XCEL Arizona Life insurance Exam Simulator Includes
Accurate And Verified Questions Tailored For Life,
Health, Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The Actual
Testing Experience With Modules On Insurance Term.
Which life insurance settlement option pays lifetime benefits to two or more
people? - answers- :Joint and survivor
These are all accurate statements regarding universal life insurance
EXCEPT - answers- :Policy loans are not permitted
Which of the following is a true statement regarding a Medicare
Supplement policy purchased during the open enrollment period? -
answers- :The policy will be issued regardless of health
Where will a life insurance policy's proceeds be directed to if all the
beneficiaries die before the insured? - answers- :Insured's estate
Which of the following is NOT a reason the government provides
insurance? - answers- :Reduce fraudulent claims
A group Medicare Supplement policy was terminated and not replaced by
the insurer. In this situation, the insurer MUST - answers- :provide an offer
of conversion to individual coverage
Which of the following would NOT be a reason for purchasing life insurance
on a child's life? - answers- :Provide benefits for the child if the parents die
,In regards to health insurance, employees age 65 or older are typically
required to - answers- :be offered the same group health benefits offered to
the younger employees
The annuitant in a single premium deferred annuity (SPDA) - answers-
:makes only one premium payment
A(n) ________ insurer assumes risk from another insurance company. -
answers- :Reinsurance
The benefit period of Medicare Part A begins on the first day the insured -
answers- :enters a hospital
An organization that requires healthcare services to be provided by a
network of physicians and hospitals is known as a(n) - answers- :HMO
Which of the following is NOT a dividend option for a life insurance policy?
- answers- :Receiving the entire policy cash value
Which life insurance policy provision allows a policyowner to cancel the
policy and receive a full refund within a limited time period after policy
delivery? - answers- :Free-look period
Which type of life insurance policy allows a policyowner the choice of
investments along with flexible premium payments? - answers- :Variable
universal life
What type of employee welfare plans are not subject to ERISA regulations?
- answers- :Church plans
First-time homebuyers are able to withdraw up to how much from their
qualified IRAs without incurring the 10% early withdrawal penalty? -
answers- :$10,000
Participants of a small group medical plan MUST be given advance notice
of at least ___ days prior to the plan's discontinuation. - answers- :180
, Christine is receiving benefits provided from her disability income
insurance. As compared to her previous earnings, the disability benefits
should be - answers- :somewhat less
The "Use it or Lose it" rule applies to - answers- :Flexible Savings Accounts
Dividends from a mutual insurance company are paid to whom? - answers-
:Policyholders
For employees covered in multiple states under a group health plan,
jurisdiction rules cannot alter - answers- :COBRA laws
The owner of a single premium deferred annuity is entitled to do all of these
EXCEPT - answers- :make additional payments into the annuity
Emergency health care coverage for Medicare enrollees traveling abroad is
- answers- :a Medicare Supplement additional benefit
Who typically makes the purchase payments in an individual annuity? -
answers- :Owner
Which of these is true regarding the exchange of consideration among
parties involved in an insurance contract? - answers- :Can be unequal
What typically changes at the re-entry option date found in some term life
policies? - answers- :premium
Which of these policies is considered to be a comprehensive health policy?
- answers- :Major medical policy
Peter, age 50, surrenders his modified endowment contract (MEC). How is
the gain treated in terms of federal income taxes? - answers- :The gain is
treated as taxable income and a penalty tax is imposed on the gain
Which of these statements reflects an accurate portrayal of Medicare
SELECT? - answers- :Insured uses preferred providers in exchange for
paying lower premiums
Accurate And Verified Questions Tailored For Life,
Health, Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The Actual
Testing Experience With Modules On Insurance Term.
Which life insurance settlement option pays lifetime benefits to two or more
people? - answers- :Joint and survivor
These are all accurate statements regarding universal life insurance
EXCEPT - answers- :Policy loans are not permitted
Which of the following is a true statement regarding a Medicare
Supplement policy purchased during the open enrollment period? -
answers- :The policy will be issued regardless of health
Where will a life insurance policy's proceeds be directed to if all the
beneficiaries die before the insured? - answers- :Insured's estate
Which of the following is NOT a reason the government provides
insurance? - answers- :Reduce fraudulent claims
A group Medicare Supplement policy was terminated and not replaced by
the insurer. In this situation, the insurer MUST - answers- :provide an offer
of conversion to individual coverage
Which of the following would NOT be a reason for purchasing life insurance
on a child's life? - answers- :Provide benefits for the child if the parents die
,In regards to health insurance, employees age 65 or older are typically
required to - answers- :be offered the same group health benefits offered to
the younger employees
The annuitant in a single premium deferred annuity (SPDA) - answers-
:makes only one premium payment
A(n) ________ insurer assumes risk from another insurance company. -
answers- :Reinsurance
The benefit period of Medicare Part A begins on the first day the insured -
answers- :enters a hospital
An organization that requires healthcare services to be provided by a
network of physicians and hospitals is known as a(n) - answers- :HMO
Which of the following is NOT a dividend option for a life insurance policy?
- answers- :Receiving the entire policy cash value
Which life insurance policy provision allows a policyowner to cancel the
policy and receive a full refund within a limited time period after policy
delivery? - answers- :Free-look period
Which type of life insurance policy allows a policyowner the choice of
investments along with flexible premium payments? - answers- :Variable
universal life
What type of employee welfare plans are not subject to ERISA regulations?
- answers- :Church plans
First-time homebuyers are able to withdraw up to how much from their
qualified IRAs without incurring the 10% early withdrawal penalty? -
answers- :$10,000
Participants of a small group medical plan MUST be given advance notice
of at least ___ days prior to the plan's discontinuation. - answers- :180
, Christine is receiving benefits provided from her disability income
insurance. As compared to her previous earnings, the disability benefits
should be - answers- :somewhat less
The "Use it or Lose it" rule applies to - answers- :Flexible Savings Accounts
Dividends from a mutual insurance company are paid to whom? - answers-
:Policyholders
For employees covered in multiple states under a group health plan,
jurisdiction rules cannot alter - answers- :COBRA laws
The owner of a single premium deferred annuity is entitled to do all of these
EXCEPT - answers- :make additional payments into the annuity
Emergency health care coverage for Medicare enrollees traveling abroad is
- answers- :a Medicare Supplement additional benefit
Who typically makes the purchase payments in an individual annuity? -
answers- :Owner
Which of these is true regarding the exchange of consideration among
parties involved in an insurance contract? - answers- :Can be unequal
What typically changes at the re-entry option date found in some term life
policies? - answers- :premium
Which of these policies is considered to be a comprehensive health policy?
- answers- :Major medical policy
Peter, age 50, surrenders his modified endowment contract (MEC). How is
the gain treated in terms of federal income taxes? - answers- :The gain is
treated as taxable income and a penalty tax is imposed on the gain
Which of these statements reflects an accurate portrayal of Medicare
SELECT? - answers- :Insured uses preferred providers in exchange for
paying lower premiums
