Missouri Life and Health Exam
Life Insurance Contracts - In a Life insurance contract, an insurance company's promise to pay stated benefits is called the:
️ Insuring clause. - The Consideration clause in a life insurance contract contains what pertinent information?
️ Amount of premi...
- In a Life insurance contract, an insurance company's promise to pay stated benefits is called the:
✔️ Insuring clause.
- The Consideration clause in a life insurance contract contains what pertinent information?
✔️ Amount of premium payments and when they are due.
Health Insurance Grievance Procedures
- Under which circumstance MUST a health insurer have an expedited grievance review procedure?
✔️ When the enrollee's life or health is jeopardized.
Long Term Care Policies
- Long Term Care policies will usually pay for eligible benefits using which of the following methods?
✔️ Expense incurred.
Disability Income Taxation
- 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?
✔️ Benefits are taxable to T.
Insurance Application Statements
- 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:
✔️ A representation.
Long Term Care Insurance Regulations
- Which long term care insurance statement is true?
, ✔️ Pre-existing conditions must be covered after the coverage has been in force for six months.
Medigap Policy Restrictions
- Which of the following is NOT allowed in regard to the Medigap (Medicare Supplement) policy?
✔️ Issuing an additional Medigap policy to ensure no out-of-pocket exposure for the insured.
Licensing Requirements
- Jasmine is a salaried employee of an insurance company. Which of the following duties would require
her to be licensed as an insurance producer?
✔️ Soliciting insurance policies.
Adjustable Life Policy Characteristics
- All of these are characteristics of an Adjustable Life policy EXCEPT:
✔️ Face amount can be adjusted using policy dividends.
Director of Insurance Authority
- The Director of Insurance is authorized:
✔️ To enforce state laws relating to insurance.
Group Accident and Health Policies
- When a group accident and health policy is issued to an employer:
✔️ A policy is issued to the employer and a certificate is issued to each employee.
Accelerated Death Benefits
- Which of the following statements is CORRECT about accelerated death benefits?
✔️ Must have a terminal illness to qualify.
Irrevocable Beneficiary Changes
,- 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?
✔️ Request of the change will be refused.
Federal Tax Treatment of Life Insurance
- Which of these statements is INCORRECT regarding the federal income tax treatment of life insurance?
✔️ Entire cash surrender value is taxable.
Misrepresentation in Insurance
- A producer is circulating incorrect information about the benefits of a policy. This producer may be
found guilty of:
✔️ Misrepresentation.
Major Medical Insurance Expenses
- The first portion of a covered Major Medical insurance expense that the insured is required to pay is
called the:
✔️ Initial deductible.
Application Changes
- Any changes made on an insurance application require the initials of whom?
✔️ Applicant.
Modification of a Policy of Adhesion
- A policy of adhesion can only be modified by whom?
✔️ The insurance company.
Policy Change Authority
- Which of the following health policy provisions states that the producer does NOT have the authority
to change the policy or waive any of its provisions?
✔️ Entire Contract.
, Nature of Insurance Contracts
- All of the following are considered to be typical characteristics describing the nature of an insurance
contract, EXCEPT:
✔️ Bilateral.
AD&D Benefits
- The Accidental Death and Dismemberment (AD&D) provision in a life insurance policy would pay
additional benefits if the insured:
✔️ Is blinded in an accident.
Application Attachment in Insurance Contracts
- Which health policy clause stipulates that an insured company must attach a copy of the application to
the policy to ensure that it is part of the contract?
✔️ Entire Contract.
Coverage for Bone Marrow Transplantation
- Coverage for human leukocyte antigen testing for bone marrow transplantation is REQUIRED to be
provided in all:
✔️ Group comprehensive health policies.
Policy Limits
- The phrase "This policy will only pay for a semi-private room" is an example of a(n):
✔️ Internal limit.
Death Benefit Distribution
- T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment
policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of
natural causes and the father is killed in a scuba accident shortly afterward. How much of the death
benefit will the mother receive?
✔️ $0.
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