Life, Accident, and Health Producer Final Exam – MO Questions And Answers 100% Pass
2 views 0 purchase
Course
Life, Accident, and Health Producer
Institution
Life, Accident, And Health Producer
Life, Accident, and Health Producer Final
Exam – MO Questions And Answers 100%
Pass
If the insured and primary beneficiary are both killed in the same accident and it cannot be
determined who died first, where are the death proceeds to be directed under the Uniform
Simultaneous Death Act? - ...
Life, Accident, and Health Producer Final
Exam – MO Questions And Answers 100%
Pass
If the insured and primary beneficiary are both killed in the same accident and it cannot be
determined who died first, where are the death proceeds to be directed under the Uniform
Simultaneous Death Act? - answer✔Insured's contingent beneficiary
Which of the following transactions would be considered a Life Insurance policy replacement? -
answer✔Cash surrender an existing whole life policy and purchasing a new whole life policy
A person whose application for a license was denied may request a hearing within a MAXIMUM
of how many days after receipt of the denial: - answer✔Thirty
An employee of 20 years recently retired at age 59 1/2. This employee's group life contract can
be: - answer✔converted to an individual permanent policy at an individual rate
Which of the following statements is INCORRECT about a licensee's responsibility for
premiums received? - answer✔The licensee must hold them in a separate account at a
commercial bank or established financial institution before transmitting them to the insurance
company
What percent of personal life insurance premiums is usually deductible for federal income tax
purposes? - answer✔0%
What type of rider would be added to an Accident and Health policy if the policyowner wants to
ensure the policy will continue if he/she ever becomes totally disabled? - answer✔Waiver of
Premium rider
Under Missouri law, when one group health plan's contract replaces a plan of similar benefits of
another group health plan, - answer✔the succeeding carrier shall give credit for the satisfaction
of any deductibles or waiting periods satisfied or partially satisfied under the prior carrier's plan
Health benefit plans may not impose a copay or co-insurance for physical therapy visits that are:
- answer✔greater than the copay or coinsurance for primary care office visits
Which of the following correctly explains the actions an agent should take if a customer wants to
apply for an insurance policy? - answer✔Complete the application and review the information
with the customer prior to obtaining the customer's signature, then send the application off to the
insurance company
Which of these Nonforfeiture Options continue a build-up of cash value? - answer✔Reduced
Paid-Up
Continuing education (CE) providers must report to the director a licensee's earned credit hours
within: - answer✔30 days of course completion
Which Accident and Health policy provision addresses preexisting conditions? - answer✔Time
limit on certain defenses
When does a Guaranteed Insurability Rider allow the insured to buy additional coverage? -
answer✔at future dates specified in the contract with no evidence of insurability required
For which of the following expenses does a Basic Hospital policy pay? - answer✔Hospital room
and board
Which of the following statements about Health Reimbursement Arrangements (HRA) is
CORRECT? - answer✔If the employee paid for qualified medical expenses, the reimbursements
may be tax-free
Bryce purchased a disability income policy with a rider that guarantees him the option of
purchasing additional amounts of coverage at predetermined times without requiring to provide
evidence of insurability. What kind of rider is this? - answer✔Guaranteed insurability rider
What is the purpose of the Time of Payment of Claims provision? - answer✔Prevents delayed
claim payments made by the insurer
Which of these is considered an unfair trade practice? - answer✔A producer stating that a
policy's dividends are guaranteed
The purpose of the Insurance Guaranty Fund is to: - answer✔ensure that claims filed against
insolvent insurance companies will be paid
Group life insurance policies are generally written as: - answer✔annually renewable term
Which health policy clause stipulates that an insurance company must attach a copy of the
application to the policy to ensure that it is part of the contract? - answer✔entire contract
Which of these actions is taken when a policyowner uses a Life Insurance policy as collateral for
a bank loan? - answer✔Collateral assignment
K purchased a $10,000 Life Policy that will pay the face amount to her if she lives to age 65, or
to her beneficiary if she dies before age 65. K purchased which of the following types of
policies? - answer✔Endowment at Age 65
An endowment policy is characterized by cash values that grow at a rapid pace so that the policy
matures or endows at a specified date (before age 100).
Which of the following statements about a group A&H policy issued to an employer is correct? -
answer✔A policy must be issued to the employer and a certificate must be issued to each
employee
A major medical plan (including an HMO) that covers prescription drugs must: - answer✔charge
a single month's copay in any case where a prescribed dosage is not actually manufactured, and
multiple separate manufactured dosages must be dispensed to satisfy a one-month supply of the
prescription
An insurance company may compensate all of the following people, EXCEPT: -
answer✔licensed producer not appointed by the company
Which of the following statements about a Guaranteed Renewable Health Insurance policy is
CORRECT? - answer✔Premiums normally increase at time of renewal
Q is severely injured in an automobile accident and becomes totally disabled. How many months
must Q be disabled before being able to apply for Social Security disability benefits? - answer✔5
When an insured changes to a more hazardous occupation, which disability policy provision
allows an insurer to adjust policy benefits and rates? - answer✔Change of occupation provision
D is the policyowner and insured for a $50,000 life insurance policy. The beneficiary is D's wife.
D and his wife divorce and D remarries, transferring ownership of his policy to his new wife. If
D dies without making any further changes, to whom will the policy proceeds be paid to? -
answer✔ex-wife
Disability policies do NOT normally pay for disabilities arising from which of the following? -
answer✔war
A Whole Life Insurance Policy endows when the: - answer✔Cash value equals the death benefit
A policy summary must be given for all of the following policies, EXCEPT: - answer✔credit life
What is the elimination period of an individual disability policy? - answer✔Time period a
disabled person must wait before benefits are paid
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Brightstars. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
