INSURANCE EXAM AZ #1333 (ACTUAL)
Which type of deductible must be satisfied again for each illness or accident in a
major medical plan? - ANSWERS-per-cause
all of these statements concerning group credit life insurance are false except -
ANSWERS-the face amount is based on the outstanding loan balance
in a disability buy-sell agreement, the policies funding the agreement are owned
by there - ANSWERS-business entity
which of the following best describes a point-of-service (POS) plan? - ANSWERS-a
plan which combines indemnity plan features with those of an HMO
The Arizona Life and Disability Insurance Guaranty Fund protects an insured in the
event of - ANSWERS-in insurers insolvency
the surrender charge on many deferred annuity contracts are waived when the -
ANSWERS-annuitant dies or becomes disabled
which of the following may be considered an act of misrepresentation? -
ANSWERS-misleading or failing to adequately disclose the title and true nature of
a policy offered to a client
,insurable interest in one's own life is legally considered as - ANSWERS-generally
unlimited
if a life insurance applicant is shown future premiums are to be paid out of non-
guaranteed values, the illustration used in the sales presentation MUST -
ANSWERS-disclose that the premium payments may need to be resumed
depending on actual results
telemarketing calls may only be received between the hours of - ANSWERS-8-9
which of the following is NOT a reason the government provides insurance? -
ANSWERS-reduce fraudulent claims
bathing, eating and transferring are all types of - ANSWERS-activities of daily living
according to ERISA regulations, a summary plan description must be provided to a
new plan member within _____ days of the member's eligibility date. - ANSWERS-
90
An insurer must keep advertising materials and records for at least how many
years? - ANSWERS-3
The insurance coverage in a variable life insurance policy may vary based on the
value of - ANSWERS-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? - ANSWERS-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 -
ANSWERS-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? - ANSWERS-
Misstatement of age
Which of the following would most likely purchase an immediate annuity? -
ANSWERS-Retiree having a lump sum to invest.
A signed good health statement may be requested by a life producer at the time
of - ANSWERS-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? -
ANSWERS-A: 4,000 B: 2,000
Which of the following is NOT a valid contract age? - ANSWERS-An annuity
exchanged for a life insurance policy.
Which type of deductible must be satisfied again for each illness or accident in a
major medical plan? - ANSWERS-per-cause
all of these statements concerning group credit life insurance are false except -
ANSWERS-the face amount is based on the outstanding loan balance
in a disability buy-sell agreement, the policies funding the agreement are owned
by there - ANSWERS-business entity
which of the following best describes a point-of-service (POS) plan? - ANSWERS-a
plan which combines indemnity plan features with those of an HMO
The Arizona Life and Disability Insurance Guaranty Fund protects an insured in the
event of - ANSWERS-in insurers insolvency
the surrender charge on many deferred annuity contracts are waived when the -
ANSWERS-annuitant dies or becomes disabled
which of the following may be considered an act of misrepresentation? -
ANSWERS-misleading or failing to adequately disclose the title and true nature of
a policy offered to a client
,insurable interest in one's own life is legally considered as - ANSWERS-generally
unlimited
if a life insurance applicant is shown future premiums are to be paid out of non-
guaranteed values, the illustration used in the sales presentation MUST -
ANSWERS-disclose that the premium payments may need to be resumed
depending on actual results
telemarketing calls may only be received between the hours of - ANSWERS-8-9
which of the following is NOT a reason the government provides insurance? -
ANSWERS-reduce fraudulent claims
bathing, eating and transferring are all types of - ANSWERS-activities of daily living
according to ERISA regulations, a summary plan description must be provided to a
new plan member within _____ days of the member's eligibility date. - ANSWERS-
90
An insurer must keep advertising materials and records for at least how many
years? - ANSWERS-3
The insurance coverage in a variable life insurance policy may vary based on the
value of - ANSWERS-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? - ANSWERS-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 -
ANSWERS-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? - ANSWERS-
Misstatement of age
Which of the following would most likely purchase an immediate annuity? -
ANSWERS-Retiree having a lump sum to invest.
A signed good health statement may be requested by a life producer at the time
of - ANSWERS-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? -
ANSWERS-A: 4,000 B: 2,000
Which of the following is NOT a valid contract age? - ANSWERS-An annuity
exchanged for a life insurance policy.
