MO Life Accident and Health Insurance Producer
$0 - ANS-P is self-employed and owns an Individual Disability Income policy. He becomes
totally disabled on June 1 and receives $2,000 a month for the next 10 months. How much of
this income is subject to federal income tax?
$2,100 - ANS-Q is hospitalized for 3 days and receives a bill for $10,100. Q has a Major Medical
policy with a $100 deductible and 80/20 coinsurance. How much will Q be responsible for
paying on this claim?
$25,000 individual whole life policy - ANS-An employee with $25,000 group term life coverage
was recently fired. This employee's group coverage may be converted to a
$300,000 - ANS-B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a commercial flight, what
will the policy pay B's beneficiary?
10% - ANS-Premature IRA distributions are assessed a penalty tax of:
12 months - ANS-What is the MINIMUM benefit period that must be offered by a Long-Term
Care policy issued in Missouri?
2-50 employees - ANS-to be classified as a small employer in an employer
20- pay life accumulates cash value faster than straight life - ANS-A potential client, ago 40,
would like to purchase a whole life policy that will accumulate cash value at a faster rate at the
early years of the policy?
20% is withheld for income taxes - ANS-An individual participant personally received eligible
rollover funds from a profit sharing plan. What is the income tax withholding requirements for
this transaction?
30 - ANS-A producer must report any personal felony charges within ___ days of pre-trial
hearing.
30 - ANS-Jay's application for a producer's license has been denied. He may request a hearing
within ___ days after receipt of the denial.
30 - ANS-Within __ days after policy delivery, both Medicare Supplement and LTC policies can
be returned for a 100% premium refund.
30 days - ANS-within how many days must a licensee submit a change in address
,30 days of course completion - ANS-Continuing Education (CE) providers must report to the
Director a licensee's earned credit hours within
31 - ANS-An insured pays premiums on an annual basis for an individual health insurance
policy. What is the MINIMUM number of days for the Grace Period provision?
5 month waiting period - ANS-One becomes eligible for Social Security disability benefits after
having been disabled for
5 months - ANS-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?
50 % - ANS-When an insured receives chiropractic service, the copayment may NOT exceed
_____ of the total cost of providing the service
6 - ANS-Qualified Long-Term Care policies may take into consideration an applicant's
pre-existing conditions for a maximum of not more than __ month(s) prior to the effective date of
coverage.
6 months - ANS-An insurer may normally delay the payment of a cash value loan or surrender
value for up to
65 - ANS-a disabled individual is eligible for a medicare supplement plan at age?
8% - ANS-A life policy loan in Missouri cannot charge a fixed rate of interest higher than
A certificate of authority - ANS-A foreign insurance company CANNOT conduct business in
Missouri without
A minimum number of employees is required to participate - ANS-Which of the following
statements about noncontributory employee group life insurance is FALSE?
A recurrent disability - ANS-P received Disability income benefits for 3 months then returns to
work. She is able to work one month before her condition returns, leaving her disabled once
again. What would the insurance company most likely regard this second period of disability as?
accumulation at interest - ANS-A policy owner may generate taxable income from which of the
following dividend options
Actual covered expenses up to the daily maximum - ANS-A "reimbursement policy" pays what
amount of covered Long-Term Care expenses?
, Adhesion - ANS-A contract where one party either accepts or rejects the terms of a contract
written by another party is called a contract of..?
Age, annual income, financial experience - ANS-When making a recommendation to a
consumer to purchase an annuity, the producer must make reasonable efforts to obtain
suitability information.
AIDS and HIV virus exams can be conducted in a discriminatory fashion. AIDS and HIV testing
must be conducted in a uniform fashion and can not be discriminatory. - ANS-All are true
statements regarding the underwriting process, EXCEPT:
All proceeds are income tax free in the year they are received - ANS-Which of the following
statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life
insurance policy's primary beneficiary?
Allowable amounts under Medicare Part B - ANS-Which of the following would a Medicare
Supplement policy cover?
An employer - ANS-A health reimbursement arrangement must be established
An immediate annuity - ANS-P is a forty year old woman and would like to purchase an annuity
that will provide a lifetime income stream beginning at age sixty. Which of the following did she
NOT buy?
Annual - ANS-Which premium schedule results in the lowest cost to the policyowner?
Any changes made on the application require the applicant's initials - ANS-When an insurance
application is taken by a producer, which of these statements is true?
any occupation - ANS-To be eligible for Social Security disability benefits, an employee must be
unable to perform
Anytime - ANS-When can a policyowner change a revocable beneficiary?
Apply the same deductible and copays to covered diabetic supplies as other medical conditions
- ANS-In Missouri, all health policies must address diabetes coverage in which way?
are less costly as compared to individual long term care coverage - ANS-Group/voluntary
long-term care policy premiums are typically deducted from the employee's income and
Are restricted to maximum level set by the IRS - ANS-In a qualified retirement plan, the yearly
contributions to an employees account:
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