ARIZONA LIFE AND HEALTH
INSURANCE EXAM WITH
CORRECT DETAILED ANSWERS
In accident and health insurance, 60 days must pass after written proof of loss has been
received by an insurer before the insured may - ANSWER --Bring legal action against the
insurer
When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium
rate will be the current rate for - ANSWER --Ten year term insurance for a person aged 55
All of the following are unfair claims settlement practices except - ANSWER --An attempt
to settle a claim by arbitration
When the disclosure of an insured's nonpublic information is involved, what is the insurer
obligated to do? - ANSWER --Give notice, explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after -
ANSWER --9:00 PM
A health plan offered by private insurance companies is - ANSWER --Medicare
Supplement
,Chris has a single major medical contract which covers all medical expenses. His plan is
considered to be - ANSWER --comprehensive
What is covered under a limited accident and health insurance policy? - ANSWER --
Limited perils and amounts
A life insurance policy provision that has the ability to reduce the death benefit is called -
ANSWER --Accelerated (living) benefit
If an accident and health insurance claim form is NOT supplied to the insured within 15 says
after the notice of claim, the insured may comply with the proof of loss provision by submitting
- ANSWER --Written proof of the occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)? -
ANSWER --Taxed as ordinary income in the year received
How does a continuous premium whole life policy differ from a limited payment whole life
policy? - ANSWER --The time period in which premiums will be paid
When an applicant applies for a large amount of life insurance coverage, which of the following
would likely NOT be an underwriting requirement? - ANSWER --eye examination
A comprehensive major medical health insurance policy contains an eligible expenses provision
which identifies the type of health care services that are covered. All of the following health
care services are typical covered EXCEPT for - ANSWER --Experimental and investigative
services
, All of these statements concerning group credit life insurance are false EXCEPT -
ANSWER --The face amount is determined by the outstanding loan balance
Who may terminate coverage under and cancelable health insurance policy? - ANSWER --
insurer or insured
The interest credited to the cash values of personally-owned non-qualified annuities is
considered - ANSWER --tax deferred
An insurer that confines or largely limits the exposures it writes to those of its owners is called -
ANSWER --captive
Dividends from a mutual insurance company are paid to whom? - ANSWER --
Policyholders
A business may purchase an annuity for all of the following reasons EXCEPT - ANSWER --
Informally finding a non-qualified deferred compensation plan
An organization that requires healthcare services to be provided by a network of physicians and
hospitals is known as an - ANSWER --HMO
In Arizona, and insurer providing small employer group medical plans may discontinue an
employers coverage if - ANSWER --The insurer no longer offers the plan to any employer
Which of the following statements is NOT true concerning the relationship between group
health insurance plans and Medicare? (Assuming the business has more than 20 employees) -
ANSWER --Group health coverage is NOT available for workers over the age of 65
INSURANCE EXAM WITH
CORRECT DETAILED ANSWERS
In accident and health insurance, 60 days must pass after written proof of loss has been
received by an insurer before the insured may - ANSWER --Bring legal action against the
insurer
When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium
rate will be the current rate for - ANSWER --Ten year term insurance for a person aged 55
All of the following are unfair claims settlement practices except - ANSWER --An attempt
to settle a claim by arbitration
When the disclosure of an insured's nonpublic information is involved, what is the insurer
obligated to do? - ANSWER --Give notice, explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after -
ANSWER --9:00 PM
A health plan offered by private insurance companies is - ANSWER --Medicare
Supplement
,Chris has a single major medical contract which covers all medical expenses. His plan is
considered to be - ANSWER --comprehensive
What is covered under a limited accident and health insurance policy? - ANSWER --
Limited perils and amounts
A life insurance policy provision that has the ability to reduce the death benefit is called -
ANSWER --Accelerated (living) benefit
If an accident and health insurance claim form is NOT supplied to the insured within 15 says
after the notice of claim, the insured may comply with the proof of loss provision by submitting
- ANSWER --Written proof of the occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)? -
ANSWER --Taxed as ordinary income in the year received
How does a continuous premium whole life policy differ from a limited payment whole life
policy? - ANSWER --The time period in which premiums will be paid
When an applicant applies for a large amount of life insurance coverage, which of the following
would likely NOT be an underwriting requirement? - ANSWER --eye examination
A comprehensive major medical health insurance policy contains an eligible expenses provision
which identifies the type of health care services that are covered. All of the following health
care services are typical covered EXCEPT for - ANSWER --Experimental and investigative
services
, All of these statements concerning group credit life insurance are false EXCEPT -
ANSWER --The face amount is determined by the outstanding loan balance
Who may terminate coverage under and cancelable health insurance policy? - ANSWER --
insurer or insured
The interest credited to the cash values of personally-owned non-qualified annuities is
considered - ANSWER --tax deferred
An insurer that confines or largely limits the exposures it writes to those of its owners is called -
ANSWER --captive
Dividends from a mutual insurance company are paid to whom? - ANSWER --
Policyholders
A business may purchase an annuity for all of the following reasons EXCEPT - ANSWER --
Informally finding a non-qualified deferred compensation plan
An organization that requires healthcare services to be provided by a network of physicians and
hospitals is known as an - ANSWER --HMO
In Arizona, and insurer providing small employer group medical plans may discontinue an
employers coverage if - ANSWER --The insurer no longer offers the plan to any employer
Which of the following statements is NOT true concerning the relationship between group
health insurance plans and Medicare? (Assuming the business has more than 20 employees) -
ANSWER --Group health coverage is NOT available for workers over the age of 65
