1 Exam (elaborations) Life and Health Insurance Study Guide Exam And 100% Correct Answers 2024. 2 Exam (elaborations) Missouri Insurance Practice Exam Questions With Verified Solutions 2024. 3 Exam (elaborations) Missouri Comprehensive Exam With Complete Answers 2024. 4 Exam (elaborations) Misso...
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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 is not required to give credit for the satisfaction of any deductibles or waiting periods satisfied or partially satisfied under the prior c...
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Add to cartUnder Missouri law, when one group health plan's contract replaces a plan of similar benefits of another group health plan, - Answer the succeeding carrier is not required to give credit for the satisfaction of any deductibles or waiting periods satisfied or partially satisfied under the prior c...
Who maintains responsibility for claims made in an advertisement on behalf of an insurance company? a-The writer b-the insurer c-the producer d-the Department of Insurance - Answer the insurer Which of the following is true regarding coverage for diabetes in Group health insurance policy...
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Add to cartWho maintains responsibility for claims made in an advertisement on behalf of an insurance company? a-The writer b-the insurer c-the producer d-the Department of Insurance - Answer the insurer Which of the following is true regarding coverage for diabetes in Group health insurance policy...
Convincing a prospective insured to buy an insurance policy based on exaggerations is called - Answer Misrepresentation A nondisabled individual is first eligible for a Medicare Supplement policy at age - Answer 65 In a qualified retirement plan, the yearly contributions to an employee...
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Add to cartConvincing a prospective insured to buy an insurance policy based on exaggerations is called - Answer Misrepresentation A nondisabled individual is first eligible for a Medicare Supplement policy at age - Answer 65 In a qualified retirement plan, the yearly contributions to an employee...
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National Association of Insurance Commissioners (NAIC) - Answer writes rules and statutes for legeslature Director of the Department of Insurance is appointed by - Answer Governor, with the advice and consent of the senate. The Director can only be involved with an insurance company as...
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Add to cartNational Association of Insurance Commissioners (NAIC) - Answer writes rules and statutes for legeslature Director of the Department of Insurance is appointed by - Answer Governor, with the advice and consent of the senate. The Director can only be involved with an insurance company as...
Risk - Answer The chance or uncertainty of loss. Exposure - Answer A condition or situation that presents a possibility of loss. Ways to manage risk - Answer Avoid Risk control risk retain a risk transfer a risk control risk - Answer techniques that limit loss severity come u...
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Add to cartRisk - Answer The chance or uncertainty of loss. Exposure - Answer A condition or situation that presents a possibility of loss. Ways to manage risk - Answer Avoid Risk control risk retain a risk transfer a risk control risk - Answer techniques that limit loss severity come u...
Capital Sum - Answer the sum that is paid upon the loss of 1 limb or sight in 1 eye What are the main activities of daily living(ADL)? - Answer bathing, continence, dressing, eating, toileting, and transferring Hospital income and indemnity - Answer a type of health insurance policy t...
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Add to cartCapital Sum - Answer the sum that is paid upon the loss of 1 limb or sight in 1 eye What are the main activities of daily living(ADL)? - Answer bathing, continence, dressing, eating, toileting, and transferring Hospital income and indemnity - Answer a type of health insurance policy t...
401(k) Plan - Answer A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - Answer Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collate...
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Add to cart401(k) Plan - Answer A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - Answer Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collate...
Which of the following personal auto coverages would pay for the insured's travel expenses and loss of earnings while involved in the settlement process of a covered loss? - Answer Liability coverage What are the two types of compensatory damages? - Answer Special and general Which part...
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Add to cartWhich of the following personal auto coverages would pay for the insured's travel expenses and loss of earnings while involved in the settlement process of a covered loss? - Answer Liability coverage What are the two types of compensatory damages? - Answer Special and general Which part...
Term life - Answer Insurance provides pure death protection since it only pays a death benefit if the insured dies during the policy term. Term life insurance does not accrue cash value Whole life - Answer Insurance provides death benefits for the entire life of the insured. It also provide...
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Add to cartTerm life - Answer Insurance provides pure death protection since it only pays a death benefit if the insured dies during the policy term. Term life insurance does not accrue cash value Whole life - Answer Insurance provides death benefits for the entire life of the insured. It also provide...
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 ...
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Add to cartWhen 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 ...
Misrepresentation -Answer An applicant inaccurately representing information on the application is guilty of: Establish and enforce sound underwriting practices -Answer To address adverse selection what can an insurer legally do If an individual is denied coverage, they can request copy ...
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Add to cartMisrepresentation -Answer An applicant inaccurately representing information on the application is guilty of: Establish and enforce sound underwriting practices -Answer To address adverse selection what can an insurer legally do If an individual is denied coverage, they can request copy ...
Insurance transaction includes: - Answer By mail or other means: - Solicitation - Negotiation - Sale - Advising an individual about coverage Elements of a legal contract - Answer -Agreement (offer and acceptance) - Consideration - Competent parties - Legal purpose - Negotiation ...
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Add to cartInsurance transaction includes: - Answer By mail or other means: - Solicitation - Negotiation - Sale - Advising an individual about coverage Elements of a legal contract - Answer -Agreement (offer and acceptance) - Consideration - Competent parties - Legal purpose - Negotiation ...
J's Major Medical policy has a $2000 deductible and an 80/20 coinsurance clause. If J is hospitalized and receives a bill for $10,000, j would pay - Answer 3,600 (2k + 20% of thr remaining bill) Life insurance that covers an insured's whole life with level premiums paid over a limited time i...
