Missouri Insurance Law

Question 1

What document must be provided to the policyowner or applicant during policy replacement?

Answer 1

Notice regarding replacement

Question 2

What must contain a notice of the graded death benefit in a life insurance policy with graded death benefits?

Answer 2

The policy application

Question 3

An insurance producer license does not include..

Answer 3

Name of the insurer’s represented on the license

Question 4

If you’ve completed 20 hours of continuing education credits in order to renew your license how manty hours of continuing education will you need to complete in order to renew next term?

Answer 4

12

Question 5

In the first year of a life insurance policy with graded benefits, the death benefit is less than 50% of the face amount of the policy, what amount must the policy contain in accidental death benefits during the graded period?

Answer 5

Full face amount of policy

Question 6

How often must an insurer who delivers variable life insurance policies in MO determine any changes in variable death benefits?

Answer 6

Annually

Question 7

Life insurers are prohibited from including any advertisements except

Answer 7

Policy appraisals and analyses

Question 8

The director must conduct a financial exam of every insurer licensed in Missouri at least

Answer 8

every 5 years

Question 9

What is NOT among the lines of authority for which an insurance producer may qualify in the state of MO

Answer 9

Group health insurance

Question 10

If an insurer meets the states financial requirements and is approved to transact business in the state, it is considered to be

Answer 10

Authorized

Question 11

What is NOT considered a rebate if offered to an insured?

Answer 11

Dividends from a mutual insurer

Question 12

How is the director selected for the office?

Answer 12

Appointed by the Governor

Question 13

During replacement of life insurance, a replacing insurer must do what?

Answer 13

Obtain a list of all life insurance policies that will be replaced

Question 14

What is not used to determine annuity suitability?

Answer 14

Age

Question 15

What is true regarding continuing education requirements for nonresident producers?

Answer 15

the producer does not need to meet MO CE requirements if they are meeting home state CE requirements

Question 16

What is the purpose of the insurability provision in group life policies issues in MO?

Answer 16

To allow the insurer to require proof of insurability from individual insured

Question 17

What is NOT required on an application for a variable life insurance policy?

Answer 17

A statement explaining the use of separate accounts in variable insurance

Question 18

How must a replacing producer respond to an applicant wishing to replace existing life insurance?

Answer 18

the producer must provide a Notice Regarding Replacement

Question 19

Within how many days are insurers required to notify the director that a producers appointment has been terminated?

Answer 19

30 days

Question 20

How many hours of continuing educations must be completed in ethics and MO law each licensing period?

Answer 20

3