Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies?
A.) waiver of premium
B.) juvenile waiver
C.) Guaranteed insurability
D.) payor benefit
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, D.) payor benefit
Coordination of Benefits regulation applies to all of the following plans EXCEPT
A.) Group vision plan
B.) Preferred Provider Organization plan
C.) Self-funded group health plan
D.) Group health plan
Give this one a try later!
B.) Preferred Provider Organization plan
A life insurance applicant in Michigan may backdate the application for up to _____
month(s).
A.) 4
B.) 5
C.) 6
D.) 7
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C.) 6
Which type of life insurance policy pays the face amount at the end of the specified
period if the insured is still alive?
A.) Adjustable life policy
B.) Modified life policy
C.) Endowment policy
D.) Universal life policy
,Give this one a try later!
C.) Endowment policy
Which situation accurately describes a reduced paid-up nonforfeiture option?
A.) Policy has a decreased face amount
B.) Face amount of the new policy equals that of the original policy
C.) Cash value is surrendered to policy owner
D.) Premiums must continue to be paid
Give this one a try later!
A.) Policy has a decrease face amount
Which type of clause describes the following statement: "We have issued the policy in
consideration of the representations in your applications and payment of the first-
term premium".
A.) Premium Cluase
B.) Consideration Clause
C.) Adhesion Clause
D.) Contestability Clause
Give this one a try later!
B.) Consideration Clause
In a Long-term Care policy, activities of daily living (ADL's) can be each of the
following EXCEPT
A.) Talking
, B.) Dressing
C.) Transferring
D.) Feeding oneself
Give this one a try later!
A.) Talking
Which of the following statements regarding Group Disability Income insurance is
TRUE?
A.) It pays 100% or more of an insured's income in the event of disability
B.) It provides benefits for non-occupational illnesses and injuries
C.) It is generally more expensive than individual policies
D.) It usually pays for occupation-related disabilities
Give this one a try later!
B.) It provides benefits for non-occupational illnesses and injuries
Which of the following actions is REQUIRED by a producer who is replacing an
existing life insurance policy?
A.) Keep replacement records on file for at least 10 years
B.) Notify the existing insurer of the proposed replacement
C.) Submit to the replacing insurer a list of policies to be replaced
D.) Offer the insured a 60-day free-look period
Give this one a try later!
C.) Submit to the replacing insurer a list of policies to be replaced
parent paying the premium dies?
A.) waiver of premium
B.) juvenile waiver
C.) Guaranteed insurability
D.) payor benefit
Give this one a try later!
, D.) payor benefit
Coordination of Benefits regulation applies to all of the following plans EXCEPT
A.) Group vision plan
B.) Preferred Provider Organization plan
C.) Self-funded group health plan
D.) Group health plan
Give this one a try later!
B.) Preferred Provider Organization plan
A life insurance applicant in Michigan may backdate the application for up to _____
month(s).
A.) 4
B.) 5
C.) 6
D.) 7
Give this one a try later!
C.) 6
Which type of life insurance policy pays the face amount at the end of the specified
period if the insured is still alive?
A.) Adjustable life policy
B.) Modified life policy
C.) Endowment policy
D.) Universal life policy
,Give this one a try later!
C.) Endowment policy
Which situation accurately describes a reduced paid-up nonforfeiture option?
A.) Policy has a decreased face amount
B.) Face amount of the new policy equals that of the original policy
C.) Cash value is surrendered to policy owner
D.) Premiums must continue to be paid
Give this one a try later!
A.) Policy has a decrease face amount
Which type of clause describes the following statement: "We have issued the policy in
consideration of the representations in your applications and payment of the first-
term premium".
A.) Premium Cluase
B.) Consideration Clause
C.) Adhesion Clause
D.) Contestability Clause
Give this one a try later!
B.) Consideration Clause
In a Long-term Care policy, activities of daily living (ADL's) can be each of the
following EXCEPT
A.) Talking
, B.) Dressing
C.) Transferring
D.) Feeding oneself
Give this one a try later!
A.) Talking
Which of the following statements regarding Group Disability Income insurance is
TRUE?
A.) It pays 100% or more of an insured's income in the event of disability
B.) It provides benefits for non-occupational illnesses and injuries
C.) It is generally more expensive than individual policies
D.) It usually pays for occupation-related disabilities
Give this one a try later!
B.) It provides benefits for non-occupational illnesses and injuries
Which of the following actions is REQUIRED by a producer who is replacing an
existing life insurance policy?
A.) Keep replacement records on file for at least 10 years
B.) Notify the existing insurer of the proposed replacement
C.) Submit to the replacing insurer a list of policies to be replaced
D.) Offer the insured a 60-day free-look period
Give this one a try later!
C.) Submit to the replacing insurer a list of policies to be replaced
