100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Missouri State Exam Simulator - 145 Questions Weighted Exam, Missouri Life and Health Insurance State Exam Simulator- 200+ questions With 100% Verified Answer $10.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. Missouri State Simulator - 145
  4.  
  5. Missouri State Simulator - 145

Exam (elaborations)

Missouri State Exam Simulator - 145 Questions Weighted Exam, Missouri Life and Health Insurance State Exam Simulator- 200+ questions With 100% Verified Answer
 0 purchase
  • Course
  • Missouri State Simulator - 145
  • Institution
  • Missouri State Simulator - 145

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's account: - ANSWER-are restricted to maximum levels set by the IRS What is the purpose of a Policy Summary? - ANSWER-It highl...

[Show more]

Preview 4 out of 32  pages

Document information

  • May 18, 2024
  • 32
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • missouri state exam simulator 145 questions weig
  • missouri state exam simulator 145 questions stuv
  • a nondisabled individual is first eligible for a m

Written for

  • Missouri State Simulator - 145
  • Missouri State Simulator - 145

Seller

avatar-seller
IMORA

Reviews received

Content preview

Missouri State Exam Simulator - 145
Questions Weighted Exam, Missouri Life
and Health Insurance State Exam
Simulator- 200+ questions With 100%
Verified Answer

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's account: -
ANSWER-are restricted to maximum levels set by the IRS



What is the purpose of a Policy Summary? - ANSWER-It highlights the critical parts of
the policy issued



Jasmine is a salaried employee of an insurance company. Which of the following duties
would require her to be licensed as an insurance producer? - ANSWER-Soliciting
insurance policies



J's Major Medical policy has a $2,000 deductible and an 80/20 Coinsurance clause. If J
is hospitalized and receives a bill for $10,000, J would pay: - ANSWER-3,600



What kind of life insurance product covers children under their parent's policy? -
ANSWER-Term rider



A father who dies within 3 years after purchasing a life insurance policy on his infant
daughter can have the policy premiums waived under which provision? - ANSWER-
Payor Provision



A major medical policy typically: - ANSWER-provides benefits for reasonable and
necessary medical expenses, subject to policy limits

,In Major Medical Expense policies, what is the intent of a Stop Loss provision? -
ANSWER-Limits an insured's out-of-pocket medical expenses



What type of life insurance gives the greatest amount of coverage for a limited period of
time? - ANSWER-



Which of these statements concerning an Individual Straight Life annuity is accurate? -
ANSWER-Payments are made to an annuitant for life



Quarterly premium payments increase the annual cost of insurance because -
ANSWER-interest to the insurer is decreased while the administrative costs are
increased



Deductibles are used in health policies to lower: - ANSWER-overuse of medical
services



Which statement about a whole life policy is correct? - ANSWER-Cash value may be
borrowed against



When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a(n): - ANSWER-Anti-Money Laundering
violation



The sections of an insurance contract which limit coverage are called: - ANSWER-
exclusions



M is insured under a basic Hospital/Surgical Expense policy. A physician performs
surgery on M. What determines the claim M is eligible for? - ANSWER-Determined by
the terms of the policy



The situation in which a group of physicians are salaried employees and conduct
business in an HMO facility is called a(n): - ANSWER-closed panel

,With Disability Income insurance, an insurance company may limit the monthly benefit
amount a prospective policy holder may obtain because of the insured's: - ANSWER-
gross income at the time of purchase



The percentage of an individual's Primary Insurance Amount (PIA) determines the
benefits paid in which of the following programs? - ANSWER-Social Security Disability
Income



Which statement regarding the Change of Beneficiary provision is true? - ANSWER-the
policyowner can change the beneficiary



An IRA owner can start making withdrawals and NOT be subjected to a tax penalty
beginning at what age? - ANSWER-59 1/2



Which of these types of life insurance allows the policyowner to have level premiums
and to also choose from a selection of investment options? - ANSWER-Variable Life



Which of the following types of policies BEST identifies one in which the cash value may
fluctuate to reflect changing assumptions regarding mortality cost, interest, and expense
factors? - ANSWER-Universal Life



A policyowner would like to change the beneficiary on a Life insurance policy and make
the change permanent. Which type of designation would fulfill this need? - ANSWER-
Irrevocable



Which of the following services is NOT covered under a hospitalization expense policy?
- ANSWER-Surgeons Fees



A characteristic of Preferred Provider Organizations (PPOs) would be: - ANSWER-
Discounted Fees for the Patient



Life insurance and annuity replacement can be BEST described as - ANSWER-
exchanging an existing policy for a new policy

, In Missouri, all health policies must address diabetes coverage in which way? -
ANSWER-Apply the same deductible and copays to covered diabetic supplies as other
medical conditions



The reason for a business having a Business Overhead Expense Disability Plan is to
cover: - ANSWER-Fixed Business Expenses



Health insurance plans that cover physical therapy visits may NOT impose a copay that
- ANSWER-is greater than the copay for primary care office visits



A Renewable Term Policy is renewable at the option of the: - ANSWER-Insured



Which of the following provisions specifies how long a policyowner's health coverage
will remain in effect if the policyowner does not pay the premium when it is due? -
ANSWER-Grace Period



How would a contingent beneficiary receive the policy proceeds in an Accidental Death
and Dismemberment (AD&D) policy? - ANSWER-If the Primary Beneficiary dies before
the insured



Which of the following would a Medicare Supplement policy cover? - ANSWER-
Allowable amounts under Medicare Part B



Which type of policy pays benefits to a policyholder covered under a Hospital Expense
policy? - ANSWER-Reimbursment



Which type of life policy contains a monthly mortality charge as well as self-directed
investment choices? - ANSWER-Variable Universal Life



Who benefits in Investor-Originated Life Insurance (IOLI) when the insured dies? -
ANSWER-Policyowner

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller IMORA. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$10.99
  • (0)
Add to cart
Added