MISSOURI LIFE AND HEALTH INSURANCE EXAM
2024 WITH NGN QUESTIONS AND ANSWERS
(VERIFIED FULL EXAM) A+ GRADE
Which of the following may not be issued after the director of insurance finds an insurance code violation committed by a licensee?1)warrant for arrest 2)cease and desist order 3)consent order 4)suspension - ANSWER✔✔Warrant for arrest What contract allows a policy owner to sell a life insurance policy for more than it's value? - ANSWER✔✔Life settlement contract Which of these induviduals may NOT be compensated from an insurance company?1)a producer appointed by that company 2)an administrative assistant to the CEO of the insurer 3)a licensed producer not appointed by the company 4)a retired insurance agency owner - ANSWER✔✔A licensed producer not appointed by the company A foreign insurance company cannot conduct business in Missouri without a 1)approval of the NAIC 2)a certificate of authority to transact business in Missouri 3)a waiver from their home state 4)reaching a minimum level of sales - ANSWER✔✔A certificate of authority to transact business in Missouri 1 / 2
Quarterly premium payments increase the annual cost of insurance because 1) insurer risk exposure is greater 2)interest to the insurer is increased while administrative costs are decreased 3)mortality costs are greater 4)interest to the insurer is decreased while the administrative costs are increased - ANSWER✔✔Interest to the insurer is decreased while the administrative costs are increased COBRA gives workers and their families whose employment has been terminated the right too - ANSWER✔✔Continue group health benefits Chemical dependency coverage is required in which type of policy?1)Comprehensive major medical 2)Cancer 3)Short term disability 4)Long term care - ANSWER✔✔Comprehensive major medical How do life insurance companies handle cases where the insured commits suicide within the contract's stated Contestable period? - ANSWER✔✔Claims are denied under the Suicide clause of the policy An insurance company normally has 2 years to contest information provided on an accident and health
application. This 2 year period begins on the date that the:
1)medical examination is given 2)producer completes the application 3)insurer dates the policy 4)the first premium is made - ANSWER✔✔Insurer dates the policy A policyowner's rights are limited under which beneficiary designation? - ANSWER✔✔irrevocable A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a
- / 2