Insurance Exam AZ #1333 Questions And Answers. Verified And Updated.

Insurance Exam AZ #1333 Questions And Answers. Verified And Updated. An insurer must keep advertising materials and records for at least how many years? - answer3 The insurance coverage in a variable life insurance policy may vary based on the value of - answerthe 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? - answerIf 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 - answerProsthodontics 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? - answerMisstatement of age Which of the following would most likely purchase an immediate annuity? - answerRetiree having a lump sum to invest. A signed good health statement may be requested by a life producer at the time of - answerPolicy 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? - answerA: 4,000 B: 2,000 Which of the following is NOT a valid contract age? - answerAn 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? - answerNoncancelable 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? - answerSurrender charge What is considered a valid reason for small corporations to insure the lives of its major stockholders? - answerFund a buy-sell agreement EXAM STUDY MATERIALS July 25, 2024 1:06 PM The insured's consideration given for a health insurance policy is - answerthe 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 - answerexperimental 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 - answerperform 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) - answerpre-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? - answer31 How are benefit payments from individually-owned medical expense policies treated for tax purposes? - answerexempt 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? - answerguaranteed insurability rider XYZ Corp gives money to an employee to purchase a life insurance policy and allows the employee to select the beneficiary. What kind of plan is this? - answerSplit-dollar A life insurance policy provision that has the ability to reduce the death benefit is called the - answeraccelerated (living) benefit A group health certificate for coverage issued in Arizona MUST contain a - answersummary of policy features and benefits What is considered a valid reason for an insurer's refusal to pay policy proceeds directly to a minor? - answerminors are normally not capable of handling money in a reasonable manner If an insured legally adopts a baby within ____ months of birth, the maternity coverage for the child's birth is covered. - answer12 In an individual retirement account (IRA), rollover contributions are - answerunlimited by dollar amount which of the following is excluded in a medical expense plan? - answermilitary duty what is the eligibility requirement for Medicare Pa