Page 1 of 41
MISSISSIPPI LIFE AND HEALTH INSURANCE
FINAL EXAM (2026 UPDATE) | FREQUENTLY
TESTED QUESTIONS WITH CORRECT
ANSWERS | BRAND NEW!
How does coordination of benefits provisions work when a kid is
involved? - ✔✔✔ Correct Answer > When birthday comes first will be
primary or witch ever has the best coverage
Employer assumer’s full responsibility for covering all cost.
Conditions for self-funding would include when costs can be
predicted and when employer (company) has financial strength
to cover higher than expected costs. - ✔✔✔ Correct Answer > Fully
Self-Funded Plans (self-administered)
Provides workers with right to continue health coverage for
limited time after they lose their jobs. Maximum period of
coverage: If person is laid off from job, may continue coverage for
18 months, under certain events (surviving spouse) coverage
may continue for 36 months. COBRA allows employer to charge
those who elect to continue coverage, 102% of premiums
employer pays for each employee. - ✔✔✔ Correct Answer > CCC-
COBRA
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When does a change of occupation become a problem? - ✔✔✔
Correct Answer > Drastic changes only
Insurer may not cancel, change policy benefits or increases
premium. - ✔✔✔ Correct Answer > noncancelable
Insurer may not cancel or change policy benefits but may
increases premium by class. - ✔✔✔ Correct Answer > Guaranteed
Renewal
Part A (basic Hospital insurance) -all persons age 65+ entitled to
social security (railroad benefits) are enrolled. You pay no
premium. Non-eligible pay premiums. - ✔✔✔ Correct Answer >
Medicare
What does part A cover? - ✔✔✔ Correct Answer > in hospital services,
Covers drugs only while in hospital, No coverage on first 3 pints
of blood, Skilled nursing care, Home health services, hospice
care, Psychiatric hospital care
What does Medicare part B consist of - ✔✔✔ Correct Answer > you pay
monthly premiums and deductible, doctors fees,
,Page 3 of 41
Who pays for part B - ✔✔✔ Correct Answer > enrollee and federal
government
What does part B not cover - ✔✔✔ Correct Answer > first 3 pints of
blood, eye and hearing exam, routine physical exams, foot care,
immunization, private nurses.
What does part A cover - ✔✔✔ Correct Answer > hospital expenses
What does part B cover - ✔✔✔ Correct Answer > Doctors and others
Expense
What does part C cover - ✔✔✔ Correct Answer > Medicare advantage
plan
What does part D cover - ✔✔✔ Correct Answer > Prescription Drug
plan
Anyone who works for salary or wages and most self-employed
persons are covered. To receive benefit- person must be fully
insured- fully insured means 40 quarter (10 years) of covered
employment. - ✔✔✔ Correct Answer > Social security disability
benefits
, Page 4 of 41
What does the underwriting criteria - ✔✔✔ Correct Answer > age, sex,
health, physical build, occupation, personally habits, and financial
status
Coverage becomes effective as of the date of receipt IF applicant
is approved for plan applied for, the amount of coverage applied
for and premium rate applied for. Receipts is generally given
when application pays initial premium. - ✔✔✔ Correct Answer >
Conditional Receipt
Employer paying premium of key employees and employer
receives benefit -premiums not deductible - benefits tax-free. If
employee receives benefits -premiums are deductible to
employer and benefits taxable to employee. - ✔✔✔ Correct Answer >
Disability income policies
What are the 5 different ways of handling risk - ✔✔✔ Correct Answer >
avoidance, Retention, transfer, sharing, and reduction
An insurer is able to assume many risks with the reasonable
assurance of experiencing a certain number of losses according
to the - ✔✔✔ Correct Answer > law of large numbers
Is the tendency of person whose exposure to loss is higher than
average to purchase or continue insurance to a greater extent
MISSISSIPPI LIFE AND HEALTH INSURANCE
FINAL EXAM (2026 UPDATE) | FREQUENTLY
TESTED QUESTIONS WITH CORRECT
ANSWERS | BRAND NEW!
How does coordination of benefits provisions work when a kid is
involved? - ✔✔✔ Correct Answer > When birthday comes first will be
primary or witch ever has the best coverage
Employer assumer’s full responsibility for covering all cost.
Conditions for self-funding would include when costs can be
predicted and when employer (company) has financial strength
to cover higher than expected costs. - ✔✔✔ Correct Answer > Fully
Self-Funded Plans (self-administered)
Provides workers with right to continue health coverage for
limited time after they lose their jobs. Maximum period of
coverage: If person is laid off from job, may continue coverage for
18 months, under certain events (surviving spouse) coverage
may continue for 36 months. COBRA allows employer to charge
those who elect to continue coverage, 102% of premiums
employer pays for each employee. - ✔✔✔ Correct Answer > CCC-
COBRA
,Page 2 of 41
When does a change of occupation become a problem? - ✔✔✔
Correct Answer > Drastic changes only
Insurer may not cancel, change policy benefits or increases
premium. - ✔✔✔ Correct Answer > noncancelable
Insurer may not cancel or change policy benefits but may
increases premium by class. - ✔✔✔ Correct Answer > Guaranteed
Renewal
Part A (basic Hospital insurance) -all persons age 65+ entitled to
social security (railroad benefits) are enrolled. You pay no
premium. Non-eligible pay premiums. - ✔✔✔ Correct Answer >
Medicare
What does part A cover? - ✔✔✔ Correct Answer > in hospital services,
Covers drugs only while in hospital, No coverage on first 3 pints
of blood, Skilled nursing care, Home health services, hospice
care, Psychiatric hospital care
What does Medicare part B consist of - ✔✔✔ Correct Answer > you pay
monthly premiums and deductible, doctors fees,
,Page 3 of 41
Who pays for part B - ✔✔✔ Correct Answer > enrollee and federal
government
What does part B not cover - ✔✔✔ Correct Answer > first 3 pints of
blood, eye and hearing exam, routine physical exams, foot care,
immunization, private nurses.
What does part A cover - ✔✔✔ Correct Answer > hospital expenses
What does part B cover - ✔✔✔ Correct Answer > Doctors and others
Expense
What does part C cover - ✔✔✔ Correct Answer > Medicare advantage
plan
What does part D cover - ✔✔✔ Correct Answer > Prescription Drug
plan
Anyone who works for salary or wages and most self-employed
persons are covered. To receive benefit- person must be fully
insured- fully insured means 40 quarter (10 years) of covered
employment. - ✔✔✔ Correct Answer > Social security disability
benefits
, Page 4 of 41
What does the underwriting criteria - ✔✔✔ Correct Answer > age, sex,
health, physical build, occupation, personally habits, and financial
status
Coverage becomes effective as of the date of receipt IF applicant
is approved for plan applied for, the amount of coverage applied
for and premium rate applied for. Receipts is generally given
when application pays initial premium. - ✔✔✔ Correct Answer >
Conditional Receipt
Employer paying premium of key employees and employer
receives benefit -premiums not deductible - benefits tax-free. If
employee receives benefits -premiums are deductible to
employer and benefits taxable to employee. - ✔✔✔ Correct Answer >
Disability income policies
What are the 5 different ways of handling risk - ✔✔✔ Correct Answer >
avoidance, Retention, transfer, sharing, and reduction
An insurer is able to assume many risks with the reasonable
assurance of experiencing a certain number of losses according
to the - ✔✔✔ Correct Answer > law of large numbers
Is the tendency of person whose exposure to loss is higher than
average to purchase or continue insurance to a greater extent
