MISSOURI LIFE AND HEALTH EXAM 2024/2025
In a Life insurance contract, an insurance company's promise to pay stated benefits is called the:
a) insuring clause
b) consideration clause
c) entire contract
d) owner's rights - Precise Answer insuring clause
under which circumstance MUST a he...
In a Life insurance contract, an insurance company's promise to pay
stated benefits is called the:
a) insuring clause
b) consideration clause
c) entire contract
d) owner's rights - Precise Answer ✔✔insuring clause
under which circumstance MUST a health insurer have an expedited
grievance review procedure? - Precise Answer ✔✔when the enrollee's
life or health is jeapordized
The Consideration clause in a life insurance contract contains what
pertinent information? - Precise Answer ✔✔amount of premium
payments and when they are due
Long Term Care policies will usually pay for eligible benefits using
which of the following methods?
a) delayed
b) fee for service
c) expense incurred
d) respite - Precise Answer ✔✔Expense incurred
,T is receiving $3,000/month from a Disability Income policy in which
T's employer had paid the premiums. How are the $3,000 benefit
payments taxable? - Precise Answer ✔✔Benefits are taxable to T
A statement made by an insured in an insurance application that must be
true to the best of one's knowledge and which becomes a part of the
contract is known as - Precise Answer ✔✔a representation
Which long term care insurance statement is true? - Precise Answer
✔✔Pre-existing conditions must be covered after the coverage has been
in force for six months
Pre-existing conditions are those for which medical advice or treatment
was recommended by or received from a health provider within 6
months preceding the effective date of an individual long-term care
policy.
which of the following is NOT allowed in regards to the Medigap
(Medicare Supplement) policy? - Precise Answer ✔✔Issuing an
additional Medigap policy to ensure no out-of-pocket exposure for the
insured
Jasmine is a salaried employee of an insurance company. Which of the
following duties would require her to be licensed as an insurance
producer?
a) adjusting claims
b) underwriting insurance applications
,c) administrative assistant to the VP of Sales
d) soliciting insurance policies - Precise Answer ✔✔Soliciting insurance
policies
All of these are characteristics of an Adjustable Life policy EXCEPT
a) adjustable premiums
b)adjustable premium payment period
c) combination of term and whole life insurance
d) face amount can be adjusted using policy dividends - Precise Answer
✔✔face amount can be adjusted using policy dividends
The Director of Insurance is authorized
a) to enforce state laws relating to insurance
b) to pass state laws relating to insurance
c) to set insurance rates for foreign insurers
d) to set sales quotas - Precise Answer ✔✔to enforce state laws relating
to insurance
When a group accident and health policy is issued to an employer,
a) a blanket policy is issued to each employee
b) the free-look period is 60 days
c) a policy is issued to the employer and a certificate is issued to each
employee
, d) a certificate is issued to the employer and a policy is issued to each
employee - Precise Answer ✔✔a policy is issued to the employer and a
certificate is issued to each employee
which of the following statements is CORRECT about accelerated death
benefits? - Precise Answer ✔✔Must have a terminal illness to qualify.
T is covered by an Accidental Death and Dismemberment (AD&D)
policy that has an irrevocable beneficiary. What action will the insurance
company take if T requests a change of beneficiary? - Precise Answer
✔✔Request of the change will be refused
which of these statements is INCORRECT regarding the federal income
tax treatment of life insurance
-Premiums are normally not tax deductible
-Cash dividends are normally not taxed
-Entire cash surrender value is taxable
-Proceeds are received tax-free if there is a named beneficiary - Precise
Answer ✔✔Entire cash surrender value is taxable
A producer is circulating incorrect information about the benefits of a
policy. This producer may be found guilty of
a) misrepresentation
b) sliding
c) boycotting
d) coercion - Precise Answer ✔✔misrepresentation
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