MO life and health missed questions

Has been active for five years minimum

In order for an alumni association to be eligible to purchase group health insurance for its members, all of these statements must be true EXCEPT when the association

cash surrender value

in a variable life insurance policy, all of the following are held in the company's general account except

impairment rider

rider that would not increase the premium for a policyowner

Reinstatement

which of the following is a provision in life insurance companies?

they are prohibited

which of the following is true about retrospective commissions to insurers in this state?

cash values grow tax deferred

which of the following is true of the taxation of cash values in a business life insurance policy?

the insurer determined the policyowner unisurable 2 years after the policy was issued

which of the following scenarios would NOT allow the insurer to contest the validity of a life insurance policy?

an MEC must always pass the 7-pay test

which of the following statements is INCORRECT concerning Modified Endowment Contracts (MECs)?

all additional provisions written by insurers are cataloged by their respective states

which of the following statements is NOT true regarding health insurance policy provisions?

Misrepresentation

An insurance agent visits a potential client and explains various types of polices. The customer displays a lack of interest, so the agent guarantees higher dividends than he knows would be possible. Which term describes what the agent has done?

The insurer can increase the premium above what is stated in the policy if claims experience is greater than expected

which of the following is NOT true regarding a noncancellable policy?

it provides the agent's personal observations concerning the proposed insured

which of the following statements is TRUE regarding an Agent's Report during the policy application process?

Residual Benefit

which of the following terms relates to disability income insurance?

only an executive officer of the company

with respect to the entire contract clause in health polices, who has the authority to make changes to an existing policy?

Family

a husband and wife both incur expenses that are attributed to a single major medical insurance deductible. Which type of deductible do they have in their policy?

from birth to age 3

a non-medicaid health carrier plan issued in this state must provide coverage for early intervention services for children of what age?

it will be equal to or greater than the initial face amount

a variable life policyholder who owns a scheduled premium policy experiences many months of negative returns in the policy's subaccounts. In regards to the minimum death benefit

a percentage of the face amount of the policy

a viatical settlement is a transaction out the life insurance company where the owner sells the life insurance policy for which of the following?

a policy is reissued with reduction in cash value

according to the life insurance replacement regulations, which of the following would be an example of policy replacement?

at least 48

all heath insurance polcies issued in this state must provide coverage for maternity services. How many hours of inpatient care must be provided to a mother after a vaginal delivery?

proof of insurability must be provided at each renewal

all of the following are true of annually renewable term insurance EXCEPT

3 days

an insurer must notify the consumer in writing that an investigative consumer report has been requested, within how many days of the initial request?

Nonforfeiture Values

Cash values guarantees in a whole life policy are called

cover a mortgage

Decreasing Term insurance is often used to

31 days

Group life insurance policies issued in this state must offer a grace period of at least

he left the policy with the insured without collecting the premium

An agent delivers a life policy. He explains a policy change was made and asks the applicant to sign a statement acknowledging the changes were explained. the agent says the premium has not been paid and must be paid before the policy goes into effect. He collects a Statement of Good Health, relinquishes the policy, and leaves. What did he do wrong?

He won't collect anything

An insured has a individual disability income policy with a 30-day elimination period. He becomes disabled on June 1st for 15 days. When will he collect on his disability income payments?

The underwriters approve the application

If am applicant submits the initial premium with an application, which action constitutes acceptance?

Fixed Amount

J is receiving fixed amount benefit payments from his late wife's insurance policy. He was told that if he dies before all of benefits are paid, the remaining amount will go to the contingent beneficiary. Which settlement option did J choose

establish a maximum amount of out-of-pocket expense that an insured will have to pay for medical expense in a calendar year

The "stop-loss" feature on a major medical policy is intended to

$100

What fee would a business entity be required to pay in order to obtain an insurance producer's license?

For life with no maximum age limit

What is the maximum age that a disabled insured worker may receive Social Security disability benefits?

60 days after submitting proof of loss

When can an insured initiate legal action against the insurer?

Only if the individual is not identified

When may HIV-related test results be provided to the MIB?

monthly

following a covered loss, the Time Payment of Claims Provision requires that an insurance company pay disability income benefits no less frequently than

both producers must be currently licensed for the same line of authority as the transaction

for a producer to share his commission with another producer, which of the following must be true?

policy continues in force during the grace period, 31 days, required the payment of pro rate premium

grace period provision

1 month

how long is the grace period for an individual life insurance policy?

prior to performance of the test

if a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure

Taxation of Benefits

if the insurance premiums were not tax deductible, what other taxation will the affect?

a baseline mammogram for women age 35-39

individual and group health policies in this state will cover which of the following procedures for women?

principal sum

on an accidental Death and Dismemberment (AD&D) policy, the death benefit payable is known as the

copy of the insurability clause

outlines of coverage, delivered upon a Medicare supplement policy application, must include all of the following EXCEPT

Whenever the insurer finds the evidence of insurability satisfactory

the insurer of a credit life policy requires evidence of insurability from the debtor. The debtor becomes obligated to the creditor on March 1st, and the evidence of insurability is provided to the insurer on March 30th. When will the term of insurance begin?

insuring clause

the provision that sets forth the basic agreement between the insurer and the insured and states the insurer's promise to pay the death benefit upon the insured's death is call the

Joint and survivor

the type of settlement option which pays throughout the lifetimes of two or more beneficiaries

absolute and collateral

two types of assignments

within 20 days

under the mandatory uniform provision "Notice of Claim", written notice of claim must be submitted to the insurer within what time parameters?

60 days after written proof of loss has been submitted

under the mandatory uniform provision Legal Actions, an insured is prevented from bringing a suit against the insurer to recover on a health policy prior to

90 days

under the mandatory uniform provision Proof of Loss, the claimant must submit proof of loss within what time period after the loss?

to state what and how much is covered in the plan

what is the purpose of a benefit schedule?

the right to assign additional riders

which of the following are NOT assignability provisions relating to the assignment of ownership by a person under a group life policy?

one that is severe enough that the insured automatically qualifies for full disability benefits

which of the following best describes a presumptive disability?

mental retardation

which of the following is NOT required coverage in health insurance policies in Missouri?

group health

which of the following policies must provide coverage for child immunization from birth to age 5

Being permanently disabled

which of the following would NOT trigger the payment of accelerated death benefits?

the insurer

who must maintain control and responsibility over all dissemination of an insurer's advertising?

the insured

with Adjustable Life, the owner can change all of the following EXCEPT

Paid-up additions

Which dividend option will increase the death benefit?

the insured had continuous coverage under the policy

Which of the following scenarios would require that an insured is provided with a conversion option from group to individual health insurance coverage?

Insurer

all of the following must sign an application for health insurance EXCEPT the

the death benefit is not guaranteed

all of the following statements about indexed whole life insurance are correct EXCEPT

the premium is based on the age of each insured

all of the followoing are true of the Survivorship Life policy EXCEPT

Benefits paid will be those that would have been purchased at the correct age

an applicants misstates his age on his application for a health insurance policy. He states that he is 39, but his actual age is 49. When he files a claim, what will most likely happen?

Currently Insured

an employee dies having 6 quarters of coverage during the previous 13-quarter period. What status of coverage does the employee have under Social Security?

Convert to a whole life policy for the same face amount without proof of insurability

an individual has a $200,000 convertible term life insurance policy. If he chooses, he can

guaranteed insurability option

an individual is purchasing a permanent insurance policy with a face

3 months

an insured recently discovered that the interest rate on his policy loan once again increased. Legally speaking, which of the following is the shortest amount of time that could have passed since the last change in the insured's interest rate?