Life, Accident, and Health Producer Exam
notes, Updated 2024/2025.
Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has a(n)
Occupational disease
An immediate annuity has been purchased with a single premium. When does the annuitant typically
begin receiving benefit payments?
1 month
Under which circumstance may a deferred insurance commission be paid to an individual?
Individual was a licensed producer at the time of the sale
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group
Health Plan will verify Creditable Coverage so that the
Employee's waiting period for coverage of a preexisting condition can be reduced under the new
employer's health plan
Which type of multiple protection policy pays on the death of the last person?
Supervisorship life policy
The period in which there are no Social Security benefits for the surviving spouse is called the
Blackout period
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss.
20
In a Long-Term Care policy, activities of daily living (ADL'S) can be each of the following EXCEPT
Talking
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money
withdrawn.
income
The act of _____ insurance does NOT require an individual to hold an insurance producer license
underwriting
A(n) _____ company is owned exclusively by shareholders
stock
, Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits
must
Be the same and the premium cannot exceed 102%
Field underwriting performed by the producer involves
Completing the application and collecting initial premium
If an insured dies during the grace period with no premiums paid
The policy would be payable, minus the premium amount
All of the following are qualifications for establishing a health savings account (HSA) EXCEPT
Enrolled in a health plan with a prescription drug benefit
A life insurance applicant in Michigan may backdate the application for up to ____ month(s)
6
How do interest earnings accumulate in a deferred annuity?
On a tax-free basis
If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the
insured dies?
A prorated death benefit based on the amount of insurance the insured's premiums would have been if
purchased at the correct age
Which of these will have the highest monthly payout upon annuitization?
Straight life
If an insured's unmarried child is incapable of self support because of a mental handicap, how long must
this child be provided health coverage under the parent's policy?
Until policy termination with proof of incapacity
Which of the following is NOT part of an insurance contract?
Certificate of Authority
What kind of life insurance policy covers two or more people with the death benefit payable upon the
last person's death?
Last Survivor Life Insurance
Amy has a group medical policy through her employer with a $500 deductible and a 90% coinsurance
provision. She incurs $1,500 in covered health care services. How much will her group insurance carrier
pay?
$900
notes, Updated 2024/2025.
Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has a(n)
Occupational disease
An immediate annuity has been purchased with a single premium. When does the annuitant typically
begin receiving benefit payments?
1 month
Under which circumstance may a deferred insurance commission be paid to an individual?
Individual was a licensed producer at the time of the sale
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group
Health Plan will verify Creditable Coverage so that the
Employee's waiting period for coverage of a preexisting condition can be reduced under the new
employer's health plan
Which type of multiple protection policy pays on the death of the last person?
Supervisorship life policy
The period in which there are no Social Security benefits for the surviving spouse is called the
Blackout period
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss.
20
In a Long-Term Care policy, activities of daily living (ADL'S) can be each of the following EXCEPT
Talking
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money
withdrawn.
income
The act of _____ insurance does NOT require an individual to hold an insurance producer license
underwriting
A(n) _____ company is owned exclusively by shareholders
stock
, Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits
must
Be the same and the premium cannot exceed 102%
Field underwriting performed by the producer involves
Completing the application and collecting initial premium
If an insured dies during the grace period with no premiums paid
The policy would be payable, minus the premium amount
All of the following are qualifications for establishing a health savings account (HSA) EXCEPT
Enrolled in a health plan with a prescription drug benefit
A life insurance applicant in Michigan may backdate the application for up to ____ month(s)
6
How do interest earnings accumulate in a deferred annuity?
On a tax-free basis
If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the
insured dies?
A prorated death benefit based on the amount of insurance the insured's premiums would have been if
purchased at the correct age
Which of these will have the highest monthly payout upon annuitization?
Straight life
If an insured's unmarried child is incapable of self support because of a mental handicap, how long must
this child be provided health coverage under the parent's policy?
Until policy termination with proof of incapacity
Which of the following is NOT part of an insurance contract?
Certificate of Authority
What kind of life insurance policy covers two or more people with the death benefit payable upon the
last person's death?
Last Survivor Life Insurance
Amy has a group medical policy through her employer with a $500 deductible and a 90% coinsurance
provision. She incurs $1,500 in covered health care services. How much will her group insurance carrier
pay?
$900
