Arizona life and health insurance exam
When the disclosure of an insured's nonpublic information is involved,
what is the insurer obligated to do? correct answersGive notice,
explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be
received after correct answers9:00 PM
A health plan offered by private insurance companies is correct
answersMedicare Supplement
Chris has a single major medical contract which covers all medical
expenses. His plan is considered to be correct answerscomprehensive
In accident and health insurance, 60 days must pass after written proof of
loss has been received by an insurer before the insured may correct
answersBring legal action against the insurer
When a ten year renewable term life insurance policy issued at age 45 is
renewed, the premium rate will be the current rate for correct answersTen
year term insurance for a person aged 55
All of the following are unfair claims settlement practices except correct
answersAn attempt to settle a claim by arbitration
What is covered under a limited accident and health insurance
policy? correct answersLimited perils and amounts
A life insurance policy provision that has the ability to reduce the death
benefit is called correct answersAccelerated (living) benefit
If an accident and health insurance claim form is NOT supplied to the insured
within 15 says after the notice of claim, the insured may comply with the
proof of loss provision by submitting correct answersWritten proof of the
occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax
sheltered annuity (TSA)? correct answersTaxed as ordinary income in the
year received
How does a continuous premium whole life policy differ from a limited
payment whole life policy? correct answersThe time period in which
premiums will be paid
,Which of these is an accurate statement regarding the fixed period
settlement option on a life insurance policy? correct answersA portion of the
payments paid to the beneficiary comes from interest calculated on the
proceeds of the policy
Under what circumstance does an accident and health insurer have the right
to request an autopsy? correct answersWhen not prohibited by state law
A material change in a modified endowment contract (MEC) results
in correct answersthe seven pay test, adjusted for cash value,
being applied again
Under an adjustable life insurance policy, which of the following may NOT
be changed without further underwriting? correct answersThe person
insured
Linda is covered with long-term care insurance and has early-stage
Alzheimer's. She is still able to reside in her home while receiving primary
care, as opposed to moving into a nursing home. All of the following long-
term benefits encourage this EXCEPT for correct answerscustodial care
Employer-paid qualified long-term care insurance premiums are
typically correct answersExcluded from the employee's gross income.
Which statement regarding the certificate of insurance is
accurate? correct answersIndicates evidence of an employee's
insurance coverage
Purchasing insurance is an example of risk correct
answerstransference
When an applicant applies for a large amount of life insurance coverage,
which of the following would likely NOT be an underwriting requirement?
correct answerseye examination
A comprehensive major medical health insurance policy contains an
eligible expenses provision which identifies the type of health care services
that are covered. All of the following health care services are typical
covered EXCEPT for correct answersExperimental and investigative services
All of these statements concerning group credit life insurance are false
EXCEPT correct answersThe face amount is determined by the outstanding
loan balance
Who may terminate coverage under and cancelable health insurance
policy? correct answersinsurer or insured
The interest credited to the cash values of personally-owned non-qualified
annuities is considered correct answerstax deferred
An insurer that confines or largely limits the exposures it writes to those of
its owners is called correct answerscaptive
, Dividends from a mutual insurance company are paid to
whom? correct answersPolicyholders
A business may purchase an annuity for all of the following reasons
EXCEPT correct answersInformally finding a non-qualified deferred
compensation plan
An organization that requires healthcare services to be provided by a
network of physicians and hospitals is known as an correct
answersHMO
In Arizona, and insurer providing small employer group medical plans may
discontinue an employers coverage if correct answersThe insurer no longer
offers the plan to any employer
Which of the following statements is NOT true concerning the relationship
between group health insurance plans and Medicare? (Assuming the
business has more than 20 employees) correct answersGroup health
coverage is NOT available for workers over the age of 65
hold harmless clause is an example of risk correct answersto transfer. Shifts
liability for loss from one party to another
What is a "functional assessment" for long-term care benefits? correct
answersA review of the insured ability to perform the activities of daily living
Which is an accurate description of the premium in a graded premium life
insurance policy? correct answersAnnual increases in premium for a stated
number of years then levels off for the remainder of the contract
Which of the following BEST describes a "partial disability" correct
answersUnable to perform one or more job duties
An insured may be required to sign which document at policy delivery to
ensure there has not been any adverse medical conditions since the time of
the application? correct answersA good health statement
The Arizona Life and Disability Insurance Guaranty Fund protects an
insured in the event of correct answersThe insurers insolvency
After an applicant reads and signs an insurance application, he/she
should be conscious of the fact that correct answersa false statement
could lead to loss of coverage
How many days notice does the Affordable Care Act require insurers to
give before rescinding coverage? correct answers30
