Provided Quizzing: Chapter 14: Missouri State Laws

A health policy must cover a newborn child for how many days after birth? 25 days 21 days 45 days 31 days

31 days

Group life insurance contracts must contain a grace period provision of how many days? 14 days 31 days 90 days 60 days

31 days

Coverage for immunizations must be provided for children up to age ______. 10 18 5 15

5

If disciplinary action against a producer resulted in monetary relief of $200 or less, the producer's record will be expunged after ______ years. 10 7 5 3

5

The Director may conduct a financial examination of an insurer whenever necessary but no less often than every _____ years. 3 10 5 7

5

Insurers must maintain advertisements in a file for how long after each advertisements' discontinuance of use? 3 years 7 years 5 years 2 years

5 years

What is the maximum life insurance policy loan interest rate in this state? 2% 8% 5% 12%

8%

What must a producer provide when replacing a life insurance policy? A policy information page A premium invoice A Notice Regarding Replacement signed by the producer and applicant A list of all insurance policies purchased by the applicant

A Notice Regarding Replacement signed by the producer and applicant

All variable annuity contracts must contain which of the following provisions: A 2-year reinstatement period A grace period of 31 days A grace period of 30 days A 3-year reinstatement period

A grace period of 30 days

Which of the following is NOT a required disclosure provision in a LTC policy? Benefit triggers Status as tax-qualified Renewability Investment options

Investment options

When must a producer notify the Director of any change in legal address? Within 30 days Within 15 days Within 90 days Never

Within 30 days

A married couple are insured by the wife's employer's group health insurance policy. When they become divorced, will the husband still be covered? Yes, if he informs the plan administrator within 60 days after the divorce is final No, the divorce eliminates his opportunity to be insured Yes, but only if the wife approves the continuation of coverage Yes, but only if the he requests coverage within 30 days after the divorce is final

Yes, if he informs the plan administrator within 60 days after the divorce is final

Within how many days must an insurer notify the Director of the appointment of an agent? 45 60 30 15

30

What is the maximum limit of coverage provided by the Association for the death benefits under a life insurance policy? $25,000 $300,000 $750,000 $1 million

$300,000

Life insurance policies in Missouri may contain a suicide exclusion for up to: 1 year after the policy's issue date 2 years after the policy's issue date 10 years after the policy's issue date 3 years after the policy's issue date

1 year after the policy's issue date

How many hours of approved continuing education must Missouri insurance producers complete during a license renewal period? 24 12 16 14

16

The insurer must keep a copy of all replacement documents for what period of time? 7 years 90 days 3 years 2 years

3 years

Which of the following is not a policy requirement of a variable life insurance policy? A 31-day grace period Description of benefit calculations Minimum death benefit 3-year reinstatement period

3-year reinstatement period

If the Director issues a summary order due to violations, the producer may request a hearing within how many days of notice of the order? 15 45 60 30

30

Which of the following statements BEST describes an insurer's use of advertisements for a Medicare supplement policy? Ads for Medicare supplement coverage must first be approved by the Director Insurers are not permitted to advertise Medicare supplements Ads for Medicare supplement coverage are the responsibility of the producer Insurers have no restrictions with respect to Medicare supplement ads

Ads for Medicare supplement coverage must first be approved by the Director

What type of insurer is placed under an order of liquidation by the court? An admitted insurer An impaired insurer A member insurer An insolvent insurer

An insolvent insurer

In Missouri, an LTC policy MAY do which of the following? Be terminated because of the insured's age Exclude pre-existing conditions for more than 6 months Only provide coverage for skilled nursing care Be terminated for non-payment of premium

Be terminated for non-payment of premium

Which of the following is NOT a penalty for refusing to testify in a Department hearing? Being held in contempt Being assessed a civil penalty up to $5,000 per violation Being ordered to testify in circuit court Being required to appear before the Director

Being assessed a civil penalty up to $5,000 per violation

A producer's license may be revoked or suspended for all of these reasons, except: Being charged with a felony Having an insurance license suspended or revoked in another state Being convicted of a crime involving moral turpitude Knowingly violating a state insurance law

Being charged with a felony

How often does a producer's license renew? Triennially (once every 3 years) Biennially (once every 2 years) Annually (once a year) Quinquennially (once every 5 years)

Biennially (once every 2 years)

Health policies must provide coverage for all of the following, except: Childhood immunizations to age 12 Chemical dependency Autism spectrum disorders Clinical trials

Childhood immunizations to age 12

Which of the following is NOT one of the requirements of telehealth services? Benefits must be provided on the same basis as that service would be provided if delivered in person Deductibles, copayments, and coinsurance cannot be higher or imposed differently that for services provided in person Coverage for services from out-of-network providers must be the same as in-network providers All policies are prohibited from denying or excluding coverage for services provided through telehealth if the same services are covered face-to-face

