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Missouri Health Insurance Questions With Correct Answers(Rated A+) An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do? -ANSWER Ask her to sign a statement of good health An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake a...

Life and Health Insurance Missouri 100% Correct!! The Federal Fair Credit Reporting Act -ANSWER Regulates Consumer Reports, also known as consumer investigative reports, or credit reports. Premium Reciept -ANSWER When an agent collects the initial premium from the applicant the agent should issue the applicant a $2,500 -ANSWER What is the maximum penalty for habitual willful noncompliance with the Fair Credit Reporting Act Guaranteed Renewable -ANSWER A medicare supplement plan must...

Missouri life insurance exam practice Questions & Answers(Graded A+) When an employer terminate coverage under a group policy, how long is that coverage in force? -ANSWER 31 Days. The employee has 31 days under the conversion privilege to convert to an individual policy. When talking about parties to a contract, what makes a person legally competent. -ANSWER The person must complete secondary education. What is the number of credits required for the fully insured status of social Securi...

Missouri Life and Health Insurance 100% Corr The ______ branch writes and passes state insurance laws, or statutes, to protect the insuring public. -ANSWER Legislative A life insurance applicant 's answers on the application indicate that they in good health. In fact, the applicant actually has a disease that they are not aware of. The statement on the application is considered: -ANSWER a representation what is the correct insurance term for a statement that is guaranteed to be true? -AN...

Final Exam - Missouri Life Only 100% Accurate!! Which unfair trade practice involves making false statements about the financial condition of another insurance company? -ANSWER Defamation When must insurable interest exist for a life insurance contract to be valid? -ANSWER Inception of the contract Which of the following statements about non-contributory employee group life insurance is FALSE? -ANSWER A minimum number of employees is required to participate. D was actively serving in...

Missouri life insurance exam practice Questions & Answers 100% Correct!! When an employer terminate coverage under a group policy, how long is that coverage in force? - ANSWER31 Days. The employee has 31 days under the conversion privilege to convert to an individual policy. When talking about parties to a contract, what makes a person legally competent. - ANSWERThe person must complete secondary education. What is the number of credits required for the fully insured status of social Se...

Missouri Health insurance Questions 10Consideration -ANSWER something of value that each party gives to the other Warranty -ANSWER absolutely true statement upon which the validity of the policy rests Representation -ANSWER statements believed to be true to the best of one's knowledge but not guaranteed to be true. misrepresentations -ANSWER untrue statements that void the policy material misrepresentation -ANSWER a statement that, if discovered, would alter an insurance company's ...

Life Insurance Exam Missouri 100% CorrRequirements for the life insurance illustrations -ANSWER They may only be used as approved, they must identify non guaranteed values, they must differentiate between guaranteed and projected amounts Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which , if the original recipient dies, the payments will continue to a designated beneficiary -ANSWER life income wit...

MO Life Accident and Health Insurance Producer Questions and Answers(Graded A+) An employee who owns an individual disability income policy is injured in an automobile accident and files proof of loss with the insurance company. Under the payment of claims provision in the policy, the company will likely pay the policy benefits to the A: Insured's employer B: Insured's attending physician if the insured has assigned the benefits C: Insured's beneficiary D: Insured - ANSWE...

Missouri Health & Life |Practice Test 1 Questions & Answers 100% Verified!! Which of the following entities has the authority to make changes to an insurance policy? -ANSWER Insurers executive officer What is the purpose of a conditional receipt? -ANSWER It is intended to provide coverage on a date prior to the policy issue When a disabled dependent child reaches the age limit for coverage, how long does the policy owner have to provide proof of dependency in order for the dependent to...