Arizona Life and Health Insurance Exam
UPDATED Study Guide QUESTIONS
AND CORRECT ANSWERS
Inpatient Drugs - CORRECT ANSWERS Medicare Part A typically
covers
Military Families - CORRECT ANSWERS Which of the following does
TRI-CARE provide accident and health coverage to
The insured's education, training, and experience - CORRECT ANSWERS
What is taken into consideration when defining 'total disability' in a
disability income insurance policy
8:00 AM and 9:00 PM - CORRECT ANSWERS Telemarketing calls may
only be received between the hours of
After a stated period of time, claims cannot be denied due to material
misrepresentation on the application - CORRECT ANSWERS Which
statement accurately describes the 'time limit on certain defenses'
Military Duty - CORRECT ANSWERS Which of the following is
excluded in a medical expense plan?
Trust - CORRECT ANSWERS The group of two or more small
employers in order to obtain group health insurance at a favorable rate is called
a multiple employer __
Decreasing term life - CORRECT ANSWERS Which of these life
insurance policies does NOT contain a cash value provision?
,Noncancelable - CORRECT ANSWERS Which of the following health
insurance plans charges a premium that cannot be increased?
Three years - CORRECT ANSWERS How long must a producer
maintain customer records for an insurance transaction?
Individual - CORRECT ANSWERS The type of health insurance in
which underwriting procedures are the most restrictive is
The applicant must be enrolled in a High Deductible Health Plan (HDHP) -
CORRECT ANSWERS In order to contribute to a Health Savings
Account (HSA)
Protect against medical care costs and the loss of earning power - CORRECT
ANSWERS The main role of accident and health and disability insurance
is to
primary care physician - CORRECT ANSWERS Karen is a health
maintenance organization (HMO) subscriber, who provides all of her
preventative and routine care?
The length of prescription - CORRECT ANSWERS Health care costs
can be better controlled by utilizing preadmission testing. preadmission testing
can reduce the __
The policy is surrendered for less than what was paid into it - CORRECT
ANSWERS Taxable income may be the result from all these modified
endowment contract (MEC) transactions EXCEPT for
,Intentional, self-inflicted injuries that occur at the worksite - CORRECT
ANSWERS Which cause of disability is NOT covered under Arizona
workers compensation laws?
Self maintenance expenses - CORRECT ANSWERS Which of these
factors does NOT influence an applicant's need for life insurance?
100% - CORRECT ANSWERS John received a one-time distribution of
$50,000 from his modified endowment contract (MEC). Prior to that, the
contract's cash value was $150,000, the contract investment amount was
$100,000, and the death benefit was $500,000. What percentage of the $50,000
distribution was taxable as ordinary income?
Lender - CORRECT ANSWERS The death proceeds of a credit life
insurance policy are typically paid to the
The installment payment amount is determined by the total number of injuries -
CORRECT ANSWERS Which statement regarding a fixed period
settlement option is correct?
Cross purchase agreement - CORRECT ANSWERS Which of the
following disability buy-sell agreements is best suited for businesses with a
small number of partners?
Management - CORRECT ANSWERS Risk __ is the process of
analyzing exposures that create risk and designing programs to handle them
A cash benefit will be provided if the insured is alive at the end of the policy
period - CORRECT ANSWERS Which of these is NOT an advantage of
term life insurance?
, Life insurance - CORRECT ANSWERS Which of the following
financial products creates an instant estate, no matter when the date of death
excluded from the employee's gross income - CORRECT ANSWERS
Employer-paid qualified long-term care insurance premiums are typically
Marriage partners - CORRECT ANSWERS Which of the following
relationships demonstrates insurable interest in the absence of economic
interest?
Insurance company - CORRECT ANSWERS Who is protected with the
"other insurance with this insurer" provision?
Cost containment - CORRECT ANSWERS Reductions in coverage are
one feature of _______ in Health insurance policies.
Available to the policy owner when policy has been surrendered - CORRECT
ANSWERS Which statement regarding the cash value of a whole life
insurance policy is correct?
The stated person or entity who is designated to receive the death proceeds -
CORRECT ANSWERS Who is the beneficiary in a life insurance policy
Special Enrollment Period - CORRECT ANSWERS A loss of minimum
essential coverage usually counts as a qualifying event that triggers what?
