Life producer mi - Study guides, Class notes & Summaries
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LIFE PRODUCER EXAM (MI) QUESTIONS AND ANSWERS
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LIFE PRODUCER EXAM (MI) QUESTIONS AND ANSWERS
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Practice Test MI Life Producer Exam Questions and Answers
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Practice Test MI Life Producer Exam Questions and Answers
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Practice Test MI Life Producer Graded A+
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Practice Test MI Life Producer Graded A+ 
1. Convertible Term Insurance: Provides temporary protection that can be converted to permanent 
protection without requiring evidence of insurability. 
2. Variable Universal Life Policy: Backed by equity investments and allows the policyholder to adjust the 
death benefit. 
3. Common Types of Permanent Life Insurance: Includes Variable Life, Whole Life, and Universal Life. 
4. Increasing Term Life Policy: It typically begins with little or no insu...
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MI laws & rules questions and answers already passed
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MI laws & rules questions and answers 
 
already passed 
 
An employee is REQUIRED to work AT LEAST how many hours in a normal week to be 
eligible for small employer group insurance? 17.5 
 
According the the taft hartley act, group insurance premium payments made by an employer 
must be paid to the trust 
 
If an insured, unmarried child is incapable of self support because of a mental handicap, how 
long must this chide be provided health coverage under the parents policy? Until policy 
termi...
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LIFE PRODUCER EXAM (MI) EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
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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...
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LIFE PRODUCER EXAM (MI) STUDY QUESTIONS AND ANSWERS UPDATED 2024
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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...
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Final Exam-Michigan Life and Health Exam Questions And Answers (Verified And Updated)
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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...
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2024 Final Exam-Michigan Life and Health Questions And Answers Rated A+ New Update Assured Satisfaction
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What amount will be paid under a policy where the insured misstated his/her age? - Answer-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 - Answer-30 days 
which of these is considered to be a Living benefit option in a life insurance policy - Answer-Accelerated 
death benefit 
loans obtained by a policy owner against the cash value of a life insuranc...
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MI LIFE PRODUCER EXAM QUESTIONS AND ANSWERS
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MI LIFE PRODUCER EXAM QUESTIONS AND ANSWERS
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MI VARIABLE LIFE AND ANNUITIES PRODUCER
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A variable annuity has a payout that is - Answer-Contingent upon the profitability of the investment portfolio 
 
Which of the following would be considered the largest cost incurred on the value of a variable annuity? 
a) the cost of insurance 
b) Mortality fee 
c) Investment management fee 
d) Administrative expenses - Answer-c) Investment management fee 
 
The two main categories of policy loan interest rates are - Answer-Fixed and variable 
 
Which of the following types of policies would al...
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