Missouri Life and Health Insurance Final Exam-
2025 COMPLETE EXAM QUESTIONS AND
VERIFIED ANSWERS |RECENTLY TESTING REAL
EXAM QUESTIONS| 100% SOLVED!!
Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? -
CORRECT ANSWERS policyowner
Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not
delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this
situation? - CORRECT ANSWERS policy was returned with the "free look" period, premium will be fully
refunded
Which of the following policies is characterized by a flexible premium and death benefit and allows policyowner control of the
investment aspect of the plan? - CORRECT ANSWERS variable universal life
Which statement regarding third party ownership of a life insurance policy is true? - CORRECT ANSWERS it is
used extensively in estate planning as well as business circumstances
P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration
of COBRA laws, which of the following statements is TRUE? - CORRECT ANSWERS She DOES need to provide
evidence of insurability
Which of the following statements is CORRECT regarding tax treatment of a lump sum payment paid to a life insurance policy's
primary beneficiary? - CORRECT ANSWERS all proceeds are income tax free in the year they are received
Q is severely injured in an automobile accident and becomes totally disabled. How many months must Q be disabled before
being able to apply for Social Security disability benefits? - CORRECT ANSWERS 5 months
Agent J takes an application and initial premium from an applicant and sends the application and premium check to the
insurance company. The insurance company returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take? - CORRECT ANSWERS return to the customer, collect a new
check made out to the insurance company, and send the new check out to the insurance company
Which of the following statements is correct regarding an employer/employee group health plan? - CORRECT ANSWERS
employer receives master policy and employees receive certificates
Which of these is a TRUE statement regarding how Missouri law recognizes an association eligible for group coverage? -
CORRECT ANSWERS the association must NOT have not been the organized for the purpose of obtaining
insurance
In Missouri, an A&H policy that is paid on a monthly basis requires a grace period of at LEAST ? - CORRECT ANSWERS
ten days
The health insurance program which is administered by each state and funded by both federal and sate governments is called?
- CORRECT ANSWERS Medicaid
Which of the following statements about accumulated interested earned on dividends from an insurance policy is TRUE? -
CORRECT ANSWERS taxed as ordinary income
A producer is circulating incorrect information about the benefits of a policy. This producer may be found guilty of? - CORRECT
ANSWERS misrepresentation
Under an Individual Health Insurance policy, the Time Limit of Certain Defenses provision states that nonfraudulent
misstatements firs become incontestable two years - CORRECT ANSWERS from the date the policy was issued
, What group term life feature permits an individual to depart from the group and continue to be covered without providing
evidence of insurability? - CORRECT ANSWERS conversion
An insured's inability to perform two or more activities of daily living may trigger which type of policy rider? - CORRECT
ANSWERS long term care
What statement about whole life policy is true? - CORRECT ANSWERS cash value may be borrowed against
Information obtained from a phone conversation to the proposed insured can be found in which of these reports? - CORRECT
ANSWERS inspection report
The section of an insurance contract which limit coverage are called - CORRECT ANSWERS exclusions
K failed to pay a renewal premium within the time granted by the insurer. K then sends in a payment which the insurer
subsequently accepts. Which policy provision specifies that coverage may be restored in this situation? - CORRECT ANSWERS
reinstatement
The advantage of reinstating an original life policy is? - CORRECT ANSWERS the premiums are based on a
younger age
Prior to a producer's license being revoked, a hearing must be held. Prior to this hearing, the director of insurance is REQUIRED
to give? - CORRECT ANSWERS written notice to the producer
At the age of 45, an individual withdraws $50,000 from his Qualified Profit-Sharing Plan and then deposits this amount into a
personal savings account. This action would result in - CORRECT ANSWERS income tax and a 10% penalty
assessed upon funds withdrawn from the qualified plan
Convincing a prospective insured to buy an insurance policy based on exaggerations is called - CORRECT ANSWERS
misrepresentation
Which of the following provisions prohibits an insurance company from incorporating external documents into an insurance
policy? - CORRECT ANSWERS entire contract
Which of the following BEST describes a Hospital Indemnity policy? - CORRECT ANSWERS coverage that pays a
stated amount per day of a covered hospitalization
When a group accident and health policy is issued to an employer - CORRECT ANSWERS a policy is issued to the
employer and a certificate is issued to each employee
Health policies that contain coverage for low protein modified food products for treatment of PKU or any inherited disease of
amino and organic acids require a coinsurance NOT to exceed of the cost of formula or food products? - CORRECT ANSWERS
50%
The suicide provision for life policies would apply to? - CORRECT ANSWERS subsequent increase in benefits
can be defined as "making an unfair comparison of two insurance policies"? - CORRECT ANSWERS
misrepresentation
Which tax would an IRA participant be subjected to on distributions received prior to age 59 1/2? - CORRECT ANSWERS
ordinary income tax and a 10% tax penalty for early withdrawals
Which provision allows a portion of any used medical benefits to be restored following a particular amount of benefit has been
used, or after the policy has been in effect for a particular period of time? - CORRECT ANSWERS restoration of
used benefit
S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the
claim. S can take legal action against the insurer beginning - CORRECT ANSWERS November 1
2025 COMPLETE EXAM QUESTIONS AND
VERIFIED ANSWERS |RECENTLY TESTING REAL
EXAM QUESTIONS| 100% SOLVED!!
Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? -
CORRECT ANSWERS policyowner
Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not
delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this
situation? - CORRECT ANSWERS policy was returned with the "free look" period, premium will be fully
refunded
Which of the following policies is characterized by a flexible premium and death benefit and allows policyowner control of the
investment aspect of the plan? - CORRECT ANSWERS variable universal life
Which statement regarding third party ownership of a life insurance policy is true? - CORRECT ANSWERS it is
used extensively in estate planning as well as business circumstances
P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration
of COBRA laws, which of the following statements is TRUE? - CORRECT ANSWERS She DOES need to provide
evidence of insurability
Which of the following statements is CORRECT regarding tax treatment of a lump sum payment paid to a life insurance policy's
primary beneficiary? - CORRECT ANSWERS all proceeds are income tax free in the year they are received
Q is severely injured in an automobile accident and becomes totally disabled. How many months must Q be disabled before
being able to apply for Social Security disability benefits? - CORRECT ANSWERS 5 months
Agent J takes an application and initial premium from an applicant and sends the application and premium check to the
insurance company. The insurance company returns the check back to J because the check is made out to J instead of the
insurance company. What action should J take? - CORRECT ANSWERS return to the customer, collect a new
check made out to the insurance company, and send the new check out to the insurance company
Which of the following statements is correct regarding an employer/employee group health plan? - CORRECT ANSWERS
employer receives master policy and employees receive certificates
Which of these is a TRUE statement regarding how Missouri law recognizes an association eligible for group coverage? -
CORRECT ANSWERS the association must NOT have not been the organized for the purpose of obtaining
insurance
In Missouri, an A&H policy that is paid on a monthly basis requires a grace period of at LEAST ? - CORRECT ANSWERS
ten days
The health insurance program which is administered by each state and funded by both federal and sate governments is called?
- CORRECT ANSWERS Medicaid
Which of the following statements about accumulated interested earned on dividends from an insurance policy is TRUE? -
CORRECT ANSWERS taxed as ordinary income
A producer is circulating incorrect information about the benefits of a policy. This producer may be found guilty of? - CORRECT
ANSWERS misrepresentation
Under an Individual Health Insurance policy, the Time Limit of Certain Defenses provision states that nonfraudulent
misstatements firs become incontestable two years - CORRECT ANSWERS from the date the policy was issued
, What group term life feature permits an individual to depart from the group and continue to be covered without providing
evidence of insurability? - CORRECT ANSWERS conversion
An insured's inability to perform two or more activities of daily living may trigger which type of policy rider? - CORRECT
ANSWERS long term care
What statement about whole life policy is true? - CORRECT ANSWERS cash value may be borrowed against
Information obtained from a phone conversation to the proposed insured can be found in which of these reports? - CORRECT
ANSWERS inspection report
The section of an insurance contract which limit coverage are called - CORRECT ANSWERS exclusions
K failed to pay a renewal premium within the time granted by the insurer. K then sends in a payment which the insurer
subsequently accepts. Which policy provision specifies that coverage may be restored in this situation? - CORRECT ANSWERS
reinstatement
The advantage of reinstating an original life policy is? - CORRECT ANSWERS the premiums are based on a
younger age
Prior to a producer's license being revoked, a hearing must be held. Prior to this hearing, the director of insurance is REQUIRED
to give? - CORRECT ANSWERS written notice to the producer
At the age of 45, an individual withdraws $50,000 from his Qualified Profit-Sharing Plan and then deposits this amount into a
personal savings account. This action would result in - CORRECT ANSWERS income tax and a 10% penalty
assessed upon funds withdrawn from the qualified plan
Convincing a prospective insured to buy an insurance policy based on exaggerations is called - CORRECT ANSWERS
misrepresentation
Which of the following provisions prohibits an insurance company from incorporating external documents into an insurance
policy? - CORRECT ANSWERS entire contract
Which of the following BEST describes a Hospital Indemnity policy? - CORRECT ANSWERS coverage that pays a
stated amount per day of a covered hospitalization
When a group accident and health policy is issued to an employer - CORRECT ANSWERS a policy is issued to the
employer and a certificate is issued to each employee
Health policies that contain coverage for low protein modified food products for treatment of PKU or any inherited disease of
amino and organic acids require a coinsurance NOT to exceed of the cost of formula or food products? - CORRECT ANSWERS
50%
The suicide provision for life policies would apply to? - CORRECT ANSWERS subsequent increase in benefits
can be defined as "making an unfair comparison of two insurance policies"? - CORRECT ANSWERS
misrepresentation
Which tax would an IRA participant be subjected to on distributions received prior to age 59 1/2? - CORRECT ANSWERS
ordinary income tax and a 10% tax penalty for early withdrawals
Which provision allows a portion of any used medical benefits to be restored following a particular amount of benefit has been
used, or after the policy has been in effect for a particular period of time? - CORRECT ANSWERS restoration of
used benefit
S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the
claim. S can take legal action against the insurer beginning - CORRECT ANSWERS November 1
