Under the subrogation clause, legal action can be taken by the insurer against the
a. responsible third party
b. beneficiary
c. policyowner
d. state
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a. responsible third party
,Which of the following is an example of the illegal act of defamation?
a. Offering a premium rebate, gift, or a special advantage of any kind to consumers as
an inducement to purchase a contract of insurance
b. Making a statement that is false of maliciously critical of the financial condition of
an insurer
c. Replacing an insurance policy from one insurer to another based on
misrepresentation
d. Using threat or force to restrict fair trade in the transaction of insurance
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b. Making a statement that is false of maliciously critical of the financial
condition of an insurer
Under a Modified Endowment Contract, what are the likely ta consequences?
a. Interest on policy loans is tax deductible
b. Premiums payments are tax deductible
c. Pre-death distributions will become taxable
d. Cash value cannot be surrendered early
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c. Pre-death distributions will become taxable
Which of the following is NOT included under a health benefit plan?
a. Major medical policy
b. Basic hospital policy
c. Hospital indemnity plan
d. Surgical expense policy
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, c. Hospital indemnity plan
A Medicare Supplement Policy is
a. government insurance designed to provide healthcare to the elderly
b. designed to provide prescription drug coverage to the elderly
c. designed to fill in the gaps of Part A and Part B Medicare
d. a supplement to Medicare Advantage Part C
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c. designed to fill in the gaps of Part A and Part B Medicare
A producer may give an insurance applicant an article of merchandise having an
invoice value of ______ or less.
a. $5
b. $15
c. $25
d. $50
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a. $5
What kind of life insurance policy covers two or more people with the death benefit
payable upon the last person's death?
a. Dual Life insurance
b. Joint Life insurance
c. Last Survivor Life insurance
d. Shared Life insurance
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c. Last Survivor Life insurance
The open enrollment period for Medicare Supplements begins at age
a. 62
b. 65
c. 67
d. 70
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b. 65
A life insurance policy sold in Michigan may be contested by the insurer ONLY during
the first _____ year(s) of the contract.
a. one
b. two
c. three
d. four
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b. two
Which requirement must be met by associations that seek group health coverage for
its members?
a. Must have a board of directors
b. Members must be individually underwritten
a. responsible third party
b. beneficiary
c. policyowner
d. state
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a. responsible third party
,Which of the following is an example of the illegal act of defamation?
a. Offering a premium rebate, gift, or a special advantage of any kind to consumers as
an inducement to purchase a contract of insurance
b. Making a statement that is false of maliciously critical of the financial condition of
an insurer
c. Replacing an insurance policy from one insurer to another based on
misrepresentation
d. Using threat or force to restrict fair trade in the transaction of insurance
Give this one a try later!
b. Making a statement that is false of maliciously critical of the financial
condition of an insurer
Under a Modified Endowment Contract, what are the likely ta consequences?
a. Interest on policy loans is tax deductible
b. Premiums payments are tax deductible
c. Pre-death distributions will become taxable
d. Cash value cannot be surrendered early
Give this one a try later!
c. Pre-death distributions will become taxable
Which of the following is NOT included under a health benefit plan?
a. Major medical policy
b. Basic hospital policy
c. Hospital indemnity plan
d. Surgical expense policy
Give this one a try later!
, c. Hospital indemnity plan
A Medicare Supplement Policy is
a. government insurance designed to provide healthcare to the elderly
b. designed to provide prescription drug coverage to the elderly
c. designed to fill in the gaps of Part A and Part B Medicare
d. a supplement to Medicare Advantage Part C
Give this one a try later!
c. designed to fill in the gaps of Part A and Part B Medicare
A producer may give an insurance applicant an article of merchandise having an
invoice value of ______ or less.
a. $5
b. $15
c. $25
d. $50
Give this one a try later!
a. $5
What kind of life insurance policy covers two or more people with the death benefit
payable upon the last person's death?
a. Dual Life insurance
b. Joint Life insurance
c. Last Survivor Life insurance
d. Shared Life insurance
, Give this one a try later!
c. Last Survivor Life insurance
The open enrollment period for Medicare Supplements begins at age
a. 62
b. 65
c. 67
d. 70
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b. 65
A life insurance policy sold in Michigan may be contested by the insurer ONLY during
the first _____ year(s) of the contract.
a. one
b. two
c. three
d. four
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b. two
Which requirement must be met by associations that seek group health coverage for
its members?
a. Must have a board of directors
b. Members must be individually underwritten
