Bleh

How long is the free look period on a Medicare supplement policy?

10 days

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

100%

How long must an insurer retain an advertisement for its long-term care policies?

3 years

All individual health policies issued in the state of Missouri which provide coverage for hospital treatment must also provide coverage for treatment of alcoholism, which may be limited to how many days?

30

An individual long-term care policy must be delivered to the applicant within how many days after its approval?

30 days

A long-term care shopper's guide must be presented at what point?

Prior to the time of application

If a health carrier providing prescription drug coverage makes any deletions in its health benefit plan's prescription drug formulary, within how many days of the deletion must it notify the affected enrollees?

30 days

A child with phenylketonuria (PKU) will have its physician-recommended foods covered by a health insurance policy, provided the child is under what maximum age?

6 years old

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

A mammogram every year for women age 50 and over

What is required of an insurer should an insured commit suicide prior to one year elapsing under a life insurance policy?

All premiums must be returned

In which of the following locations would skilled care most likely be provided?

An institutional setting

All other factors being equal, the least expensive first-year premium payment is found in

Annually Renewable Term

How is the Director selected for the office?

Appointed by the Governor

When the designated beneficiary on a life insurance policy died, the insured needed to designate a new beneficiary. Which provision allows for this change?

Assignability

What must an insurance company that is organized in, and has its home office in Missouri, do in order to legally transact insurance in the state?

Receive a Certificate of Authority from the Director

An insured pays an annual premium to his insurer. In return, the insurer promises to pay benefits in accordance with the terms of the contract. This is called

Conditions

The act of trying to discourage a policyholder from dropping his/her existing policy is called

Conservation effort

An applicant for a individual health policy failed to complete the application properly. Before being able to complete the application and a pay the initial premium, she is confined to a hospital. This will not be covered by insurance because she has not met the conditions specified in the

Consideration clause

Contracts that are prepared by one party and submitted to the other party on a take-it-or-leave-it basis are classified as

Contract of adhesion

What happens when a policy is surrendered for its cash value?

Coverage ends and the policy cannot be reinstated

Which of the following is NOT allowed in credit life insurance?

Creditor requiring that a debtor buys insurance from a certain insurer

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

Replacement rule

Which of the following authorities is required to conduct a financial examination of the state's insurers?

Director

Which policy component decreases in decreasing term insurance?

Face amount

A person who receives or collects money to be forwarded to the principal is said to have what kind of responsibility?

Fiduciary

Which of the following would be considered false advertising?

Implying that the agent is the insurer

Medicaid provides all of the following benefits EXCEPT

Income assistance for work-related injury

A Return of Premium term life policy is written as what type of term coverage?

Increasing

In the event of loss, after a notice of claim is submitted to the insurer, who is responsible for providing claims forms and to which party?

Insurer to the insured

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

Insurer's executive officer

Which provision of a life insurance policy states the insurer's duty to pay benefits upon the death of the insured, and to whom the benefits will be paid?

Insuring clause

When Y applies for insurance and paid the initial premium on August 14, he was issued a conditional receipt. During the underwriting process, the insurance company found no reason to reject the risk or classify it other than as standard. Y was killed in an automobile accident on August 22, before the policy was issued. In this case, the insurance company will

Issue the policy anyway and pay the face value to the beneficiary

Which of the following is NOT true regarding a Certificate of Authority?

It is issued to group insurance participants.

A group health policy providing coverage on an expense-incurred basis will also offer coverage for the necessary care and treatment of what?

Loss or impairment of speech or hearing

A 65 year old enrolls for benefits under Medicare Part B and submits an application for a Medicare supplement policy two months later. For which of the following reason may the insurer deny the application?

Material misrepresentation

Medicare Advantage is also known as

Medicare Part C

What is the name of a clause that is included in a policy that limits or eliminates the death benefit if the insured dies as a result of war or while serving in the military?

Military service or war

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

NAIC

The interest earned on a policy dividends is

Nontaxable

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

Notify the requesting enrollee of the carrier's determination

During replacement of life insurance, a replacing insurer must do which of the following?

Obtain a list of all life insurance policies that will be replaced

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

Payment of premium

Underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reasons EXCEPT

Premiums always stay the same

In which of the following instanced would the premium be tax deductible?

Premiums paid by an employer on a $30,000 group term life insurance plan for employees

An individual has been contributing to a retirement account after taxes are taken out of his paycheck. His financial advisor told him that he will be allowed to make contributions after age 70½. The account owner does not have to pay taxes on the growth of his account. What type of retirement account is it?

Roth IRA

Which of the following determines the length of time that benefits will be received under the Fixed-Amount settlement option?

Size of each installment

An insured has endured multiple surgeries and hospitalizations for an illness during the summer months. Her insurer no longer bills her for medical expenses. What term best describes the condition she has met?

Stop-loss limit

Which of the following riders is often used in business life insurance policies when the policyowner needs to change the insured under the policy?

Substitute insured rider

An employee becomes insured under a PPO plan provided by his employer. If the insured decides to go to a physician who is not a PPO provider, which of the following will happen?

The PPO will pay reduced benefits.

An individual wants to purchase a life insurance policy. His agent asks if the transaction will involve replacing any existing life insurance policies. If the customer replies, "Yes," which of the following best describes the agent's next step?

The agent must provide a replacement notice to the applicant

The initial amount of credit life insurance may NOT exceed

The amount to be repaid under the contract

Which of the following is NOT true regarding the annuitant?

The annuitant cannot be the same person as the annuity owner

Which of the following determines the cash value of a variable life policy?

The performance of the policy portfolio

What must contain a notice of the graded death benefit in a life insurance policy with graded death benefits?

The policy application

Missouri law requires that the records of insurance transactions kept by producers must be orderly. What does that mean?

The records must be retrievable within 5 days upon request.

Which of the following is true regarding optional benefits with long-term care policies?

They are available for additional premium

Which of the following insurance arrangements will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner?

Third-party ownership

What is the purpose of the insurability provision in group life policies issued in this state?

To allow the insurer to require proof of insurability from individual insured

According to the rights of renewability rider for cancellable policies, all of the following are correct about the cancellation of an individual insurance policy EXCEPT

Unearned premiums are retained by the insurance company

Which type of life insurance policy allows the policyowner to pay more or less than the planned premium?

Universal life