When the disclosure of an insured's nonpublic information is involved,
what is the insurer obligated to do? correct answersGive notice,
explain, and allow opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be
received after correct answers9:00 PM
A health plan offered by private insurance companies is correct
answersMedicare Supplement
Chris has a single major medical contract which covers all medical
expenses. His plan is considered to be correct answerscomprehensive
In accident and health insurance, 60 days must pass after written proof of
loss has been received by an insurer before the insured may correct
answersBring legal action against the insurer
When a ten year renewable term life insurance policy issued at age 45 is
renewed, the premium rate will be the current rate for correct answersTen
year term insurance for a person aged 55
All of the following are unfair claims settlement practices except correct
answersAn attempt to settle a claim by arbitration
What is covered under a limited accident and health insurance
policy? correct answersLimited perils and amounts
A life insurance policy provision that has the ability to reduce the death
benefit is called correct answersAccelerated (living) benefit
If an accident and health insurance claim form is NOT supplied to the insured
within 15 says after the notice of claim, the insured may comply with the
proof of loss provision by submitting correct answersWritten proof of the
occurrence and extent of loss
How are monthly life annuity benefit payments treated under a tax
sheltered annuity (TSA)? correct answersTaxed as ordinary income in the
year received
How does a continuous premium whole life policy differ from a limited
payment whole life policy? correct answersThe time period in which
premiums will be paid
,Which of these is an accurate statement regarding the fixed period
settlement option on a life insurance policy? correct answersA portion of the
payments paid to the beneficiary comes from interest calculated on the
proceeds of the policy
Under what circumstance does an accident and health insurer have the right
to request an autopsy? correct answersWhen not prohibited by state law
A material change in a modified endowment contract (MEC) results
in correct answersthe seven pay test, adjusted for cash value,
being applied again
Under an adjustable life insurance policy, which of the following may NOT
be changed without further underwriting? correct answersThe person
insured
Linda is covered with long-term care insurance and has early-stage
Alzheimer's. She is still able to reside in her home while receiving primary
care, as opposed to moving into a nursing home. All of the following long-
term benefits encourage this EXCEPT for correct answerscustodial care
Employer-paid qualified long-term care insurance premiums are
typically correct answersExcluded from the employee's gross income.
Which statement regarding the certificate of insurance is
accurate? correct answersIndicates evidence of an employee's
insurance coverage
Purchasing insurance is an example of risk correct
answerstransference
When an applicant applies for a large amount of life insurance coverage,
which of the following would likely NOT be an underwriting requirement?
correct answerseye examination
A comprehensive major medical health insurance policy contains an
eligible expenses provision which identifies the type of health care services
that are covered. All of the following health care services are typical
covered EXCEPT for correct answersExperimental and investigative services
All of these statements concerning group credit life insurance are false
EXCEPT correct answersThe face amount is determined by the outstanding
loan balance
Who may terminate coverage under and cancelable health insurance
policy? correct answersinsurer or insured
The interest credited to the cash values of personally-owned non-qualified
annuities is considered correct answerstax deferred
An insurer that confines or largely limits the exposures it writes to those of
its owners is called correct answerscaptive
, Dividends from a mutual insurance company are paid to
whom? correct answersPolicyholders
A business may purchase an annuity for all of the following reasons
EXCEPT correct answersInformally finding a non-qualified deferred
compensation plan
An organization that requires healthcare services to be provided by a
network of physicians and hospitals is known as an correct
answersHMO
In Arizona, and insurer providing small employer group medical plans may
discontinue an employers coverage if correct answersThe insurer no longer
offers the plan to any employer
Which of the following statements is NOT true concerning the relationship
between group health insurance plans and Medicare? (Assuming the
business has more than 20 employees) correct answersGroup health
coverage is NOT available for workers over the age of 65
hold harmless clause is an example of risk correct answersto transfer. Shifts
liability for loss from one party to another
What is a "functional assessment" for long-term care benefits? correct
answersA review of the insured ability to perform the activities of daily living
Which is an accurate description of the premium in a graded premium life
insurance policy? correct answersAnnual increases in premium for a stated
number of years then levels off for the remainder of the contract
Which of the following BEST describes a "partial disability" correct
answersUnable to perform one or more job duties
An insured may be required to sign which document at policy delivery to
ensure there has not been any adverse medical conditions since the time of
the application? correct answersA good health statement
The Arizona Life and Disability Insurance Guaranty Fund protects an
insured in the event of correct answersThe insurers insolvency
After an applicant reads and signs an insurance application, he/she
should be conscious of the fact that correct answersa false statement
could lead to loss of coverage
How many days notice does the Affordable Care Act require insurers to
give before rescinding coverage? correct answers30
