2025-2026 Missouri Insurance - Life,
Health, and Accident Test. Questions
with Correct Verified Answers. Graded
A
___________ manufacture and sell insurance coverage in the form of
policies or contracts of insurance. – ANS Insurers
(Underwriting) Completing the Application - ANS Required signatures
Conditional receipt may be issued
Formal request for the insurer to issue a policy
(Underwriting) Policy Delivery - ANSStatement of Good Health
Producer explains rating, premiums, coverages, and policy benefits
Constructive delivery
(Underwriting) Underwriting Process - ANSClassification of risk and rating
Insurability is determined
MIB report may be requested
3 ways to pay premiums for Ordinary Life Insurance - ANSStraight
Premium - Continuous regular payments
Limited Payments - Pay off sooner with higher premiums (Ex: paid by 65)
Single Premium - paid in one lump sum
1
,A ______________ insurance company is owned by its policyholders.
A - Stock
B - Mutual
C - Reciprocal
D - Fraternal Benefits Society - ANSB - Mutual
A "level term" policy means that the _________ remains the same
throughout the entire policy period.
A - Beneficiary
B - Cash value
C - Face amount
D - Loan value - ANSC - Face amount
A federal regulation called the ______________ protects consumer
privacy.
A - Privacy Protection Act
B - Fraudulent Insurance Act
C - Consolidated Omnibus Budget Reconciliation Act
D - Fair Credit Reporting Acta - ANSD - Fair Credit Reporting Acta
A general report of the applicant's finances, character, morals, work,
hobbies, and other habits is referred to as a(n):
A - Medical Information Bureau Report
B - Investigative Consumer Report
C - Application Report
2
,D - Attending Physician's Report - ANSB - Investigative Consumer Report
A group disability plan is issued on a contributory basis and the employer
pays 80% of the premium. If an employee is eligible to receive a weekly
benefit of $1,000, how much is taxable?
A $800
B $0
C $200
D $1,000 - ANSA $800
Since the plan is written on a contributory basis, the percentage of premium
the employer pays is the percentage of the benefit that is taxable. The
employer pays 80% of the premium, therefore 80% of $1,000 is taxable, or
$800.
A licensed insurance producer has an administrative action taken against
them in another state. The producer must inform the Commissioner of the
action within _______. - ANS30 days of the final disposition
A licensed insurance producer moves to a new address. The change of
address must be reported to the Commissioner within _______. - ANS30
days of the change
A licensee over _______ years old are eligible for a waiver of CE
requirements. - ANS70
3
, A life insurance policy is being applied for on Z's life. In order for the
contract to be valid, all of the following have an insurable interest and could
be the owner of the policy, except:
A - Z's business partner
B - Z's neighbor
C-Z
D - Z's spouse - ANSB - Z's neighbor
A Medicare beneficiary enrolled in a Medicare Advantage plan may have
any of these other insurance plans, EXCEPT:
A Medicare supplement
B Life insurance with cash value in excess of $1,500
C Long-term care
D Disability income - ANSA Medicare supplement
A person enrolled in a Medicare Advantage plan cannot also have a
Medicare Supplement plan.
A partial withdrawal is permitted on which of the following policies?
A - Variable Whole Life
B - Universal Life
C - Current Assumption Whole Life
D - Whole Life - ANSB - Universal Life
A person applying for insurance for themselves or someone else is a(n):
A - Applicant
B - Fiduciary
C - Sponsor
4
Health, and Accident Test. Questions
with Correct Verified Answers. Graded
A
___________ manufacture and sell insurance coverage in the form of
policies or contracts of insurance. – ANS Insurers
(Underwriting) Completing the Application - ANS Required signatures
Conditional receipt may be issued
Formal request for the insurer to issue a policy
(Underwriting) Policy Delivery - ANSStatement of Good Health
Producer explains rating, premiums, coverages, and policy benefits
Constructive delivery
(Underwriting) Underwriting Process - ANSClassification of risk and rating
Insurability is determined
MIB report may be requested
3 ways to pay premiums for Ordinary Life Insurance - ANSStraight
Premium - Continuous regular payments
Limited Payments - Pay off sooner with higher premiums (Ex: paid by 65)
Single Premium - paid in one lump sum
1
,A ______________ insurance company is owned by its policyholders.
A - Stock
B - Mutual
C - Reciprocal
D - Fraternal Benefits Society - ANSB - Mutual
A "level term" policy means that the _________ remains the same
throughout the entire policy period.
A - Beneficiary
B - Cash value
C - Face amount
D - Loan value - ANSC - Face amount
A federal regulation called the ______________ protects consumer
privacy.
A - Privacy Protection Act
B - Fraudulent Insurance Act
C - Consolidated Omnibus Budget Reconciliation Act
D - Fair Credit Reporting Acta - ANSD - Fair Credit Reporting Acta
A general report of the applicant's finances, character, morals, work,
hobbies, and other habits is referred to as a(n):
A - Medical Information Bureau Report
B - Investigative Consumer Report
C - Application Report
2
,D - Attending Physician's Report - ANSB - Investigative Consumer Report
A group disability plan is issued on a contributory basis and the employer
pays 80% of the premium. If an employee is eligible to receive a weekly
benefit of $1,000, how much is taxable?
A $800
B $0
C $200
D $1,000 - ANSA $800
Since the plan is written on a contributory basis, the percentage of premium
the employer pays is the percentage of the benefit that is taxable. The
employer pays 80% of the premium, therefore 80% of $1,000 is taxable, or
$800.
A licensed insurance producer has an administrative action taken against
them in another state. The producer must inform the Commissioner of the
action within _______. - ANS30 days of the final disposition
A licensed insurance producer moves to a new address. The change of
address must be reported to the Commissioner within _______. - ANS30
days of the change
A licensee over _______ years old are eligible for a waiver of CE
requirements. - ANS70
3
, A life insurance policy is being applied for on Z's life. In order for the
contract to be valid, all of the following have an insurable interest and could
be the owner of the policy, except:
A - Z's business partner
B - Z's neighbor
C-Z
D - Z's spouse - ANSB - Z's neighbor
A Medicare beneficiary enrolled in a Medicare Advantage plan may have
any of these other insurance plans, EXCEPT:
A Medicare supplement
B Life insurance with cash value in excess of $1,500
C Long-term care
D Disability income - ANSA Medicare supplement
A person enrolled in a Medicare Advantage plan cannot also have a
Medicare Supplement plan.
A partial withdrawal is permitted on which of the following policies?
A - Variable Whole Life
B - Universal Life
C - Current Assumption Whole Life
D - Whole Life - ANSB - Universal Life
A person applying for insurance for themselves or someone else is a(n):
A - Applicant
B - Fiduciary
C - Sponsor
4
