two policy features on what type of life insurance? - CORRECT
ANSWER✔✔- Adjustable life
The legal action provision in a health contract is limited to no more than ___ years. -
CORRECT ANSWER✔✔- 5
Long-Term Care policies may provide coverage for claims arising from - CORRECT
ANSWER✔✔- Senile dementia
In group health care, what is the purpose of the coordination of benefits provision? -
CORRECT ANSWER✔✔- Determines what is paid by the primary and secondary insures in
the event of a claim
All of the following riders can increase the death benefit amount EXCEPT
-Cost of Living
-Waiver of Premium
-Accidental Death Rider
-Guaranteed Insurability - CORRECT ANSWER✔✔- Wavier of premium
Frank is shopping for a disability income policy. Which of the following would have the
HIGHEST premium?
-14 day waiting period / 5 year benefit period
-14 day waiting period / 10 year benefit period
-28 day waiting period / 5 year benefit period
-28 day waiting period / 10 year benefit period - CORRECT ANSWER✔✔- 14 day waiting
period / 10 year benefit period
Which of the following is NOT a federal requirement of a qualified plan?
, -Must benefit a broad cross-section of employees
-Employee must be able to make unlimited contributions
-Vesting schedule must be defined
-Employer establishes the plan - CORRECT ANSWER✔✔- Employee must be able to make
unlimited contributions
A provision that allows a policyowner to withdraw a policy's cash value interest free is a(n) -
CORRECT ANSWER✔✔- Partial surrender
In Michigan, legal action can be taken against an insurer for failure to pay LIFE insurance
claims for a period not to exceed - CORRECT ANSWER✔✔- 6 year
All of the following are examples of a Business Continuation Plan EXCEPT - CORRECT
ANSWER✔✔- Deferred compensation
A producer MUST be appointed by the insurer within how many days from the date the
agency contract application is submitted? - CORRECT ANSWER✔✔- 15
Small employers who are sponsored by an insurer to provide group benefits to its employees
are called - CORRECT ANSWER✔✔- MEWA
Tom has a home health care benefit and is confined to his home. Which of these benefits is
NOT typically covered? - CORRECT ANSWER✔✔- Full time nursing care
An HMO that involves a partnership of physicians and other providers who practice out of a
central facility is called a(n) - CORRECT ANSWER✔✔- group HMO
Which of these will typically authorize treatment from a specialist? - CORRECT
ANSWER✔✔- Gatekeeper
What happens to the coverage under a children's term rider when that child reaches a certain
specified age? - CORRECT ANSWER✔✔- Coverage is eliminated
