Michigan insurance test Study guides, Class notes & Summaries
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Michigan P & C Insurance Exam Test. Questions and answers. 100% Verified. Rated A
- Exam (elaborations) • 8 pages • 2023
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Michigan P & C Insurance Exam Test. Questions and answers. 100% Verified. Rated A 
 
 
Termination of Insurance for auto and home must be sent to last know address no later than - 30 days before cancellation 
 
Termination of casualty insurance cannot take place until- from the mailing date - 10 days 
 
PIP in auto insurance covers individual care from a family member for - a limit of $20 a day for three years 
 
limited collision - shall pay for collision damage to the insured vehicle without a...
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Michigan Life Insurance State Exam Solved 100% Correct
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Under a traditional IRA, interest is taxed: 
 
Only if withdrawn prior to age 59 1/2 
 
According to the capital gains rate 
 
Upon distribution 
 
During the accumulation phase - ANSWER-Upon distribution 
 
Which of these statements concerning Traditional IRAs is CORRECT? 
 
Earnings are not taxable when withdrawn 
 
Earnings are taxable when withdrawn 
 
Contribution are never tax deductible 
 
Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn 
 
Wh...
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Michigan Life Insurance State Exam Practice Test with Answer Key | Latest 2024/2025
- Exam (elaborations) • 43 pages • 2024
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Which is TRUE regarding the annuitant, when the annuitant is NOT the policy owner? 
 
1. The annuitant has the right to name the beneficiary 
 
2. The annuitant is the person paying the premiums 
 
3. The cash value is available to the annuitant for withdrawals 
 
4. Annuity payments will be based on the annuitants life expectancy ️ Annuity payments will be based on the annuitants life expectancy 
 
Signing an applicants name for insurance is known as...? 
1. Concealment 
 
2. Defamation 
 ...
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Michigan Insurance Test 2022/2023 with Complete Solutions
- Exam (elaborations) • 27 pages • 2022
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c. Primarily describes the free-look period - ANS All of the following are functions of an insuring clause EXCEPT 
a. States the conditions under which the policy will pay 
b. Outlines the kind of benefits provided 
c. Primarily describes the free-look period 
d. Provides the policy's scope and limits of coverage 
 
b. Employer - ANS The policyholder for a group health benefit plan is considered to be the 
a. Employee 
b. Employer 
c. Liaison 
d. Insurer 
 
c. dies instantly from a car accident...
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Michigan Life Insurance State Exam Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test
- Exam (elaborations) • 85 pages • 2024
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Michigan Life Insurance State Exam Questions with 
100% Correct Answers | Latest Version 2024 | Expert 
Verified | Ace the Test
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Michigan Life Insurance State Exam Answer Key with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test
- Exam (elaborations) • 86 pages • 2024
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Michigan Life Insurance State Exam Answer Key 
with 100% Correct Answers | Latest Version 2024 | 
Expert Verified | Ace the Test
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Ch.18 Michigan Laws and Rules Pertinent to Insurance Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test
- Exam (elaborations) • 16 pages • 2024
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Ch.18 Michigan Laws and Rules Pertinent to Insurance Questions 
with 100% Correct Answers | Latest Version 2024 | Expert Verified | 
Ace the Test
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Michigan Credit Insurance Producer Actual Test with Verified Answers | Latest 2024/2025
- Exam (elaborations) • 8 pages • 2024
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______ can be defined as the spreading of financial risk over a large group 
of people in order to minimize the potential economic loss to any one 
individual ️ Insurance 
Which of the following would be true concerning risk? ️ An insurable 
pure risk only involves the possibility of loss 
Which of the following would NOT be a method of handling (copying with) 
risk? ️ Risk Reliance 
Which of the following would not be classified as an insurable pure risk? 
️ The loss must be catastrophi...
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Michigan Life Insurance State Exam Questions with Verified Answers |Latest 2024/2025
- Exam (elaborations) • 42 pages • 2024
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Under a traditional IRA, interest is taxed: 
Only if withdrawn prior to age 59 1/2 
According to the capital gains rate 
Upon distribution 
During the accumulation phase ️ Upon distribution 
Which of these statements concerning Traditional IRAs is CORRECT? 
Earnings are not taxable when withdrawn 
Earnings are taxable when withdrawn 
Contribution are never tax deductible 
Contributions are always made by the employer ️ Earnings are taxable 
when withdrawn 
Which of these describes the result...
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MICHIGAN P & C INSURANCE EXAM TEST
- Exam (elaborations) • 6 pages • 2024
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MICHIGAN P & C INSURANCE EXAM TEST
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