Life and Health Part 3.

Basic Expense

Which of the following provides coverage on a first-dollar basis?

Payment of Claims

Which of the following provisions would prevent an insurance company from paying a reimbursement claim to someone other than the policyowner?

Decreasing Term

Which of the following types of insurance policies is most commonly used in credit life insurance?

Split-dollar plan

Which of the following would considered a non-qualified retirement plan?

Notify the requesting enrollee of the carrier's determination

What must a health carrier do within 72 hours of receiving a request for an expedited review

Time of Payment of Claims

Which provision states that the insurance company must pay Medical Expense claims immediately?

12 months

If an individual producer's license expires and the producer doesn't want to pass a written exam, the license must be reinstated within what time period from the renewal date?

50%

In order for a life insurance policy with graded death benefits to be issued to an individual over the age of 76, the first year death benefit must be least what percentage of the total face amount of the policy?

Rent

In the event of a loss, business overhead insurance will pay for

Outpatient Hospital Treatment

Medicare Part A services do NOT include which of the following?

Not tax deductible

Premium payments for personally-owned disability income policies are

Insurable Interest

Stanger-originated life insurance policies are in direct opposition to the principal of

Insurers

The Missouri Life and Health Insurance Guaranty Association was created to protect all of the following EXCEPT

At least 2 and not more than 50 persons

The classification "small employer" means any person actively engaged in a business during the preceding calendar year employed

the amount to be repaid under the contract

The initial amount of credit life insurance may NOT exceed

Entire Contract

The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contained in the contract is the

NAIC

A long-term care insurance shopper's guide must be provided in the formal developed by which of the following?

A reinstated policy provides immediate coverage for an illness

All of the following are correct about the required provisions of a health insurance policy EXCEPT

pre-existing conditions exclusions

All of the following are required provisions in group health policies in this state EXCEPT

They cover the cost of extended nursing home care

All of the following statements about Medicare supplement insurance policies are correct except

The insured may choose to convert to term or permanent individual coverage

An employee is insured under her employer's group life plan. If she terminates her group coverage, which of the following statements is INCORRECT?

The beneficiary

The primary beneficiary of her husband's life policy found that no settlement option was stated in the policy on the date of her husband's death. Who will select the settlement option in this case?

Coinsurance

The provision that provides for the sharing of expenses between the insured and the insurance company is

Annually

Insurers that issue individual variable contracts in this state are required to mail the policyowner a statement of the investments. How often must they mail the statement?

Must be informed of the source of the report

Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report

Diagnostic and preventative care

What is an important feature of a dental expense insurance plan that is nOT typically found in a medical expense insurance plan?

200% of the commission paid for the servicing of the policy in the second year.

What is the maximum first-year commission that a producer may receive for the sale of a Medicare supplement policy?

Old Age Survivors Disability Income

What is the offficial name for the Social Security program?

36 Months

What is the period of coverage for events such as death or divorce under COBRA

100%

What percentage of a company's employees must take part in a noncontributory group life plan?

Increases annually

Annually renewable term policies provide a level death benefit for a premium that

Payment of premium

With respect to the Consideration Clause, which of the following would be considered consideration on the part of the applicant for insurance?

Cancellable

What type of policy allows the insurance company to cancel the policy at any time?

It is reduced to the amount of what the cash value would buy as a single premium

When a reduced-paid up nonforfeiture option is chosen, what happens to the face amount of the policy?

The period of time during which accumulated money is converted into income payments

Which of the following best describes what the annuity period is?

Outline of coverage

Which of the following documents provides a disclosure of a Medicare supplement policy

Insurer

Which of the following entities can legally bind coverage?

Insurer's executive officer

Which of the following entities has the authority to make changes to an insurance policy?

The insurer can increase the policy premium on an individual basis

Which of the following is NOT a feature of guaranteed renewable provision?

Group health insurance

Which of the following is NOT among the lines of authority for which an insurance producer may qualify in the state of Missouri?

Coverage for Dependents

Which of the following is NOT an exclusion in medical expense insurance policies?

It would not occur in a deferred annuity

Which of the following is NOT true regarding the accumulation period of an annuity?

Pay-in period

Which of the following is another term for the accumulation period of an annuity?

Application

Which of the following is the basic source of information used by the company in the risk selection process?

Benefits amy be subject to deductible and copayments not greater than those applied to any other covered illness

Which of the following is true of benefits provided in a health insurance policy for insureds that are diagnosed with diabetes?

Dividends are not taxable

Which of the following is true regarding taxation of dividends in participating policies

Term rider

Which of the following, when attached to a permanent life insurance policy, allows the policy owner to customize the policy to provide an additional amount to temporary insurance on the insured, allows amounts of temporary insurance to cover other family members?

Replacement Rule

Which rule would apply is an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance?