insurance

Jay's application for a producer's license has been denied. He may request a hearing within __ days after receipt of the denial

30

An insurer may exclude pre-existing conditions coverage on a Medicare Supplement policy for up to

6 months

S has a Whole Life policy with a premium payment due soon. Which provision would keep the policy in force if S does not make the required payment and the policy has adequate cash value from which the premium payment can be made?

Automatic Policy Loan

Each life insurance applicant in Missouri is expected to be provided with a(n)

Buyer's guide and Policy Summary

An example of life insurance policy replacement would be?

Cash surrender an existing whole life policy and purchasing a new whole life policy

Which of these is a true statement regarding how missouri law recognizes an association eligible for group coverage?

The association must NOT have been organized for the purpose of obtaining insurance

Life insurance and annuity replacement can be best described as

exchanging an existing policy for a new policy

All of these are characteristics of an Adjustable Life policy EXCEPT

face amount can be adjusted using policy dividends

Who may assign benefits from a group life insurance policy?

insured

Health insurance plans that cover physical therapy visits may NOT impose a copay that

is greater than the copay for primary care office visits

The conversion provision in a group health insurance policy

is mandated by state requirements

A producer is circulating incorrect information about the benefits of a policy. This producer may be found guilty of

misrepresentation

A licensee must complete __ hours of continuing education every 2 years

16

Which of these is a TRUE statement regarding the regulatory authority of the Director?

The director may establish guidelines for continuing education

All of these statements concerning a licensee's responsibility for premiums received are true EXCEPT

The licensee must hold them in a separate account before transmitting them to the insurance company

For the treatment of PKU, a health plan MUST cover formula and low protein modified food products for

covered children less than six years of age

After a life insurance policy has been in force for a MAXIMUM of __ year(s), it becomes incontestable.

2

Which of the following is NOT a required provision in a group life policy?

Accidental Death and Dismemberment

Which of the following would a Medicare Supplement policy cover?

Allowable amounts under Medicare Part B

Which of these is NOT a duty of the Director?

Create new insurance laws

An insurer may not transact insurance UNLESS authorized by the

Director of Insurance

What is the purpose of the Missouri Life and Health Insurance Guaranty Association?

Ensures that claims filed against insolvent insurance companies will be paid

In MO, a health insurance policy that is not exempt from state-mandated benefits must cover childhood immunizations and shall not charge any deductible or copayment. The EXCEPTION to this would be

HMO's that exclude coverage to subscribers who obtain services by a non-participating provider

Which licensee faces possible license revocation by the Director of Insurance?

Licensee who commingles monies belonging to policyholders with personal funds

Which Medicare product requires use of specific hospitals and physicians for non-emergency care?

Medicare Select

Which of the following activities may NOT be granted as credit for continuing education units?

Meeting sales quotas

Which Unfair Trade Practice involves a producer suggesting that an insurance policy is like a share of stock?

Misrepresentation

___ can be defined as "making an unfair comparison of two insurance policies."

Misrepresentation

What must a producer sign when an existing life insurance policy is being reissued with a reduction in cash value?

Notice Regarding Replacement

Which of the following is a requirement for obtaining a resident producer license in Missouri?

Pay a $100 license fee

Under which circumstances MUST a health insurer have an expedited grievance review procedure?

When the enrollee's life or health is jeopardized

When a group accident and health policy is issued to an employer,

a policy is issued to the employer and a certificate is issued to each employee

Which of these is considered an unfair trade practice?

a producer stating that a policy's dividends are guaranteed

When making a recommendation to a consumer to purchase an annuity, the producer must make reasonable efforts to obtain suitability information. Suitability information includes

age, annual income, financial experience

A health insurance policy application may ONLY be altered with the written consent of the

applicant

An applicant for a nonresident producer license MUST

be a producer in good standing in their home state

Health coverage for the administration of general anesthesia and hospital charges for dental care MUST be provided to a(n)

child under the age of five

Any state-regulated health insurance plan issued in Missouri MUST

cover childhood immunization services

During the course of a Medicare Supplement same, T the producer determines there is an existing policy being replaced. Which of these actions is this producer NOT required to perform?

notify the Director of the replacement

At the time of application, major medical health plans (including HMOs) are required to

offer coverage for prosthetic devices

An example of rebating would be

offering a client something of value not stated in the contract in exchange for their business

XYZ Corp was issued a group health policy for its employees. Under this plan a

policy must be issued to XYZ, and a certificate must be issued to each employee

Whose interest is being protected by the enactment of "The Replacement of Life Insurance and Annuities" regulation?

policyowner

Who signs a "Notice Regarding Replacement" form when an application is taken for a new life insurance policy that replaces an existing one?

producer and applicant

A producer has influenced an existing policyowner to convert an existing whole life policy to Reduced Paid-Up insurance. The producer then sells the policyowner a new universal life policy. This transaction is called a(n):

replacement

When making a recommendation to a consumer to purchase an annuity, the producer must make reasonable efforts to obtain

suitability information

In Missouri, an A&H policy that is paid on a monthly basis requires a grace period of at LEAST

ten days

What type of life insurance gives the greatest amount of coverage for a limited period of time?

term life

Under Missouri law, when one group health plan's contract replaces an existing group health plan with similar benefits

the succeeding carrier shall give credit for the satisfaction of any deductibles or waiting periods satisfied or partially satisfied under the prior carrier's plan

Group Life policies in Missouri are required to contain a conversion privilege that allowed for conversion

to an individual policy for a stated period of time

T is an employee covered under a Group Life policy. If T's employment is terminated, the conversion privilege gives T the right to convert

to an individual policy upon employment termination

An example of an unfair claims settlement practice is

turning down a claim without providing the basis of denial

A hearing must be held before a producer's license can be suspended or revoked. Prior to this hearing, the Director is required to give

written notice to the producer