Risk - CORRECT ANSWERS Which of the following can be defined as
a 'the potential for loss'
UPDATED Study Guide QUESTIONS
AND CORRECT ANSWERS
Inpatient Drugs - CORRECT ANSWERS Medicare Part A typically
covers
Military Families - CORRECT ANSWERS Which of the following does
TRI-CARE provide accident and health coverage to
The insured's education, training, and experience - CORRECT ANSWERS
What is taken into consideration when defining 'total disability' in a
disability income insurance policy
8:00 AM and 9:00 PM - CORRECT ANSWERS Telemarketing calls may
only be received between the hours of
After a stated period of time, claims cannot be denied due to material
misrepresentation on the application - CORRECT ANSWERS Which
statement accurately describes the 'time limit on certain defenses'
Military Duty - CORRECT ANSWERS Which of the following is
excluded in a medical expense plan?
Trust - CORRECT ANSWERS The group of two or more small
employers in order to obtain group health insurance at a favorable rate is called
a multiple employer __
Decreasing term life - CORRECT ANSWERS Which of these life
insurance policies does NOT contain a cash value provision?
,Noncancelable - CORRECT ANSWERS Which of the following health
insurance plans charges a premium that cannot be increased?
Three years - CORRECT ANSWERS How long must a producer
maintain customer records for an insurance transaction?
Individual - CORRECT ANSWERS The type of health insurance in
which underwriting procedures are the most restrictive is
The applicant must be enrolled in a High Deductible Health Plan (HDHP) -
CORRECT ANSWERS In order to contribute to a Health Savings
Account (HSA)
Protect against medical care costs and the loss of earning power - CORRECT
ANSWERS The main role of accident and health and disability insurance
is to
primary care physician - CORRECT ANSWERS Karen is a health
maintenance organization (HMO) subscriber, who provides all of her
preventative and routine care?
The length of prescription - CORRECT ANSWERS Health care costs
can be better controlled by utilizing preadmission testing. preadmission testing
can reduce the __
The policy is surrendered for less than what was paid into it - CORRECT
ANSWERS Taxable income may be the result from all these modified
endowment contract (MEC) transactions EXCEPT for
,Intentional, self-inflicted injuries that occur at the worksite - CORRECT
ANSWERS Which cause of disability is NOT covered under Arizona
workers compensation laws?
Self maintenance expenses - CORRECT ANSWERS Which of these
factors does NOT influence an applicant's need for life insurance?
100% - CORRECT ANSWERS John received a one-time distribution of
$50,000 from his modified endowment contract (MEC). Prior to that, the
contract's cash value was $150,000, the contract investment amount was
$100,000, and the death benefit was $500,000. What percentage of the $50,000
distribution was taxable as ordinary income?
Lender - CORRECT ANSWERS The death proceeds of a credit life
insurance policy are typically paid to the
The installment payment amount is determined by the total number of injuries -
CORRECT ANSWERS Which statement regarding a fixed period
settlement option is correct?
Cross purchase agreement - CORRECT ANSWERS Which of the
following disability buy-sell agreements is best suited for businesses with a
small number of partners?
Management - CORRECT ANSWERS Risk __ is the process of
analyzing exposures that create risk and designing programs to handle them
A cash benefit will be provided if the insured is alive at the end of the policy
period - CORRECT ANSWERS Which of these is NOT an advantage of
term life insurance?
, Life insurance - CORRECT ANSWERS Which of the following
financial products creates an instant estate, no matter when the date of death
excluded from the employee's gross income - CORRECT ANSWERS
Employer-paid qualified long-term care insurance premiums are typically
Marriage partners - CORRECT ANSWERS Which of the following
relationships demonstrates insurable interest in the absence of economic
interest?
Insurance company - CORRECT ANSWERS Who is protected with the
"other insurance with this insurer" provision?
Cost containment - CORRECT ANSWERS Reductions in coverage are
one feature of _______ in Health insurance policies.
Available to the policy owner when policy has been surrendered - CORRECT
ANSWERS Which statement regarding the cash value of a whole life
insurance policy is correct?
The stated person or entity who is designated to receive the death proceeds -
CORRECT ANSWERS Who is the beneficiary in a life insurance policy
Special Enrollment Period - CORRECT ANSWERS A loss of minimum
essential coverage usually counts as a qualifying event that triggers what?
Risk - CORRECT ANSWERS Which of the following can be defined as
a 'the potential for loss'
