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Michigan Life, Accident, & Health Insurance Practice Exam Questions and Answers
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Michigan Life, Accident, & Health Insurance Practice Exam Questions and Answers
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Michigan Life, Accident, & HealthInsurance Practice Exam Questions and
Answers
What percentage of a participant's income are group long-term disability benefit
amounts typically limited to? - Answer -60%
A life insurance policy which contains cash values that vary according to its investment
performance of stocks is called - Answer -Variable whole life
Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental? - Answer -Accidental bodily injury provision
All of the following are examples of pure risk EXCEPT
-Losing money at a casino
-Injured while playing football
-Falling at a casino and breaking a hip
-Jewelry stolen during a home robbery - Answer -Losing money at a casino
A life insurance policy that is subject to a contract interest rate is referred to as - Answer
-Universal Life
Which situation accurately describes a reduced paid-up nonforfeiture option? - Answer -
Policy has a decreased face amount
Which type of clause describes the following statement: "We have issued the policy in
consideration of the representations in your applications and payment of the first-term
premium". - Answer -Consideration clause
Must be provided by HMO care - Answer -Home health care
Which type of annuity stops all payments upon the death of the annuitant? - Answer -
Life annuity
If an insured dies during the grace period with no premiums paid - Answer -Th policy
could be payable minus the premium amount
All of these are characteristics of a universal life insurance policy EXCEPT
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