Arizona life and health final exam
The purpose of the 'No loss No Gain' provision is to avoid duplication of
and
when an individual is covered under multiple group health
insurance plans: correct answersBenfit payments and overinsurance
A life insurance policy can usually be contested by the insurer only during
the first
years of the contract correct answers2 years
After an annuity has been in force for years, it becomes incontestable
correct answers2 years
In long term care insurance, what is the length of time for which claims
will be paid correct answersBenefit period
After an insurance application has been originated, the producer
normally correct answersIs the major personal contact to the insured
What happens to a life insurance policy when the policy loan balance
exceeds the cash value correct answersPolicy will no longer be in force
The ACA must ensure a sufficient choice of in the marketplace
correct answersProviders
Which of the following statements BEST describes employer contributions
for employer provided health insurance correct answersEmployer
contributions are deductible
An annuity's accumulation period may correct answersContinue after
the purchase payments stop
Which of these is NOT an underwriting responsibility of a life insurance
agent correct answersDetermining the final rate classification
What happens to the death benefit of a life insurance policy if the insured
elects a partial payment from the accelerated (living) benefit provision
correct answersReduced
Mike applied for life insurance and was issued a conditional receipt. He is
later found to be insurable and is issued a policy. When does his coverage
become effective? correct answersDate of issuance of the conditional receipt
Which of the following actions may result in a producers license being
suspended? correct answersMisappropriation of premiums
, Which of the following is NOT covered by a comprehensive long term
care policy correct answersAcute Care
An insurer will typically assess a back end load on a deferred annuity that
is cancelled during the early contract years. What is this back end load
referred as? correct answersSurrender charge
The ACA established 'exchanges' in order to correct answersAssist
individuals and small businesses when making their health insurance
policies
which of the following entities does NOT establish regulations for variable
insurance products? correct answersState attorney general
According to the law of large numbers, how would losses be affected if the
number of similar insured units increased correct answersPredictability of
losses will be improved
What is considered a valid reason for an insurer's refusal to pay policy
proceeds directly to a minor correct answersMinors are normally not capable
of handling money in a reasonable manner
An insured is covered under a group long term disability policy. Under this
type of of policy, the definition of disability based on any occupation
typically applies correct answersAfter two years of disability
If a producer surrenders their license, how long must they wait to re apply
for the same license? correct answersOne year
What type of risk involves the potential for loss with no possibility of
gain correct answersPure risk
Medicare part A does NOT provide coverage for correct answersThe first
3 pints of blood
Which of the following best describes the presumptive disability
provision? correct answersWaives the typical total disability
requirements
Jim is covered under a disability income policy. He is hurt while engaging in
an occupation that is more hazardous than the occupation he specified in
the policy, what action will the insurer likely take correct answersReduce
the benefit level
Which statement concerning a decreasing term life policy is
accurate correct answersFace amount decreases over the policy
period
Which of the following is NOT a function of accident and health
insurance correct answersPays a death benefit as result of natural
causes
The purpose of the 'No loss No Gain' provision is to avoid duplication of
and
when an individual is covered under multiple group health
insurance plans: correct answersBenfit payments and overinsurance
A life insurance policy can usually be contested by the insurer only during
the first
years of the contract correct answers2 years
After an annuity has been in force for years, it becomes incontestable
correct answers2 years
In long term care insurance, what is the length of time for which claims
will be paid correct answersBenefit period
After an insurance application has been originated, the producer
normally correct answersIs the major personal contact to the insured
What happens to a life insurance policy when the policy loan balance
exceeds the cash value correct answersPolicy will no longer be in force
The ACA must ensure a sufficient choice of in the marketplace
correct answersProviders
Which of the following statements BEST describes employer contributions
for employer provided health insurance correct answersEmployer
contributions are deductible
An annuity's accumulation period may correct answersContinue after
the purchase payments stop
Which of these is NOT an underwriting responsibility of a life insurance
agent correct answersDetermining the final rate classification
What happens to the death benefit of a life insurance policy if the insured
elects a partial payment from the accelerated (living) benefit provision
correct answersReduced
Mike applied for life insurance and was issued a conditional receipt. He is
later found to be insurable and is issued a policy. When does his coverage
become effective? correct answersDate of issuance of the conditional receipt
Which of the following actions may result in a producers license being
suspended? correct answersMisappropriation of premiums
, Which of the following is NOT covered by a comprehensive long term
care policy correct answersAcute Care
An insurer will typically assess a back end load on a deferred annuity that
is cancelled during the early contract years. What is this back end load
referred as? correct answersSurrender charge
The ACA established 'exchanges' in order to correct answersAssist
individuals and small businesses when making their health insurance
policies
which of the following entities does NOT establish regulations for variable
insurance products? correct answersState attorney general
According to the law of large numbers, how would losses be affected if the
number of similar insured units increased correct answersPredictability of
losses will be improved
What is considered a valid reason for an insurer's refusal to pay policy
proceeds directly to a minor correct answersMinors are normally not capable
of handling money in a reasonable manner
An insured is covered under a group long term disability policy. Under this
type of of policy, the definition of disability based on any occupation
typically applies correct answersAfter two years of disability
If a producer surrenders their license, how long must they wait to re apply
for the same license? correct answersOne year
What type of risk involves the potential for loss with no possibility of
gain correct answersPure risk
Medicare part A does NOT provide coverage for correct answersThe first
3 pints of blood
Which of the following best describes the presumptive disability
provision? correct answersWaives the typical total disability
requirements
Jim is covered under a disability income policy. He is hurt while engaging in
an occupation that is more hazardous than the occupation he specified in
the policy, what action will the insurer likely take correct answersReduce
the benefit level
Which statement concerning a decreasing term life policy is
accurate correct answersFace amount decreases over the policy
period
Which of the following is NOT a function of accident and health
insurance correct answersPays a death benefit as result of natural
causes
