Arizona life and health insurance exam
ACTUAL QUESTIONS AND CORRECT
ANSWERS
When the disclosure of an insured's nonpublic information is involved, what is
the insurer obligated to do? - CORRECT ANSWERS Give notice,
explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received
after - CORRECT ANSWERS 9:00 PM
A health plan offered by private insurance companies is - CORRECT
ANSWERS Medicare Supplement
Chris has a single major medical contract which covers all medical expenses.
His plan is considered to be - CORRECT ANSWERS comprehensive
In accident and health insurance, 60 days must pass after written proof of loss
has been received by an insurer before the insured may - CORRECT
ANSWERS 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 - CORRECT ANSWERS
Ten year term insurance for a person aged 55
All of the following are unfair claims settlement practices except - CORRECT
ANSWERS An attempt to settle a claim by arbitration
What is covered under a limited accident and health insurance policy? -
CORRECT ANSWERS Limited perils and amounts
,A life insurance policy provision that has the ability to reduce the death benefit
is called - CORRECT ANSWERS 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 - CORRECT ANSWERS Written proof
of the occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax sheltered
annuity (TSA)? - CORRECT ANSWERS Taxed as ordinary income in
the year received
How does a continuous premium whole life policy differ from a limited
payment whole life policy? - CORRECT ANSWERS The time period in
which premiums will be paid
Which of these is an accurate statement regarding the fixed period settlement
option on a life insurance policy? - CORRECT ANSWERS A portion of
the payments paid to the beneficiary comes from interest calculated on the
proceeds of the policy
Under what circumstance does an accident and health insurer have the right to
request an autopsy? - CORRECT ANSWERS When not prohibited by
state law
A material change in a modified endowment contract (MEC) results in -
CORRECT ANSWERS the seven pay test, adjusted for cash value, being
applied again
, Under an adjustable life insurance policy, which of the following may NOT be
changed without further underwriting? - CORRECT ANSWERS The
person insured
Linda is covered with long-term care insurance and has early-stage Alzheimer's.
She is still able to reside in her home while receiving primary care, as opposed
to moving into a nursing home. All of the following long-term benefits
encourage this EXCEPT for - CORRECT ANSWERS custodial care
Employer-paid qualified long-term care insurance premiums are typically -
CORRECT ANSWERS Excluded from the employee's gross income.
Which statement regarding the certificate of insurance is accurate? - CORRECT
ANSWERS Indicates evidence of an employee's insurance coverage
Purchasing insurance is an example of risk - CORRECT ANSWERS
transference
When an applicant applies for a large amount of life insurance coverage, which
of the following would likely NOT be an underwriting requirement? -
CORRECT ANSWERS 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 - CORRECT ANSWERS Experimental and investigative services
All of these statements concerning group credit life insurance are false EXCEPT
- CORRECT ANSWERS The face amount is determined by the
outstanding loan balance
ACTUAL QUESTIONS AND CORRECT
ANSWERS
When the disclosure of an insured's nonpublic information is involved, what is
the insurer obligated to do? - CORRECT ANSWERS Give notice,
explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received
after - CORRECT ANSWERS 9:00 PM
A health plan offered by private insurance companies is - CORRECT
ANSWERS Medicare Supplement
Chris has a single major medical contract which covers all medical expenses.
His plan is considered to be - CORRECT ANSWERS comprehensive
In accident and health insurance, 60 days must pass after written proof of loss
has been received by an insurer before the insured may - CORRECT
ANSWERS 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 - CORRECT ANSWERS
Ten year term insurance for a person aged 55
All of the following are unfair claims settlement practices except - CORRECT
ANSWERS An attempt to settle a claim by arbitration
What is covered under a limited accident and health insurance policy? -
CORRECT ANSWERS Limited perils and amounts
,A life insurance policy provision that has the ability to reduce the death benefit
is called - CORRECT ANSWERS 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 - CORRECT ANSWERS Written proof
of the occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax sheltered
annuity (TSA)? - CORRECT ANSWERS Taxed as ordinary income in
the year received
How does a continuous premium whole life policy differ from a limited
payment whole life policy? - CORRECT ANSWERS The time period in
which premiums will be paid
Which of these is an accurate statement regarding the fixed period settlement
option on a life insurance policy? - CORRECT ANSWERS A portion of
the payments paid to the beneficiary comes from interest calculated on the
proceeds of the policy
Under what circumstance does an accident and health insurer have the right to
request an autopsy? - CORRECT ANSWERS When not prohibited by
state law
A material change in a modified endowment contract (MEC) results in -
CORRECT ANSWERS the seven pay test, adjusted for cash value, being
applied again
, Under an adjustable life insurance policy, which of the following may NOT be
changed without further underwriting? - CORRECT ANSWERS The
person insured
Linda is covered with long-term care insurance and has early-stage Alzheimer's.
She is still able to reside in her home while receiving primary care, as opposed
to moving into a nursing home. All of the following long-term benefits
encourage this EXCEPT for - CORRECT ANSWERS custodial care
Employer-paid qualified long-term care insurance premiums are typically -
CORRECT ANSWERS Excluded from the employee's gross income.
Which statement regarding the certificate of insurance is accurate? - CORRECT
ANSWERS Indicates evidence of an employee's insurance coverage
Purchasing insurance is an example of risk - CORRECT ANSWERS
transference
When an applicant applies for a large amount of life insurance coverage, which
of the following would likely NOT be an underwriting requirement? -
CORRECT ANSWERS 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 - CORRECT ANSWERS Experimental and investigative services
All of these statements concerning group credit life insurance are false EXCEPT
- CORRECT ANSWERS The face amount is determined by the
outstanding loan balance
