MISSOURI LIFE AND HEALTH INSURANCE 2025/2026
QUESTIONS WITH SOLUTION GRADED A+
✔✔Medicare is intended for all of the following groups EXCEPT - ✔✔Those enrolled as
a full-time student
✔✔Life and health insurance policies are - ✔✔Unilateral contracts.
(Life and health insurance policies are considered unilateral contracts because one
party makes a promise, and the other party can only accept by performance.)
✔✔Insureds in the same risk classification are being charged different premiums by an
insurance company. This insurer is committing the illegal act of - ✔✔Unfair
discrimination
✔✔The percentage of an individuals primary insurance amount determines the benefits
paid in which of the following programs? - ✔✔Social Security Disability Income
✔✔Why would the Director of Insurance examine the records of an insurance
company? - ✔✔to determine the solvency of the company
✔✔A Medicare Supplement Policy can be cancelled by the insurer for - ✔✔nonpayment
✔✔The part of a life insurance policy guaranteed to be true is called an: - ✔✔warranty
✔✔Deductibles are used in health policies to lower - ✔✔overuse of medical services
✔✔Which type of policy is considered to be overfunded, as stated by IRS guidelines? -
✔✔Modified Endowment Contract
✔✔An agent takes an individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to: - ✔✔determine if the applicant is an acceptable risk
by completing standard underwriting procedures
✔✔K applies for a life insurance policy on herself and submits the initial premium with
the application. She is given a receipt by the agent stating that coverage begins
immediately if the application is approved. What kind of receipt was used? -
✔✔conditional
✔✔A licensing must complete _____ hours of continuing education every two years -
✔✔16
, ✔✔A disability income policy that only the policy owner can terminate in which the rates
will never go up is considered to be - ✔✔noncancellable
✔✔The insuring clause - ✔✔States the scope and limits of the coverage
✔✔Medicare Part B does NOT cover - ✔✔inpatient hospital services
✔✔Which of these are NOT an example of Nonforfeiture option? - ✔✔Life Income
✔✔which of the following correctly explains the actions and agent should take if a
customer wants to apply for an insurance policy? - ✔✔Complete the application and
review the information with the customer prior to obtaining the customer signature, then
send the application off to the insurance company
✔✔An insured pays premiums on an annual basis for an individual health insurance
policy. What is the MINIMUM number of days for the Grace Period provision? - ✔✔31
✔✔Which of the following is NOT a required provision in a group life policy -
✔✔Accidental Death and Dismemberment
✔✔J is issued a Life Insurance policy with a death benefit of $100,000. She pays $600
per year in premium for the first 5 years. The premium then increases to $900 per year
in the sixth year, and remains level thereafter. The policy's death benefit also remains at
$100,000. Which type of Life Insurance policy is this? - ✔✔Modified Premium Life
✔✔The amount of coverage on group credit life policy is limited to: - ✔✔the insured's
total loan value
✔✔While life insurance is sometimes referred to as straight life. What does the word
"straight" indicate when using using this phrase - ✔✔The duration of premium payments
✔✔Which of the following policy provisions prohibits an insurance company from
incorporating external documents into an insurance policy? - ✔✔Entire Contract
✔✔Which requirement must be met for an association to be eligible for a group life
plan? - ✔✔Group was formed for a purpose other than acquiring insurance
✔✔Health policies that contain coverage for low protein, modified food products for
treatment of PKU, or any inherited disease of amino organic acids, require a
coinsurance not to exceed ______ of the cost of the formula or food products. - ✔✔50%
✔✔What type of insurance offers permanent life coverage with premiums that are
payable for life? - ✔✔whole life
QUESTIONS WITH SOLUTION GRADED A+
✔✔Medicare is intended for all of the following groups EXCEPT - ✔✔Those enrolled as
a full-time student
✔✔Life and health insurance policies are - ✔✔Unilateral contracts.
(Life and health insurance policies are considered unilateral contracts because one
party makes a promise, and the other party can only accept by performance.)
✔✔Insureds in the same risk classification are being charged different premiums by an
insurance company. This insurer is committing the illegal act of - ✔✔Unfair
discrimination
✔✔The percentage of an individuals primary insurance amount determines the benefits
paid in which of the following programs? - ✔✔Social Security Disability Income
✔✔Why would the Director of Insurance examine the records of an insurance
company? - ✔✔to determine the solvency of the company
✔✔A Medicare Supplement Policy can be cancelled by the insurer for - ✔✔nonpayment
✔✔The part of a life insurance policy guaranteed to be true is called an: - ✔✔warranty
✔✔Deductibles are used in health policies to lower - ✔✔overuse of medical services
✔✔Which type of policy is considered to be overfunded, as stated by IRS guidelines? -
✔✔Modified Endowment Contract
✔✔An agent takes an individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to: - ✔✔determine if the applicant is an acceptable risk
by completing standard underwriting procedures
✔✔K applies for a life insurance policy on herself and submits the initial premium with
the application. She is given a receipt by the agent stating that coverage begins
immediately if the application is approved. What kind of receipt was used? -
✔✔conditional
✔✔A licensing must complete _____ hours of continuing education every two years -
✔✔16
, ✔✔A disability income policy that only the policy owner can terminate in which the rates
will never go up is considered to be - ✔✔noncancellable
✔✔The insuring clause - ✔✔States the scope and limits of the coverage
✔✔Medicare Part B does NOT cover - ✔✔inpatient hospital services
✔✔Which of these are NOT an example of Nonforfeiture option? - ✔✔Life Income
✔✔which of the following correctly explains the actions and agent should take if a
customer wants to apply for an insurance policy? - ✔✔Complete the application and
review the information with the customer prior to obtaining the customer signature, then
send the application off to the insurance company
✔✔An insured pays premiums on an annual basis for an individual health insurance
policy. What is the MINIMUM number of days for the Grace Period provision? - ✔✔31
✔✔Which of the following is NOT a required provision in a group life policy -
✔✔Accidental Death and Dismemberment
✔✔J is issued a Life Insurance policy with a death benefit of $100,000. She pays $600
per year in premium for the first 5 years. The premium then increases to $900 per year
in the sixth year, and remains level thereafter. The policy's death benefit also remains at
$100,000. Which type of Life Insurance policy is this? - ✔✔Modified Premium Life
✔✔The amount of coverage on group credit life policy is limited to: - ✔✔the insured's
total loan value
✔✔While life insurance is sometimes referred to as straight life. What does the word
"straight" indicate when using using this phrase - ✔✔The duration of premium payments
✔✔Which of the following policy provisions prohibits an insurance company from
incorporating external documents into an insurance policy? - ✔✔Entire Contract
✔✔Which requirement must be met for an association to be eligible for a group life
plan? - ✔✔Group was formed for a purpose other than acquiring insurance
✔✔Health policies that contain coverage for low protein, modified food products for
treatment of PKU, or any inherited disease of amino organic acids, require a
coinsurance not to exceed ______ of the cost of the formula or food products. - ✔✔50%
✔✔What type of insurance offers permanent life coverage with premiums that are
payable for life? - ✔✔whole life
