MISSISSIPPI INSURANCE TEST COMPLETE QUESTIONS & ANSWERS
(GRADED A).Buy Quality Materials!
In which of the following situations is it illegal for an insurer to disclose
privileged information about an insured?
A researcher for marketing purposes
If an insurance company wishes to order a consumer report on an applicant to
assist the underwriting process, and if a notice of insurance information
practices has been provided, the report man contain all of the following
information EXCPT the applicant's
Ancestry
A producer is acting in what capacity when he or she is trying to obtain credible
information about an applicant for health insurance?
Field underwriting
Which of the following entities can legally bind coverage?
Insurer
An agent is ready to deliver a policy to an applicant but has not yet received
payment. Upon delivery, the agent collects the applicant's premium check,
answers any questions the applicant may have, and then leaves. What did he
forget to do?
Ask her to sign a statement of good health
Which of the below statements is FALSE regarding the process of completing
and signing an application?
Only the insured is required to sign the application.
What phase begins after a new policy is delivered?
Free-look period
Because an insurance policy is a legal contract, it must conform to the state laws
governing contracts which require all of the following elements EXCEPT
Conditions
What is a material misrepresentation?
A statement by the applicant that, upon discovery, would affect the underwriting
decision of the insurance company
Insurance policies, the insured is not legally bound to any particular action in the
insurance contract, but the insurer is legally obligated to pay losses covered by
the policy. What contracted element does the describe?
Unilateral
The Federal Fair Credit Reporting Act
Regulates consumer reports
An insurer neglects to pay a legitimate claim that is covered under the terms of
the policy. Which of the following insurance principles has the insurer violated?
Consideration
Which of the following terms most precisely fits the definition of "the incidence or
probability of sicknesses or accidents within given group of people?"
Morbidity
, An insurance contract that both the insured and the insurer meet certain
conditions in order for the contract to be enforceable. What contract
characteristic does this describe?
Conditional
Where would Long-term care services be rendered?
A nursing home or one's own home
An insurer is attempting to determine the insurability of an applicant and decides
to obtain medical information from several different sources. Which entity must
be notified of the investigation?
The applicant
Before an agent delivers a policy, the insurer makes a last-minute change to the
policy. The agent informs the insured of this change, and he accepts it. In
response, the agent must
Have the insured sign a statement acknowledging that he is aware of the change.
The Medical Information Bureau (MIB) was created to protect
Insurance companies from adverse selection by high risk persons.
Which of the following is NOT required for a producer to tell a prospect?
What requirements the producer needed to meet to obtain the insurance license.
The insurance policy, together with the policy application and any added riders
form what is known as
Entire Contract
A client has a new individual disability income policy with 20-day probationary
period and a 30-day elimination period. Ten days later, client breaks their leg and
is off work for 45 days. How many days of disability benefits will policy pay?
15 days
Group health insurance is characterized by all of the following EXCPT
Adverse selection
How many pairs of glasses in a 12-month period will a vision expense insurance
plan cover?
One
In the event of a divorce, which of the following would allow a divorcee to
continue receiving group health coverage under an insured spouse's plan for an
additional 36 Months?
COBRA
Long-term care insurance policies must cover which of the following?
Alzheimer's disease
Long-term care coverage may be available as any of the following options
EXCEPT
Endorsement to a health policy
Assuming that all of the following people are covered by a High Deductible Health
Plan and are not claimed as dependents on anyone's tax return, which would NOT
be eligible for Health Savings Account?
Amanda is 67 and is covered by a basic medical expense policy
Social Security Supplement (SIS) or Social Security Riders would provide for the
payment of income benefits in each of the situations below EXCEPT
(GRADED A).Buy Quality Materials!
In which of the following situations is it illegal for an insurer to disclose
privileged information about an insured?
A researcher for marketing purposes
If an insurance company wishes to order a consumer report on an applicant to
assist the underwriting process, and if a notice of insurance information
practices has been provided, the report man contain all of the following
information EXCPT the applicant's
Ancestry
A producer is acting in what capacity when he or she is trying to obtain credible
information about an applicant for health insurance?
Field underwriting
Which of the following entities can legally bind coverage?
Insurer
An agent is ready to deliver a policy to an applicant but has not yet received
payment. Upon delivery, the agent collects the applicant's premium check,
answers any questions the applicant may have, and then leaves. What did he
forget to do?
Ask her to sign a statement of good health
Which of the below statements is FALSE regarding the process of completing
and signing an application?
Only the insured is required to sign the application.
What phase begins after a new policy is delivered?
Free-look period
Because an insurance policy is a legal contract, it must conform to the state laws
governing contracts which require all of the following elements EXCEPT
Conditions
What is a material misrepresentation?
A statement by the applicant that, upon discovery, would affect the underwriting
decision of the insurance company
Insurance policies, the insured is not legally bound to any particular action in the
insurance contract, but the insurer is legally obligated to pay losses covered by
the policy. What contracted element does the describe?
Unilateral
The Federal Fair Credit Reporting Act
Regulates consumer reports
An insurer neglects to pay a legitimate claim that is covered under the terms of
the policy. Which of the following insurance principles has the insurer violated?
Consideration
Which of the following terms most precisely fits the definition of "the incidence or
probability of sicknesses or accidents within given group of people?"
Morbidity
, An insurance contract that both the insured and the insurer meet certain
conditions in order for the contract to be enforceable. What contract
characteristic does this describe?
Conditional
Where would Long-term care services be rendered?
A nursing home or one's own home
An insurer is attempting to determine the insurability of an applicant and decides
to obtain medical information from several different sources. Which entity must
be notified of the investigation?
The applicant
Before an agent delivers a policy, the insurer makes a last-minute change to the
policy. The agent informs the insured of this change, and he accepts it. In
response, the agent must
Have the insured sign a statement acknowledging that he is aware of the change.
The Medical Information Bureau (MIB) was created to protect
Insurance companies from adverse selection by high risk persons.
Which of the following is NOT required for a producer to tell a prospect?
What requirements the producer needed to meet to obtain the insurance license.
The insurance policy, together with the policy application and any added riders
form what is known as
Entire Contract
A client has a new individual disability income policy with 20-day probationary
period and a 30-day elimination period. Ten days later, client breaks their leg and
is off work for 45 days. How many days of disability benefits will policy pay?
15 days
Group health insurance is characterized by all of the following EXCPT
Adverse selection
How many pairs of glasses in a 12-month period will a vision expense insurance
plan cover?
One
In the event of a divorce, which of the following would allow a divorcee to
continue receiving group health coverage under an insured spouse's plan for an
additional 36 Months?
COBRA
Long-term care insurance policies must cover which of the following?
Alzheimer's disease
Long-term care coverage may be available as any of the following options
EXCEPT
Endorsement to a health policy
Assuming that all of the following people are covered by a High Deductible Health
Plan and are not claimed as dependents on anyone's tax return, which would NOT
be eligible for Health Savings Account?
Amanda is 67 and is covered by a basic medical expense policy
Social Security Supplement (SIS) or Social Security Riders would provide for the
payment of income benefits in each of the situations below EXCEPT
