Final exam Michigan life and health EXAM QUESTIONS AND ANSWERS 100% ACCURATE!
9 views 0 purchase
Course
Michigan life and health EXA
Institution
Michigan Life And Health EXA
Fixed period settlement options are considered to be a form of a(n) - ANSWER annuity
Ownership of a life insurance policy may be temporarily transferred with a(n) - ANSWER collateral assignment
Gina the producer caused financial harm to an insured. Which of these actions may the Commissioner ...
, Final exam Michigan life and health EXAM
QUESTIONS AND ANSWERS 100%
ACCURATE!
Fixed period settlement options are considered to be a form of a(n) - ANSWER annuity
Ownership of a life insurance policy may be temporarily transferred with a(n) -
ANSWER collateral assignment
Gina the producer caused financial harm to an insured. Which of these actions may the
Commissioner take? - ANSWER Revoke Gina's license after a hearing concludes a
violation has occurred
Converting a group plan to permanent life insurance requires - ANSWER The
conversion being applied for within 31 days of termination
David submits a $500 claim for medical expenses. There is a past-due amount owed for
insurance premiums of $200. As a result, the insurer only pays $300 for the claim. This
deduction came as a result of which provision? - ANSWER Unpaid provision
An example of an unfair claims settlement practice is - ANSWER Failing to promptly
provide reasonable explanations for the denial of claims
A health insurance policy will typically cover - ANSWER preventative health services
The acceptance of a credit life application requires the submission of a certificate of
insurance to the insured within ___ days. - ANSWER 30
All of the following are functions of an insured clause EXCEPT - ANSWER primarily
described the free-look period
The type of multiple protection coverage that pays on the death of the last person is
called a(n) - ANSWER Survivorship life policy
A beneficiary has just received a claim payment for a life insurance policy. Which of the
following is TRUE regarding the federal income tax liability owed? - ANSWER No
federal income tax is owed on life insurance proceeds
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Luckyexams. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
