Insurance Exam AZ #1333 Solutions Rated A

Insurance Exam AZ #1333 Solutions Rated A An insurer must keep advertising materials and records for at least how many years? 3 The insurance coverage in a variable life insurance policy may vary based on the value of 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? 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 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? Misstatement of age Which of the following would most likely purchase an immediate annuity? Retiree having a lump sum to invest. A signed good health statement may be requested by a life producer at the time of 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? A: 4,000 B: 2,000 Which of the following is NOT a valid contract age? 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? 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? Surrender charge What is considered a valid reason for small corporations to insure the lives of its major stockholders? Fund a buy-sell agreement The insured's consideration given for a health insurance policy is 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 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 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) 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? 31 How are benefit payments from individually-owned medical expense policies treated for tax purposes? exempt from income taxes Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability what kind of rider is this? guaranteed insurability rider XYZ Corp gives money to an employee to purchase a life insurance policy and allows the employee to