Coverage for services from out-of-network providers must be the same as in-network providers

Which of the following is NOT a duty of the Director of Insurance? Prescribe forms and procedures Conduct hearings Create Missouri insurance laws Regulate the Department of Insurance affairs

Create Missouri insurance laws

A producer who makes a derogatory statement about a competing insurer's financial condition is guilty of what unfair trade practice? Defamation Twisting Coercion Intimidation

Defamation

Health policies must provide coverage for all of the following, except: Dental care for children up to age 18 Chiropractic care Low protein modified food products Cancer screenings

Dental care for children up to age 18

Missouri law requires what standard of fiscal care and conduct of producers? Legal capacity Care of a trustee Fiduciary responsibility Financial duty

Fiduciary responsibility

Which of the following is NOT a provision in a group life insurance policy? Funeral benefit up to $1,000 if there is no designated beneficiary 2-year incontestable provision 31-day grace period Individual policy conversion privilege after 5 years

Funeral benefit up to $1,000 if there is no designated beneficiary

An LTC policy that only allows the insurer to increase a policy premium if it increases the premiums for all policies issued to the same class of individuals is considered: Qualified Nonqualified Guaranteed renewable Noncancellable

Guaranteed renewable

Which of the following is not a required provision of the group health policy? The insurer must provide the policyholder with a 31-day notice of cancellation before it becomes effective Benefits other than for loss of time must be paid within 30 days of proof of loss Incontestable clause applies after the policy has been in force 3 years 31-day grace period

Incontestable clause applies after the policy has been in force 3 years

Which of the following statements BEST describes Missouri law about the offer of inflation protection benefits with respect to LTC insurance? Insurers must obtain rejections of inflation protection in writing Inflation protection coverage must be automatically included in all policies Inflation protection coverage is required for all applicants age 80 or older Insurers do not have to offer inflation protection

Insurers must obtain rejections of inflation protection in writing

How is a Universal Life insurance policy different from other types of life insurance? It includes interest credits and mortality charges in the basic policy It provides a death benefit It does not provide a death benefit It separately identifies interest credits and mortality charges

It separately identifies interest credits and mortality charges

Required coverages for Cancer Screenings apply to which of the following policies? Medicare Supplement Major Medical Long-Term Care Short-term Major Medical of less than 6 months

Major Medical

Making a false statement about the benefits or the nature of an insurance policy is what unfair trade practice? Twisting Unfair discrimination Misrepresentation Defamation

Misrepresentation

Which of the following is true about the Missouri insurance cease and desist order? Notice of intent to initiate administrative action must be served personally or by certified mail Violation may result in a minimum fine of $100,000 It is the only recourse to stop an insurance unfair trade practice An alternative to a cease and desist order is federal court action

Notice of intent to initiate administrative action must be served personally or by certified mail

Which of the following is NOT a qualification for obtaining an insurance producer license? Being at least 18 years old Paying a $200 license fee Passing a licensing exam Not committing a prohibited act

Paying a $200 license fee

An insurer is permitted by law to pay commissions to each of the following, except: Property and casualty producer for the sale of life insurance P&C producer for the sale of surplus lines insurance Licensed producer who negotiates an insurance contract Licensed producer with a compensation agreement based on loss experience

Property and casualty producer for the sale of life insurance

Which of the following statements about producer licenses is TRUE? An individual initiating sales over the telephone is exempt from licensing Resident and nonresident producer licenses renew every 3 years Resident producer licenses are issued for 2 years An employee who processes claims and does not get paid commission is required to obtain a producer license

Resident producer licenses are issued for 2 years

All of the following advertising standards exist in Missouri, except: Ad may not use insurance jargon Ads may not use words like 'all,' 'full,' or 'complete' Renewal premiums must be displayed if different from initial premiums Testimonials must be facts

Testimonials must be facts

Which of the following health plans is considered the primary plan to pay a claim if more than one form of health insurance is in place to cover a loss? The plan issued to the custodial parent The plan issued to the non-custodial parent The plan that has been in force for the longest time The plan with the highest deductible

The plan issued to the custodial parent

Medicare supplement marketing standards must be established to assure all of the following, except: Excessive insurance is not sold or issued Policy comparisons will be fair and accurate Every effort is made to identify if the applicant has existing insurance To promote the use of cold lead advertising

To promote the use of cold lead advertising

In personal insurance transactions, producers must do all of the following EXCEPT: Inform the insured if the insurer needs information before renewal or policy change Handle applications and amendment requests as soon as reasonably possible Use professional designations to instill confidence about advising senior clients Inform the applicant if coverage cannot be secured within 30 days of application

Use professional designations to instill confidence about advising senior clients