Arizona Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A

Arizona Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which statement concerning the Entire Contact provision in an individual accident and health insurance policy is TRUE? Answer: The agent doesn't have the authority to change the policy or waive its provisions Q: Under the Fair Credit Reporting Act, which statement is true? Answer: The consumer who was investigated must be advised that credit, insurance, or employment was denied because of an unfavorable report. Q: Field underwriting by a producer? Answer: May result in the disclosure of hazardous activity of the applicant. Q: When group benefits under COBRA have expired, a fully insured group policy can be converted to a(n) Answer: Individual health policy Q: In a qualified retirement plan, the yearly contributions to an employee's account? Answer: Are restricted to maximum limits set by the IRS Q: The unwritten authority given to a producer to carry out necessary incidental acts of the agency agreement is called? Answer: Implied authority Q: Which provision makes the application part of the annuity contract? Answer: Entire Contract clause Q: Arizona Law require the Human Immunodeficiency Virus (HIV) consent form to? Answer: Disclose the types of individuals or organizations that may receive a copy of the test results Q: Under which marketing system do insurers solicit customers by mass media advertising and mail without their services of an agent? Answer: Direct Response Q: A policy owner has just borrowed from a life insurance policy's cash value. Which of these statements is true? Answer: In the event of death, the loan amount is deducted from the policy proceeds Q: According to federal fraud and false statement regulation, what is required for a prohibited person to transact insurance business in this state? Answer: Written consent from the state insurance regulatory agency Q: Employer-paid qualifies long-term care insurance premiums are typically? Answer: Excluded from the employee's gross income Q: When replacing a life insurance policy, which of the following is advisable? Answer: Wait until the new policy Is issued and deliver before surrendering existing policy Q: Which of these may NOT be deducted from premium payments or the cash value of a variable life insurance policy? Answer: Federal premium taxes Q: A policy owner pays the first annual premium for a $50,000 Life Insurance policy and dies one month after the policy effective fate. Which of these statements is normally true? Answer: Beneficiary receives $50,000 income tax-free Q: A life policy that has premiums that are lower than normal during the early years is called? Answer: Modified Life Q: Which life insurance settlement option pays a stated monthly benefit until both principal and interest are exhausted? Answer: Fixed amount installment option Q: What type of doctor-ordered care assists an individual with performing basic daily activists such as bathing, dressing, eating? Answer: Custodial Care Q: Which of these occurrences could improve an insurer's ability to reduce premiums? Answer: Rate of earnings on investments increase Q: An insured covered under a Disability Income policy is disabled and collecting benefits for a period of two months. He returns to work and is again disabled from the same cause, whereupon benefits continue to be paid. This is an example of which of the following? Answer: Recurrent disability