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MICHIGAN LIFE AND HEALTH FINAL ACTUAL EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST 2025
ALREADY GRADED A+
A health insurance policy that allows an insurer to change the policy owners
premiums, but not cancel the policy is called - (answers)Guaranteed renewable
policy
Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - (answers)Hospital
indemnity
A life insurance policy that contains a guaranteed interest rate with the chance to
earn a rate that is higher than the guaranteed rate is called - (answers)Universal
Life
Susan is insured through her Group Health Insurance plan and changed her
coverage to an individual plan with the same insurer after her employment was
terminated. This change is called a(n)
crossover
conversion
exchange
extension of benefits - (answers)conversion
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Major medical insurance will typically cover medical expenses that result from -
(answers)a negative reaction to prescribed medication
A Medicare supplement basic benefit is - (answers)the first 3 pints of blood per
year
All of the following are considered to be non-forfeiture options available to a
policy owner except - (answers)Reduction of premium
Chris is an insured bricklayer who severed his left hand in an automobile accident.
Although his primary duty cannot be performed, Chris is also a substitute high
school teacher. He collects a full disability income check every month. How does
his policy define total disability? - (answers)Own occupation
The acceptance of a credit life application requires the submission of a certificate
of insurance to the insured within ___ days. - (answers)30
Which of the following is not considered advertising? - (answers)A rating from a
rating service company, such as A.M. Best
If an insured dies during the grace period with no premiums paid? - (answers)the
policy would be payable, minus the premium amount
Which of these is considered a living benefit option in a life insurance policy? -
(answers)Accelerated death benefit
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Reggie purchased a life insurance policy with the face amount of $500,000. After
15 years the cash value was accumulated to $100,000 and the policies face
amount has become $600,000 which type of life insurance policy is this? -
(answers)Universal life
An insured under a major medical expense plan with a zero deductible and 80/20
coinsurance prevention files a $1000 claim. How much of this claim is the insured
responsible for? - (answers)$200
All of the following are included as part of a contract and the entire contract
except the - (answers)Changes made by the producer
To be eligible for Small employer group coverage, and employer must work a
minimum of ___ hours in a typical week - (answers)17.5
In the Michigan insurance code, chapter 45, insurance fraud defines financial loss
as all of the following except - (answers)Additional premiums
Which of the following provides Medicare supplement policies? - (answers)private
insurance companies
A life insurance policy owner does not have the right to - (answers)revoke an
absolute assignment
MICHIGAN LIFE AND HEALTH FINAL ACTUAL EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST 2025
ALREADY GRADED A+
A health insurance policy that allows an insurer to change the policy owners
premiums, but not cancel the policy is called - (answers)Guaranteed renewable
policy
Which type of coverage pays an amount per day for hospitalization directly to the
insured regardless of the insured's other health insurance? - (answers)Hospital
indemnity
A life insurance policy that contains a guaranteed interest rate with the chance to
earn a rate that is higher than the guaranteed rate is called - (answers)Universal
Life
Susan is insured through her Group Health Insurance plan and changed her
coverage to an individual plan with the same insurer after her employment was
terminated. This change is called a(n)
crossover
conversion
exchange
extension of benefits - (answers)conversion
,2|Page
Major medical insurance will typically cover medical expenses that result from -
(answers)a negative reaction to prescribed medication
A Medicare supplement basic benefit is - (answers)the first 3 pints of blood per
year
All of the following are considered to be non-forfeiture options available to a
policy owner except - (answers)Reduction of premium
Chris is an insured bricklayer who severed his left hand in an automobile accident.
Although his primary duty cannot be performed, Chris is also a substitute high
school teacher. He collects a full disability income check every month. How does
his policy define total disability? - (answers)Own occupation
The acceptance of a credit life application requires the submission of a certificate
of insurance to the insured within ___ days. - (answers)30
Which of the following is not considered advertising? - (answers)A rating from a
rating service company, such as A.M. Best
If an insured dies during the grace period with no premiums paid? - (answers)the
policy would be payable, minus the premium amount
Which of these is considered a living benefit option in a life insurance policy? -
(answers)Accelerated death benefit
, 3|Page
Reggie purchased a life insurance policy with the face amount of $500,000. After
15 years the cash value was accumulated to $100,000 and the policies face
amount has become $600,000 which type of life insurance policy is this? -
(answers)Universal life
An insured under a major medical expense plan with a zero deductible and 80/20
coinsurance prevention files a $1000 claim. How much of this claim is the insured
responsible for? - (answers)$200
All of the following are included as part of a contract and the entire contract
except the - (answers)Changes made by the producer
To be eligible for Small employer group coverage, and employer must work a
minimum of ___ hours in a typical week - (answers)17.5
In the Michigan insurance code, chapter 45, insurance fraud defines financial loss
as all of the following except - (answers)Additional premiums
Which of the following provides Medicare supplement policies? - (answers)private
insurance companies
A life insurance policy owner does not have the right to - (answers)revoke an
absolute assignment
