Final Exam - Michigan Life and Health Questions With100%Verified Answers A+ GRADED(Download To Pass!!!)
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Course
Michigan life insurance
Institution
Michigan Life Insurance
Final Exam - Michigan Life and Health Questions With100%Verified Answers A+ GRADED(Download To Pass!!!)
in which of the following situations, would the insurer be liable for a loss? - correct answer...The insurer suffered an injury as an innocent bystander during a bank robbery.
The election ...
Final Exam - Michigan Life and Health
Questions With100%Verified Answers A+
GRADED(Download To Pass!!!)
in which of the following situations, would the insurer be liable for a loss? - correct
answer...✔✔The insurer suffered an injury as an innocent bystander during a bank
robbery.
The election of COBRA for continuation of health coverage will - correct
answer...✔✔maintain the same coverage and increase premium
Which of these would not be considered a presumptive disability? - correct
answer...✔✔Loss of a leg or arm
which of the following actions is required by a producer who is replacing an existing life
insurance policy? - correct answer...✔✔Submit to the replacing ensure a list of the
policies to be replaced
The free look provision gives the policy owner - correct answer...✔✔the right to return
the policy for a full refund within a specified number of days
A partial surrender is allowed in which of the following life policies? - correct
answer...✔✔Universal Life
Over the course of a year, which premium payment mode is most expensive? - correct
answer...✔✔Monthly
Under a nonqualified annuity, interest is taxed after the - correct answer...✔✔exclusion
ratio has been calculated
What is the purpose of the medical information bureau? - correct answer...✔✔To help
underwriters evaluate risk
What makes an insurance policy a unilateral contract? - correct answer...✔✔Only the
insurer is legally bound
A fee for service health insurance plan will normally cover - correct answer...✔✔a
disease
which of the following is typically not eligible for coverage in a group health policy? -
correct answer...✔✔Temporary Employee
AGRADESOLUTIONS
, According to the Taft-Hartley Act, group insurance premium payments made by an
employer MUST be paid to the - correct answer...✔✔trust
any change of address by a licensee requires notice within 30 days to which of the
following? - correct answer...✔✔commissioner
Funding for Medicare part B is partially provided by - correct answer...✔✔user
premiums
The monthly benefit for an individual disability income policy is usually limited to a
percentage of the insured's income in order to avoid - correct answer...✔✔over
insurance
disability income plans, which require that the insurer can never change or alter
premium rates are usually considered - correct answer...✔✔Noncancellable
How is a health provider reimbursed if they do NOT have an agreement in place with
the insurance company? - correct answer...✔✔With a usual, customary, and
reasonable fee
for individual health insurance coverage for pre-existing conditions may be excluded for
up to ___ months after issuance of the policy - correct answer...✔✔12
A provision that allows a policy owner to temporarily give up ownership. Rights to
secure loan is called a - correct answer...✔✔collateral assignment
An example of intimidation is - correct answer...✔✔using threat or force to restrict fair
trade in the transaction of insurance
An example of endodontic treatment is a - correct answer...✔✔root canal
The waiver of premium does not include which provision? - correct answer...✔✔All
future premiums are waived if the insured recovers from the disability
The limited period of time given to all members to sign up for a group health plan is
called the - correct answer...✔✔enrollment period
Matt is applying for life insurance and requests a double indemnity rider. A double
indemnity benefit will be payable to Matt's beneficiary if Matt - correct answer...✔✔dies
instantly from a car accident
tara the producer is delivering a specified disease insurance policy to a new policy
owner upon delivery she may be expected to collect all the following, except a - correct
answer...✔✔Modified application with a new signature
AGRADESOLUTIONS
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