XCEL Arizona Life and Health Insurance State
Exam/ 200+ Quizzes with Certified Ans/ 2024-
2025.
A policyowner with a terminal illness who sells his life insurance policy to a third
party is called a - Answer: viator
What is a juvenile life insurance policy? - Answer: A life policy that covers the life
of a minor
ABC Partnership is a business with a limited number of partners. Which disability
buy-sell agreement is best suited for this business? - Answer: Cross purchase
agreement
Page 1 of 28
,Which of the following involves sharing an uncertain risk with another similar
group? - Answer: Transfer
The time limit an individual has to "rollover" funds from an IRA or qualified plan is
- Answer: 60 days
A life annuity with period certain is characterized as - Answer: guaranteeing
benefit payments for a stated minimum number of years
James owns a business and purchased a policy that covers the business expense
of finding a permanent or temporary employee to replace a disabled one. This
type of disability coverage is called - Answer: Key employee coverage
Kelly purchases a health insurance policy issued on a conditionally renewable
basis. The insurance company has a right to refuse renewal of the policy for -
Answer: specific reasons stated in the contract
Who is the beneficiary in a life insurance policy? - Answer: The stated person or
entity who is designated to receive the death proceeds
The guarantee of insurability option provides a long-term care policyowner the
ability to - Answer: buy additional coverage at a later date
Most prepaid dental plans cover - Answer: Oral examinations
Page 2 of 28
, A policyowner fell behind on the premium payments of a whole life policy and is
now in the grace period. How much will the beneficiary receive if the insured dies
during this grace period and the policy also contains an outstanding policy loan? -
Answer: Face amount minus the loan balance and past-due premium
In regards to the Affordable Care Act (ACA), which of these is NOT a role of a
health insurance exchange? - Answer: Contact the employer if an employee stops
coverage under a plan offered in the exchange
An insurer must keep advertising materials and records for at least how many
years? - Answer: 3 years
A consumer who has been recently denied insurance, credit, or employment
based on an unfavorable consumer report MUST be advised as such. Which of the
following does this statute originate from? - Answer: Fair Credit Reporting Act
The disability income policy most likely to have been issued on a substandard
basis is - Answer: Non-cancelable with a health condition exclusion rider
Which of the following situations would a medical exam NOT be required for an
individual health insurance applicant? - Answer: Applicant's family members have
a history of cancer
A Medicare Supplement policy is required to do which of the following? - Answer:
Provide a 30 day free-look period
Page 3 of 28
Exam/ 200+ Quizzes with Certified Ans/ 2024-
2025.
A policyowner with a terminal illness who sells his life insurance policy to a third
party is called a - Answer: viator
What is a juvenile life insurance policy? - Answer: A life policy that covers the life
of a minor
ABC Partnership is a business with a limited number of partners. Which disability
buy-sell agreement is best suited for this business? - Answer: Cross purchase
agreement
Page 1 of 28
,Which of the following involves sharing an uncertain risk with another similar
group? - Answer: Transfer
The time limit an individual has to "rollover" funds from an IRA or qualified plan is
- Answer: 60 days
A life annuity with period certain is characterized as - Answer: guaranteeing
benefit payments for a stated minimum number of years
James owns a business and purchased a policy that covers the business expense
of finding a permanent or temporary employee to replace a disabled one. This
type of disability coverage is called - Answer: Key employee coverage
Kelly purchases a health insurance policy issued on a conditionally renewable
basis. The insurance company has a right to refuse renewal of the policy for -
Answer: specific reasons stated in the contract
Who is the beneficiary in a life insurance policy? - Answer: The stated person or
entity who is designated to receive the death proceeds
The guarantee of insurability option provides a long-term care policyowner the
ability to - Answer: buy additional coverage at a later date
Most prepaid dental plans cover - Answer: Oral examinations
Page 2 of 28
, A policyowner fell behind on the premium payments of a whole life policy and is
now in the grace period. How much will the beneficiary receive if the insured dies
during this grace period and the policy also contains an outstanding policy loan? -
Answer: Face amount minus the loan balance and past-due premium
In regards to the Affordable Care Act (ACA), which of these is NOT a role of a
health insurance exchange? - Answer: Contact the employer if an employee stops
coverage under a plan offered in the exchange
An insurer must keep advertising materials and records for at least how many
years? - Answer: 3 years
A consumer who has been recently denied insurance, credit, or employment
based on an unfavorable consumer report MUST be advised as such. Which of the
following does this statute originate from? - Answer: Fair Credit Reporting Act
The disability income policy most likely to have been issued on a substandard
basis is - Answer: Non-cancelable with a health condition exclusion rider
Which of the following situations would a medical exam NOT be required for an
individual health insurance applicant? - Answer: Applicant's family members have
a history of cancer
A Medicare Supplement policy is required to do which of the following? - Answer:
Provide a 30 day free-look period
Page 3 of 28
