Life producer exam mi - Study guides, Class notes & Summaries

Michigan Life And Health Final Exam Questions & Answers, 100% Rated-What amount will be paid under a policy where the insured misstated his/her age? - an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a poli...

Practice Test MI Life Producer Exam Questions and Answers

LIFE PRODUCER EXAM (MI) EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Which of the following is NOT true regarding a Certificate of Authority? a)It may be necessary for transacting business in a specific state. b)It is equivalent to an insurance license. c)It is issued by the state department of insurance. d)It is issued to group insurance participants. Correct Answer: d) It is issued to group insurance participants. Before insurers may transact business in a speci...

Which of the following is NOT true regarding a Certificate of Authority? a)It may be necessary for transacting business in a specific state. b)It is equivalent to an insurance license. c)It is issued by the state department of insurance. d)It is issued to group insurance participants. - d) It is issued to group insurance participants. Before insurers may transact business in a specific state, they must apply for a license or Certificate of Authority from the state department of insuranc...

MI LIFE PRODUCER EXAM QUESTIONS AND ANSWERS

Final Exam-Michigan Life and Health Exam Questions And Answers (Verified And Updated) What amount will be paid under a policy where the insured misstated his/her age? - answeran amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - answer30 days which of these is considered to be a Living benefit option in a life insurance policy - answerAccelerated dea...

Jane works for a company that allows employee contributions under a 401(k) plan. When will Jane become fully vested in her plan contributions? - immediately//While employer contributions to a qualified plan can be subject to a vesting schedule, participants are always fully vested in their own contributions. Agents must act in the best interests of applicants and insureds. What does this require them to do? - give all important information about a proposed policy//Agents must act in the appli...

LIFE PRODUCER EXAM (MI) final verified 100% Which of the following is NOT true regarding a Certificate of Authority? a)It may be necessary for transacting business in a specific state. b)It is equivalent to an insurance license. c)It is issued by the state department of insurance. d)It is issued to group insurance participants. - d) It is issued to group insurance participants. Before insurers may transact business in a specific state, they must apply for a license or Certifica...

What amount will be paid under a policy where the insured misstated his/her age? - an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within days - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy - would not be treat...