Insurance Exam AZ #1333 NEWEST ACTUAL EXAM
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+ (2025)
An insurer must keep advertising materials and records for
at least how many years? - CORRECT ANSWER 3
The insurance coverage in a variable life insurance policy
may vary based on the value of - CORRECT ANSWER the
underlying investments
When is it acceptable to charge or receive a fee or service
charge in addition to the premium in connection with the
transaction of insurance? - CORRECT ANSWER If the
amount of the fee or service charge is reasonably related to
the cost of the service.
The dental specialty which deals with the replacement of
missing teeth is called - CORRECT ANSWER
Prosthodontics
Which of the following is NOT a valid reason for an insurer to
contest a life insurance policy during the policy's first two
years of existence? - CORRECT ANSWER Misstatement
of age
,Which of the following would most likely purchase an
immediate annuity? - CORRECT ANSWER Retiree having
a lump sum to invest.
A signed good health statement may be requested by a life
producer at the time of - CORRECT ANSWER Policy
delivery
Tim is covered by Policy A with a $4,000 limit and by Policy
B with a $2,000 limit. Policy A is primary. If a $6,000 loss is
incurred, what will each policy pay? - CORRECT ANSWER
A: 4,000 B: 2,000
Which of the following is NOT a valid contract age? -
CORRECT ANSWER An annuity exchanged for a life
insurance policy.
Tim is covered by an accident and health insurance policy
that may not be changed in any way by the insurer up to a
stetted age, as long as the premiums are paid. What type of
policy is this? - CORRECT ANSWER Noncancelable
An insurer will typically assess a back-end load on a
deferred annuity that is cancelled during the early contract
years. What is the back-end load referred to as? - CORRECT
ANSWER Surrender charge
What is considered a valid reason for small corporations to
insure the lives of its major stockholders? - CORRECT
ANSWER Fund a buy-sell agreement
, The insured's consideration given for a health insurance
policy is - CORRECT ANSWER the first premium
payment and the application
And since major medical health insurance policy contains an
eligible expense provision which identifies the types of
healthcare services that are covered all of the following
healthcare services are typically covered except for -
CORRECT ANSWER experimental and investigative
services
Mark is covered by a policy that issues the regular
occupation (own-occ) definition of total disability. He will be
considered disabled if unable to - CORRECT ANSWER
perform the substantial and marital duties of his regular
occupation
Patrick purchased a long-term care policy. He has a health
condition for which medical treatment was recommended by
a physician within 6 months prior to the policy's effective
date. This condition is called a(n) - CORRECT ANSWER
pre-existing condition
Newborn children are automatically covered under an
existing family medical plan at the moment of birth for a
period of at least how many days? - CORRECT ANSWER
31
How are benefit payments from individually-owned medical
expense policies treated for tax purposes? - CORRECT
ANSWER exempt from income taxes
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+ (2025)
An insurer must keep advertising materials and records for
at least how many years? - CORRECT ANSWER 3
The insurance coverage in a variable life insurance policy
may vary based on the value of - CORRECT ANSWER the
underlying investments
When is it acceptable to charge or receive a fee or service
charge in addition to the premium in connection with the
transaction of insurance? - CORRECT ANSWER If the
amount of the fee or service charge is reasonably related to
the cost of the service.
The dental specialty which deals with the replacement of
missing teeth is called - CORRECT ANSWER
Prosthodontics
Which of the following is NOT a valid reason for an insurer to
contest a life insurance policy during the policy's first two
years of existence? - CORRECT ANSWER Misstatement
of age
,Which of the following would most likely purchase an
immediate annuity? - CORRECT ANSWER Retiree having
a lump sum to invest.
A signed good health statement may be requested by a life
producer at the time of - CORRECT ANSWER Policy
delivery
Tim is covered by Policy A with a $4,000 limit and by Policy
B with a $2,000 limit. Policy A is primary. If a $6,000 loss is
incurred, what will each policy pay? - CORRECT ANSWER
A: 4,000 B: 2,000
Which of the following is NOT a valid contract age? -
CORRECT ANSWER An annuity exchanged for a life
insurance policy.
Tim is covered by an accident and health insurance policy
that may not be changed in any way by the insurer up to a
stetted age, as long as the premiums are paid. What type of
policy is this? - CORRECT ANSWER Noncancelable
An insurer will typically assess a back-end load on a
deferred annuity that is cancelled during the early contract
years. What is the back-end load referred to as? - CORRECT
ANSWER Surrender charge
What is considered a valid reason for small corporations to
insure the lives of its major stockholders? - CORRECT
ANSWER Fund a buy-sell agreement
, The insured's consideration given for a health insurance
policy is - CORRECT ANSWER the first premium
payment and the application
And since major medical health insurance policy contains an
eligible expense provision which identifies the types of
healthcare services that are covered all of the following
healthcare services are typically covered except for -
CORRECT ANSWER experimental and investigative
services
Mark is covered by a policy that issues the regular
occupation (own-occ) definition of total disability. He will be
considered disabled if unable to - CORRECT ANSWER
perform the substantial and marital duties of his regular
occupation
Patrick purchased a long-term care policy. He has a health
condition for which medical treatment was recommended by
a physician within 6 months prior to the policy's effective
date. This condition is called a(n) - CORRECT ANSWER
pre-existing condition
Newborn children are automatically covered under an
existing family medical plan at the moment of birth for a
period of at least how many days? - CORRECT ANSWER
31
How are benefit payments from individually-owned medical
expense policies treated for tax purposes? - CORRECT
ANSWER exempt from income taxes
