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

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  • 18 de mayo de 2024
  • 32
  • 2023/2024
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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

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