Mississippi Life and Health Final Exam Actual Questions
and Answers 2023 Complete
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit
Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union
employee
A producer must report to the Commissioner of Insurance any administrative action or
criminal charges taken against the producer within __ days of the final disposition of the
matter.
10
15
20
30
30
The return of all or part of the commission to the insured by an insurance producer as
an inducement to purchase the insurance is known as
twisting
redlining
rebating
misrepresentation
rebating
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years
two years
Which of the following phrases refers to the fees charged by a healthcare professional?
Deductible
Coinsurance
,Usual, customary, and reasonable expenses
Hospital expense
Usual, customary, and reasonable expenses
The situation in which a group of physicians are salaried employees and conduct
business in an HMO facility is called a(n)
closed panel
open panel
co-op panel
capitation panel
closed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident
off-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a commercial
flight, what will the policy pay B's beneficiary?
$100,000
$200,000
$300,000
$400,000
$300,000
An insurance company that replaces existing insurance must provide a copy of which of
the following documents to the existing insurance company?
The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity
a policy summary
An insurance company formed under the laws of Canada would be known in Mississippi
as
a domestic company
an alien company
a foreign company
a mutual company
an alien company
What kind of life insurance beneficiary requires his/her consent when a change of
beneficiary is made?
, Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary
irrevocable beneficiary
K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true?
-Proceeds will be paid to P's estate
-Proceeds will be divided equally between K's and P's estate
-Proceeds will be payable to K's estate if P dies within a specified time
-The courts will decide who will receive death benefits
Proceeds will be payable to K's estate if P dies within a specified time
Unfair discrimination is described as
failing to choose a specific policy type
charging different rates for persons in the same class
writing different policies for different individuals
writing policies for only one company
charging different rates for persons in the same class
An agent takes an individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to
-issue the policy only when the initial premium check has cleared
-determine if the applicant is insurable by investigating family health history
-issue the policy on a standard basis
-determine if the applicant is an acceptable risk by completing standard underwriting
procedures
determine if the applicant is an acceptable risk by completing standard underwriting
procedures
Which premium schedule results in the lowest cost to the policy owner?
Semi-annual
Monthly
Quarterly
Annual
annual
The most important factor to consider when determining whether to convert term
insurance at the insured's attained age or the insured's original age is
the cost
the health of the insured
the amount of coverage being converted
who will be beneficiary
and Answers 2023 Complete
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit
Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union
employee
A producer must report to the Commissioner of Insurance any administrative action or
criminal charges taken against the producer within __ days of the final disposition of the
matter.
10
15
20
30
30
The return of all or part of the commission to the insured by an insurance producer as
an inducement to purchase the insurance is known as
twisting
redlining
rebating
misrepresentation
rebating
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years
two years
Which of the following phrases refers to the fees charged by a healthcare professional?
Deductible
Coinsurance
,Usual, customary, and reasonable expenses
Hospital expense
Usual, customary, and reasonable expenses
The situation in which a group of physicians are salaried employees and conduct
business in an HMO facility is called a(n)
closed panel
open panel
co-op panel
capitation panel
closed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident
off-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a commercial
flight, what will the policy pay B's beneficiary?
$100,000
$200,000
$300,000
$400,000
$300,000
An insurance company that replaces existing insurance must provide a copy of which of
the following documents to the existing insurance company?
The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity
a policy summary
An insurance company formed under the laws of Canada would be known in Mississippi
as
a domestic company
an alien company
a foreign company
a mutual company
an alien company
What kind of life insurance beneficiary requires his/her consent when a change of
beneficiary is made?
, Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary
irrevocable beneficiary
K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true?
-Proceeds will be paid to P's estate
-Proceeds will be divided equally between K's and P's estate
-Proceeds will be payable to K's estate if P dies within a specified time
-The courts will decide who will receive death benefits
Proceeds will be payable to K's estate if P dies within a specified time
Unfair discrimination is described as
failing to choose a specific policy type
charging different rates for persons in the same class
writing different policies for different individuals
writing policies for only one company
charging different rates for persons in the same class
An agent takes an individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to
-issue the policy only when the initial premium check has cleared
-determine if the applicant is insurable by investigating family health history
-issue the policy on a standard basis
-determine if the applicant is an acceptable risk by completing standard underwriting
procedures
determine if the applicant is an acceptable risk by completing standard underwriting
procedures
Which premium schedule results in the lowest cost to the policy owner?
Semi-annual
Monthly
Quarterly
Annual
annual
The most important factor to consider when determining whether to convert term
insurance at the insured's attained age or the insured's original age is
the cost
the health of the insured
the amount of coverage being converted
who will be beneficiary
