right answers
What is the max amount a person guilty of an unfair method of competition or an unfair or deceptive act or a prohibited practice may be fined in any 12 month period?
$100,000
An insured has a primary group health plan and an excess plan, each covering losses up to $10,000. The insured suffered a loss of $15,000. Disregarding any copayments or deductibles, how much will the excess plan pay?
$5,000
Which of th following employees insured under a group life plan would be allowed to convert the individual insurance of the same coverage once the plan is terminated
- those who have been insured under the plan for at least 5 years
An insured pays a monthly premium of $100 for her health insurance. What would be the duration of the grace period under her policy?
10 days
Which of the following would NOT be an acceptable interest rate on a policy loan?
10%
A licensed life insurance producer in MO completed 20 hours of continuing education credits in order to renew her license. How many hours of continuing education credit will this producer need to complete in order to renew her license in next term?
12
How long must insurer retain an advertisement for its long term care policies?
3 years
What is the maximum age for qualifying for a catastrophic plan?
30
According to the PPACA rules, percentage of health care costs will be covered under a bronze plan?
60%
What is the benefit of choosing extended term as on nonforfeiture option
? It has the highest amount of insurance protection
An individual has been diagnosed with Alzheimer's disease. He is insured under a life insurance policy with the accelerated benefits rider. Which of the following is true regarding taxation of the accelerated benefits?
A portion of the benefit up to a limit is tax free, the rest is taxable income
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
False advertising
Which type of a hospital policy pays a fixed amount each day that the insured is in a hospital?
Indemnity
A long term care insurance shopper's guide must be provided in the format developed by which of the following?
NAIC
In long term care insurance what type of care is provided with intermediate care? Occasional
Occasional nursing or rehabilitative care
Which of the following terms describes the specified dollar amount beyond which the insured no longer participates in the sharing expenses?
Stop loss limit
Which of the following is an example of a producer being involved in an unfair trade practice of rebating?
Telling a client that his first premium will be waived if the purchases the insurance policy
Which of the following best defines target premium in a universal life policy?
The recommended amount to keep the policy in force throughout its lifetime
Which of the following is NOT true regarding Equity Indexed Annuities?
They earn lower interest rates than fixed annuities
When a group health policy is being replaced with another group health policy, what will happen with the ongoing claimed?
They will covered regardless of preexisting conditions
All of the following information about a customer must be used in determining annuity suitability EXCEPT
beneficiary's age
All of the following statements are correct regarding credit life insurance EXCEPT
benefits are paid to be the borrower's beneficiary
An insurer cannot transact business until obtains a
certificate of authority
To legally transact insurance in this state, an insurer must obtain which of the following?
certificate of authority
A 65 year old enrolls for benefit under Medicare Part B and submits an app for a Medicare supplement policy two later. For which of the following reason may the insurer deny the application?
material misrepresentation
What is the term for how frequently a policyowner is require to pay the policy
mode
which statement regarding social security disability benefits is not true
the individual must be at least 65 years old
All of the following statements concerning the use of the life insurance as an executive bonus are correct EXCEPT
the policy is owned by the company
A producer may accept a commission for a Medicare supplement policy?
If the commission for the first year does not exceed double the commission for the second year
which of the following premium payment modes will incur the lowest overall payment
annual
All of the following are legitimate reasons for a group health insurance policy nonrenewal EXCEPT
any misrepresentation by the plan sponsor on the application for insurance
Which of the following types of insurance policies is most commonly used in credit life insurance ?
decreasing term
What is an important feature of dental expense insurance plan that is NOT typically found in a medical expense insurance plan
plan- diagnostic and preventative care
All of the following are among the directors board powers except
have interest in insurance companies regulated by the department
When the designated beneficiary on a life insurance policy died, the insured needed to designate beneficiary on a life insurance policy died, the insured needed to designate a new beneficiary. Which provision allows for this charge?
assignability
all health insurance policies issued in this state must provide coverage for maternity services. How many hours of inpatient care must be provided to a mother after a C section?
at least 96%
Which of the following authorities may issue a Cease and Desist Order if an insurer is violating the Insurance Code?
director
Stranger originated life insurance policies are in direct opposition to the principle of
insurable interest
Who must pay for the cost of a medical examination required in the process of underwriting?
insurer
During partial withdrawal from a universal life policy, which portion will be taxed
interest
if a business owner becomes totally disabled, a Business Overhead Expense policy will pay all of the following EXCEPT
loss of the owners income
an insured wants to name her husband as the beneficiary of her health policy. She also wishes to retain all of the rights of ownership. The insured should have her husband named as what type of beneficiary?
revocable
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 of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract?
warranty
When can a long term care policy deny a claim for losses incurred because of a pre existing condition?
within 6 months of the effective date of coverage
If an insurer issued a policy based on the application that had an unanswered question, which of the following will be TRUE?
The policy will be interpreted as if the insurer waived its right to have an answer on the application
An insured is upset that her new health insurance policy was delivered to her by certified mail and not through her agent. Which of the following is true?
There is nothing wrong with this form of policy delivery
If a policyholder declines the nonforfeiture benefit what must the insurer provide to the client upon lapse of the policy?
a contingent benefit
Who is a third party owner
a policy owner who is not the insured
Which of the following entities can legally bind coverage?
insurer
Health insurance policies are required to provide coverage for general anesthesia for dental care provided to all the following EXCEPT
senior cirtizens above age 65
Which of the following is true regarding maternity benefits in health policies issued in MO?
They are required in all individual and group policies
which of the following when attached to a permanent life insurance policy allows the policyowner to customize the policy provide an additional amount of temporary insurance on the insured, or allows amounts of temporary insurance to cover other family members
term rider
