Insurance Questions

The Director , or his designated examiner , may examine the conduct of any insurance company operating in Missouri The Director must conduct a financial examination : of every insurer licensed in Missouri at least a) Every other year . b ) Every three years . c ) Every five years d) Every year .

What is the purpose of the insurability provision in group life policies issued in this state ? a ) To allow the insurer to require proof of insurability from individual insured b ) To automatically renew coverag for a new policy term c ) To require the insurer to provide certificates of insurance to individual insured d ) To guarantee insurability for all eligible applicants

All individual health policies , issued in the state of Missouri which provide coverage for hospital treatment must also provide coverage for treatment of alcoholism , which may be limited to how many days ? a) 60 b ) 180 c ) There is no limit for the treatment of chemical dependency d) 30

amount due . Which of the following best describes the unfair trade practice of defamation ? al Assuming the name and identity of another person b ) Issuing false advertising material ( c ) Refusing to deal with other insurers d ) Making derogatory oral statements about another insurer's financial condition

An individual obtained a life insurance policy in March , but 3 months later was deemed clinically insane by the state of Missouri . Five months later the insured takes his own life . What type of death benefits will the policy beneficiaries receive ? A No death benefits are ever received for deaths that are ruled as suicides . B No benefits will be received because the policy was not in effect for at least one year ; however , all premium payments will be returned

An Insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy What is this an example of ? A Twisting B Defamation C False advertising D Unfair claims

What must contain a notice of the graded death benefit in a life insurance policy with graded death benefits ? a ) The policy's provisions section b ) The policy's exclusions section c ) The policy application d ) The policy underwriting explanation

The classification " small employer " means any person actively engaged in a business during the preceding calendar year employed a ) At least 2 and not more than 50 persons b ) At least 5 and not more than 75 persons . c ) At least 10 and not more than 100 persons . d ) At least 3 and not more than 25 persons .

Within what time frame after the effective date of coverage of an individual long - term care policy may an insurer exclude coverage of a loss related to a pre - existing condition ? a ) 3 months b ) Once the policy takes effect , all losses will be covered c ) 6 months d) 12 months

If the beneficiary of a life insurance policy receives death benefit payments that consist of principal and interest, which portion, if any, will be taxed?

Upon surrender of a life insurance policy, what portion of the cash value will be taxed?

What is the general taxation rule for death benefits payable to the beneficiary of a life insurance policy?

According to the taxation rules of life insurance policies, how are cash value increases taxed?

In a direct rollover, how is the money transferred from one retirement plan to a new one?

What portion of a nonqualified annuity payment would be taxed?

Is the death benefit of a life insurance policy taxed to the beneficiary if it's received as a lump sum?

What do named peril policies include in aircraft hull policies?Choose one answer. a. Any or all of the following coverages: fire, stationary land damage, windstorms, and crash insurance. b. Any or all of the following coverages: stationary land damage, windstorms, crash insurance and theft. c. Any or all of the following coverages: fire, stationary land damage, windstorms, crash insurance and theft. d. Bodily injury liability (excluding passenger liability), passenger liability and property damage liability insurance.

What are some important exclusions found in all aircraft policies?Choose one answer. a. An aircraft is not covered while being maintained for any purpose other than the use classification in the policy declarations b. An aircraft is not covered while in flight if operated by a pilot not named in the declarations c. There is no coverage if the aircraft is not registered under a standard category airworthiness certificate d. All of the answers are correct

Describe a hull policy.Choose one answer. a. All of the answers are correct b. Available coverage includes all risks of physical damage on the aircraft not in flight, and named peril coverage while in flight. c. It is provided to protect the risk of loss or damage to an insured aircraft itself d. Available coverage includes all risk of physical damage on the aircraft whether in flight or not

Explain what an aircraft "in motion" means.Choose one answer. a. "In motion" includes in flight b. Both of the answers are correct c. None of the answers are correct d. The most common definition of "in motion" is while the aircraft is moving under its own power or momentum generated there from