Mississippi Life and Health
REAL Exam Questions &
Answers
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit - Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union employee
A producer must report to the Commissioner of Insurance any administrative action or
criminal charges taken against the producer within __ days of the final disposition of the
matter.
10
15
20
30 -
The return of all or part of the commission to the insured by an insurance producer as
an inducement to purchase the insurance is known as
twisting
redlining
rebating
misrepresentation -
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years
Which of the following phrases refers to the fees charged by a healthcare professional?
,Deductible
Coinsurance
Usual, customary, and reasonable expenses
Hospital expense - ANSWERSUsual, customary, and reasonable expenses
The situation in which a group of physicians are salaried employees and conduct
business in an HMO facility is called a(n)
closed panel
open panel
co-op panel
capitation panel - ANSWERSclosed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident - ANSWERSoff-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a commercial
flight, what will the policy pay B's beneficiary?
$100,000
$200,000
$300,000
$400,000 - ANSWERS$300,000
An insurance company that replaces existing insurance must provide a copy of which of
the following documents to the existing insurance company?
The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity -
ANSWERSa policy summary
An insurance company formed under the laws of Canada would be known in Mississippi
as
a domestic company
an alien company
a foreign company
a mutual company - ANSWERSan alien company
, What kind of life insurance beneficiary requires his/her consent when a change of
beneficiary is made?
Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary - ANSWERSirrevocable beneficiary
From what authority derives the requirement that an insurance application contains a
disclosure stating that an investigative consumer report may be obtained on an
applicant?
Noncontributory
Contributory
Participating - ANSWERScontributory
With Disability Income insurance, an insurance company may limit the monthly benefit
amount a prospective policy holder may obtain because of the insured's
monthly expenditures at the time of disability
gross income at the time of purchase
gross income at the time of disability
occupation at the time of purchase - ANSWERSgross income at the time of the
purchase
Which statement regarding the Misstatement of Age provision is considered to be true?
Coverage will be adjusted to reflect the insured's true age if a misstatement of age is
discovered
Requires that a new policy must be applied for if a misstatement of age is found on the
current policy
Misstatement of Age provision is valid only during the contestable period
Insurer may void the policy if a misstatement of age is discovered -
ANSWERSCoverage will be adjusted to reflect the insured's true age if a misstatement
of age is discovered
The sections of an insurance contract which limit coverage are called
waivers
riders
exclusions
limitations - ANSWERSexclusions
An insured pays premiums on an annual basis for an individual health insurance policy.
What is the MINIMUM number of days for the Grace Period provision?
REAL Exam Questions &
Answers
What kind of life insurance product covers children under their parent's policy?
Family Maintenance rider
Term rider
Family Income rider
Payor benefit - Term Rider
Under a trustee group life policy, who would be eligible for a certificate of coverage?
Corporation
Employee
Employer
Labor union employee
A producer must report to the Commissioner of Insurance any administrative action or
criminal charges taken against the producer within __ days of the final disposition of the
matter.
10
15
20
30 -
The return of all or part of the commission to the insured by an insurance producer as
an inducement to purchase the insurance is known as
twisting
redlining
rebating
misrepresentation -
Insurance producer licenses normally must be renewed every
six months
one year
two years
three years
Which of the following phrases refers to the fees charged by a healthcare professional?
,Deductible
Coinsurance
Usual, customary, and reasonable expenses
Hospital expense - ANSWERSUsual, customary, and reasonable expenses
The situation in which a group of physicians are salaried employees and conduct
business in an HMO facility is called a(n)
closed panel
open panel
co-op panel
capitation panel - ANSWERSclosed panel
An accident policy will most likely pay a benefit for a(n)
self-inflicted injury
critical illness
on-the-job accident
off-the-job accident - ANSWERSoff-the-job accident
B has a $100,000 Accidental Death and Dismemberment policy that pays triple
indemnity for common carrier death. If B is killed from an accident on a commercial
flight, what will the policy pay B's beneficiary?
$100,000
$200,000
$300,000
$400,000 - ANSWERS$300,000
An insurance company that replaces existing insurance must provide a copy of which of
the following documents to the existing insurance company?
The new policy
The premium and interest figures for the proposed policy
A policy summary
The Notice Regarding Proposed Replacement of Life Insurance or Annuity -
ANSWERSa policy summary
An insurance company formed under the laws of Canada would be known in Mississippi
as
a domestic company
an alien company
a foreign company
a mutual company - ANSWERSan alien company
, What kind of life insurance beneficiary requires his/her consent when a change of
beneficiary is made?
Irrevocable beneficiary
Tertiary beneficiary
Primary beneficiary
Revocable beneficiary - ANSWERSirrevocable beneficiary
From what authority derives the requirement that an insurance application contains a
disclosure stating that an investigative consumer report may be obtained on an
applicant?
Noncontributory
Contributory
Participating - ANSWERScontributory
With Disability Income insurance, an insurance company may limit the monthly benefit
amount a prospective policy holder may obtain because of the insured's
monthly expenditures at the time of disability
gross income at the time of purchase
gross income at the time of disability
occupation at the time of purchase - ANSWERSgross income at the time of the
purchase
Which statement regarding the Misstatement of Age provision is considered to be true?
Coverage will be adjusted to reflect the insured's true age if a misstatement of age is
discovered
Requires that a new policy must be applied for if a misstatement of age is found on the
current policy
Misstatement of Age provision is valid only during the contestable period
Insurer may void the policy if a misstatement of age is discovered -
ANSWERSCoverage will be adjusted to reflect the insured's true age if a misstatement
of age is discovered
The sections of an insurance contract which limit coverage are called
waivers
riders
exclusions
limitations - ANSWERSexclusions
An insured pays premiums on an annual basis for an individual health insurance policy.
What is the MINIMUM number of days for the Grace Period provision?
