Final Exam-Michigan Life and Health
2025/2026 Exam Questions and Verified
Answers | Already Graded A+
What amount will be paid under a policy where the insured misstated
his/her age? - 🧠 ANSWER ✔✔an amount the premium would have
purchased at the correct age
the acceptance of a credit life application requires the submission of a
certificate of insurance to the insured within_____ days - 🧠 ANSWER ✔✔30
days
which of these is considered to be a Living benefit option in a life insurance
policy - 🧠 ANSWER ✔✔Accelerated death benefit
loans obtained by a policy owner against the cash value of a life insurance
policy - 🧠 ANSWER ✔✔would not be treated as taxable income
,A long term care policy typically provides all of the following levels of care
EXCEPT - 🧠 ANSWER ✔✔acute care
the elimination period under a hospital indemnity plan is - 🧠 ANSWER
✔✔the specific # of days an insured must wait before becoming eligible to
receive benefits for each hospitalization
what is an insurance policy's grace period? - 🧠 ANSWER ✔✔Period of time
after the premium is due but the policy remains in force
How do interest earnings accumulate in a deferred annuity - 🧠 ANSWER
✔✔On a tax-deferred basis
a licensee who is required to take continuing education Must include how
many ethics coursework hours - 🧠 ANSWER ✔✔3
the automatic premium loan provision authorizes an insurer to withdraw
from a policy's cash value the amount of - 🧠 ANSWER ✔✔Past due
premiums that have not been paid by the end of the grace period
health insurance involves two perils, accident and ______ - 🧠 ANSWER
✔✔sickness
,Who is responsible for assembling the policy forms for insureds - 🧠
ANSWER ✔✔Insurance carriers
a securities license is required for a life insurance producer to sell - 🧠
ANSWER ✔✔variable life insurance
Which of the following is NOT an illegal inducement - 🧠 ANSWER ✔✔giving
the insured an article of merchandise printed with the producers name
costing 5$
Which of the following is NOT a federal requirement of a qualified plan? - 🧠
ANSWER ✔✔employee must be able to make unlimited contributions
Which dividend option would an insurer invest the policy owner's money
and add any interest earnings as the dividends accrue? - 🧠 ANSWER
✔✔Accumulation at interest option
a health insurance policy will typically cover - 🧠 ANSWER ✔✔preventative
health services
a life insurance policy owner was injured in a car accident which results in a
total and permanent disability. which rider would pay a monthly amount
because of this disability? - 🧠 ANSWER ✔✔Disability income rider
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
3
, in addition to the actual policy, an entire contract includes which of the
following? - 🧠 ANSWER ✔✔the application
field underwriting preformed by the producer involves - 🧠 ANSWER
✔✔completing the application and collecting initial premium
Kathy pays a monthly premium on her health insurance policy. How long is
her grace period? - 🧠 ANSWER ✔✔10 days
Pierre is covered by his employer's group major medical plan. His employer
pays for 75% of the premium and he pays for 25%. How much would a
$10,000 benefit be taxable as income under this plan? - 🧠 ANSWER ✔✔0$
-benefits that fall under a major medical plan are considered to be a
reimbursement for a loss, and is not taxable as income
After an insured gives notice of loss, what must he/she do if the insurer
does not furnish forms? - 🧠 ANSWER ✔✔file a written proof of loss
Under long term care insurance, which of the following MUST an insurer
offer to each policy owner at the time of purchase? - 🧠 ANSWER ✔✔An
inflation protection feature
2025/2026 Exam Questions and Verified
Answers | Already Graded A+
What amount will be paid under a policy where the insured misstated
his/her age? - 🧠 ANSWER ✔✔an amount the premium would have
purchased at the correct age
the acceptance of a credit life application requires the submission of a
certificate of insurance to the insured within_____ days - 🧠 ANSWER ✔✔30
days
which of these is considered to be a Living benefit option in a life insurance
policy - 🧠 ANSWER ✔✔Accelerated death benefit
loans obtained by a policy owner against the cash value of a life insurance
policy - 🧠 ANSWER ✔✔would not be treated as taxable income
,A long term care policy typically provides all of the following levels of care
EXCEPT - 🧠 ANSWER ✔✔acute care
the elimination period under a hospital indemnity plan is - 🧠 ANSWER
✔✔the specific # of days an insured must wait before becoming eligible to
receive benefits for each hospitalization
what is an insurance policy's grace period? - 🧠 ANSWER ✔✔Period of time
after the premium is due but the policy remains in force
How do interest earnings accumulate in a deferred annuity - 🧠 ANSWER
✔✔On a tax-deferred basis
a licensee who is required to take continuing education Must include how
many ethics coursework hours - 🧠 ANSWER ✔✔3
the automatic premium loan provision authorizes an insurer to withdraw
from a policy's cash value the amount of - 🧠 ANSWER ✔✔Past due
premiums that have not been paid by the end of the grace period
health insurance involves two perils, accident and ______ - 🧠 ANSWER
✔✔sickness
,Who is responsible for assembling the policy forms for insureds - 🧠
ANSWER ✔✔Insurance carriers
a securities license is required for a life insurance producer to sell - 🧠
ANSWER ✔✔variable life insurance
Which of the following is NOT an illegal inducement - 🧠 ANSWER ✔✔giving
the insured an article of merchandise printed with the producers name
costing 5$
Which of the following is NOT a federal requirement of a qualified plan? - 🧠
ANSWER ✔✔employee must be able to make unlimited contributions
Which dividend option would an insurer invest the policy owner's money
and add any interest earnings as the dividends accrue? - 🧠 ANSWER
✔✔Accumulation at interest option
a health insurance policy will typically cover - 🧠 ANSWER ✔✔preventative
health services
a life insurance policy owner was injured in a car accident which results in a
total and permanent disability. which rider would pay a monthly amount
because of this disability? - 🧠 ANSWER ✔✔Disability income rider
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
3
, in addition to the actual policy, an entire contract includes which of the
following? - 🧠 ANSWER ✔✔the application
field underwriting preformed by the producer involves - 🧠 ANSWER
✔✔completing the application and collecting initial premium
Kathy pays a monthly premium on her health insurance policy. How long is
her grace period? - 🧠 ANSWER ✔✔10 days
Pierre is covered by his employer's group major medical plan. His employer
pays for 75% of the premium and he pays for 25%. How much would a
$10,000 benefit be taxable as income under this plan? - 🧠 ANSWER ✔✔0$
-benefits that fall under a major medical plan are considered to be a
reimbursement for a loss, and is not taxable as income
After an insured gives notice of loss, what must he/she do if the insurer
does not furnish forms? - 🧠 ANSWER ✔✔file a written proof of loss
Under long term care insurance, which of the following MUST an insurer
offer to each policy owner at the time of purchase? - 🧠 ANSWER ✔✔An
inflation protection feature