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Add to cartJ's Major Medical policy has a $2000 deductible and an 80/20 coinsurance clause. If J is hospitalized and receives a bill for $10,000, j would pay - Answer 3,600 (2k + 20% of thr remaining bill) Life insurance that covers an insured's whole life with level premiums paid over a limited time i...
Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? - Answer policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until...
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Add to cartWhose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? - Answer policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until...
Insurance policies are considered aleatory contracts because: 1)they are take it or leave it contracts 2)both parties consent to the contract 3)performance is conditioned upon a future occurence 4)the contract is voidable upon proof of fraud - Answer Performance is conditioned upon a future o...
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Add to cartInsurance policies are considered aleatory contracts because: 1)they are take it or leave it contracts 2)both parties consent to the contract 3)performance is conditioned upon a future occurence 4)the contract is voidable upon proof of fraud - Answer Performance is conditioned upon a future o...
In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - Answer insuring clause under which circumstance MUST a health insurer have an expedited grievance review pr...
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Add to cartIn a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - Answer insuring clause under which circumstance MUST a health insurer have an expedited grievance review pr...
Refers to the location, or jurisdiction, where an insurer is formed or incorporated. - Answer Domicile Which of the following is an insurance company that is organized under the laws of another state within the United States? - Answer Foreign The USA Patriot Act was passed as a result o...
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Add to cartRefers to the location, or jurisdiction, where an insurer is formed or incorporated. - Answer Domicile Which of the following is an insurance company that is organized under the laws of another state within the United States? - Answer Foreign The USA Patriot Act was passed as a result o...
A health insurance policy application may ONLY be altered with the written consent of the - Answer Applicant All of these statements concerning a licensee's responsibility for premiums received are true EXCEPT - Answer The licensee shall hold them in a fiduciary capacity before transmittin...
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Add to cartA health insurance policy application may ONLY be altered with the written consent of the - Answer Applicant All of these statements concerning a licensee's responsibility for premiums received are true EXCEPT - Answer The licensee shall hold them in a fiduciary capacity before transmittin...
Defamation occurs when a producer makes a false statement intended to - Answer malign another user an applicant for a nonresident producer license must: - Answer be a producer in good standing in their home state Life insurance and annuity replacement can be BEST described as - Answer Ex...
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Add to cartDefamation occurs when a producer makes a false statement intended to - Answer malign another user an applicant for a nonresident producer license must: - Answer be a producer in good standing in their home state Life insurance and annuity replacement can be BEST described as - Answer Ex...
For coverage of low protein modified food products for treatment of PKU or any inherited disease of amino and organic acids, a health plan may require a reasonable copayment or coinsurance, not to exceed - Answer 50% of the cost of the formula or food products Which of the following is a requi...
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Add to cartFor coverage of low protein modified food products for treatment of PKU or any inherited disease of amino and organic acids, a health plan may require a reasonable copayment or coinsurance, not to exceed - Answer 50% of the cost of the formula or food products Which of the following is a requi...
Tenants in Common - Passed to surviving heirs - Answer Tenants do not have right of survivor ship. If a tenant dies, ownership is passed to the surviving heirs. Joint Tenancy - Right of Survivorship - Answer A form of concurrent ownership, which occurs when two or more persons own a single...
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Add to cartTenants in Common - Passed to surviving heirs - Answer Tenants do not have right of survivor ship. If a tenant dies, ownership is passed to the surviving heirs. Joint Tenancy - Right of Survivorship - Answer A form of concurrent ownership, which occurs when two or more persons own a single...
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 ...
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Add to cartAn 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 ...
Consideration - 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. mi...
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Add to cartConsideration - 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. mi...
Adverse Selection - Answer insuring of risks that are more prone to losses than the average risk agent/producer - Answer legal representative of insurance company producer - Answer includes agents and brokers agent - Answer agent of the insurer applicant - Answer a person ...
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Add to cartAdverse Selection - Answer insuring of risks that are more prone to losses than the average risk agent/producer - Answer legal representative of insurance company producer - Answer includes agents and brokers agent - Answer agent of the insurer applicant - Answer a person ...
Applicant - Answer The person making application for insurance coverage. Assignment - Answer Specifies that the insured may not transfer rights of ownership or interest in an insurance policy to another party without the insurer's written consent. Mutual Insurance Company - Answer Ow...
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Add to cartApplicant - Answer The person making application for insurance coverage. Assignment - Answer Specifies that the insured may not transfer rights of ownership or interest in an insurance policy to another party without the insurer's written consent. Mutual Insurance Company - Answer Ow...
Which of the following provisions is NOT mandatory for health insurance policies in this state? - Answer Unpaid premiums In individual health insurance coverage, the insurer must cover a newborn from the moment of birth, and if additional premium payment is required, how many days should be al...
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Add to cartWhich of the following provisions is NOT mandatory for health insurance policies in this state? - Answer Unpaid premiums In individual health insurance coverage, the insurer must cover a newborn from the moment of birth, and if additional premium payment is required, how many days should be al...
Title Insurance - Answer Insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. I...
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Add to cartTitle Insurance - Answer Insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. I...
Credit Life Insurance - Answer Written in connection with loans and credit transactions Graded Death Benefits - Answer Dows not pay full face amount of insurance at the insured's death until after a specific period has passed, usually 2-3 years. Universal Life Insurance - Answer Feat...
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Add to cartCredit Life Insurance - Answer Written in connection with loans and credit transactions Graded Death Benefits - Answer Dows not pay full face amount of insurance at the insured's death until after a specific period has passed, usually 2-3 years. Universal Life Insurance - Answer Feat...
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