XCEL Arizona Life and Health Insurance State Exam
Study online at https://quizlet.com/_edvvvu
1. Under a long-term care inflation rider, the benefit lev- periodically increase with-
els out proof of insurability
2. In order for a health plan to be an "accountable health the director
plan", who has to approve it?
3. Medicare Part A coinsurance payments are covered by Medicare Supplement
Plan A
4. Employees generally receive workers compensation lost wages and medical
benefits for expenses due to occupa-
tional accidents
5. What year was the Mental Health Parity and Addiction 2008
Equity Act established?
6. In what situation would disability income insurance Corporation paying for
premiums be a deductible expense? group disability income
coverage for its employees
7. John received a one-time distribution of $50,000 from 100%
his modified endowment contract (MEC). Prior to that,
the contract's cash value was $150,000, the contract
investment amount was $100,000, and the death ben-
efit was $500,000. What percentage of the $50,000
distribution was taxable as ordinary income?
8. A survivorship life insurance policy usually covers how 2
many lives?
9. Mentally or physically handicapped dependent chil- until they become
dren MUST be covered under an individual health in- self-supportive
surance policy
, XCEL Arizona Life and Health Insurance State Exam
Study online at https://quizlet.com/_edvvvu
10. ERISA requires that a Summary Plan Description must 90 days
be provided to a new plan member within how many
days following the new member's eligibility date?
11. A policyowner suffers an injury that renders him in- Partial disability
capable of performing one or more important job
duties. Any decrease in income resulting from this in-
jury would make him eligible for benefits under which
provision?
12. What is the maximum number of employees (earning 100 employees
at least $5,000) that an employer can have in order to
start a SIMPLE retirement plan?
13. Which of the following health plans pay benefits on a HMO
pre-paid service basis?
14. An individual may receive Medicare Part A Hospital Social Security Disability
benefits, regardless of age, as long as the person has
received which of the following benefits for at least 24
months?
15. Which of the co-annuitants listed below would receive Ages 71 and 73
the largest monthly benefit payments in a joint and
100% survivor annuity?
16. Kevin has an existing life insurance policy and assigns As a Section 1035 ex-
it to another insurer for a new contract. How would change
this transaction be treated for tax purposes?
17. Karen is considering replacing her individual accident May reduce her benefits
and health insurance policy with another individual
policy. She has had issues in the past with her gall
, XCEL Arizona Life and Health Insurance State Exam
Study online at https://quizlet.com/_edvvvu
bladder that would be considered a pre-existing con-
dition. How will a pre-existing conditions exclusion
affect Karen's new insurance contract?
18. Greg had recently been terminated from his job that 31 days
covered him for group life insurance. How long does
he have to convert his coverage to an individual poli-
cy?
19. A policyowner with a terminal illness who sells his life viator
insurance policy to a third party is called a
20. What is a juvenile life insurance policy? A life policy that covers the
life of a minor
21. ABC Partnership is a business with a limited num- Cross purchase agree-
ber of partners. Which disability buy-sell agreement is ment
best suited for this business?
22. Which of the following involves sharing an uncertain Transfer
risk with another similar group?
23. The time limit an individual has to "rollover" funds 60 days
from an IRA or qualified plan is
24. A life annuity with period certain is characterized as guaranteeing benefit pay-
ments for a stated mini-
mum number of years
25. James owns a business and purchased a policy that Key employee coverage
covers the business expense of finding a permanent
or temporary employee to replace a disabled one. This
type of disability coverage is called
Study online at https://quizlet.com/_edvvvu
1. Under a long-term care inflation rider, the benefit lev- periodically increase with-
els out proof of insurability
2. In order for a health plan to be an "accountable health the director
plan", who has to approve it?
3. Medicare Part A coinsurance payments are covered by Medicare Supplement
Plan A
4. Employees generally receive workers compensation lost wages and medical
benefits for expenses due to occupa-
tional accidents
5. What year was the Mental Health Parity and Addiction 2008
Equity Act established?
6. In what situation would disability income insurance Corporation paying for
premiums be a deductible expense? group disability income
coverage for its employees
7. John received a one-time distribution of $50,000 from 100%
his modified endowment contract (MEC). Prior to that,
the contract's cash value was $150,000, the contract
investment amount was $100,000, and the death ben-
efit was $500,000. What percentage of the $50,000
distribution was taxable as ordinary income?
8. A survivorship life insurance policy usually covers how 2
many lives?
9. Mentally or physically handicapped dependent chil- until they become
dren MUST be covered under an individual health in- self-supportive
surance policy
, XCEL Arizona Life and Health Insurance State Exam
Study online at https://quizlet.com/_edvvvu
10. ERISA requires that a Summary Plan Description must 90 days
be provided to a new plan member within how many
days following the new member's eligibility date?
11. A policyowner suffers an injury that renders him in- Partial disability
capable of performing one or more important job
duties. Any decrease in income resulting from this in-
jury would make him eligible for benefits under which
provision?
12. What is the maximum number of employees (earning 100 employees
at least $5,000) that an employer can have in order to
start a SIMPLE retirement plan?
13. Which of the following health plans pay benefits on a HMO
pre-paid service basis?
14. An individual may receive Medicare Part A Hospital Social Security Disability
benefits, regardless of age, as long as the person has
received which of the following benefits for at least 24
months?
15. Which of the co-annuitants listed below would receive Ages 71 and 73
the largest monthly benefit payments in a joint and
100% survivor annuity?
16. Kevin has an existing life insurance policy and assigns As a Section 1035 ex-
it to another insurer for a new contract. How would change
this transaction be treated for tax purposes?
17. Karen is considering replacing her individual accident May reduce her benefits
and health insurance policy with another individual
policy. She has had issues in the past with her gall
, XCEL Arizona Life and Health Insurance State Exam
Study online at https://quizlet.com/_edvvvu
bladder that would be considered a pre-existing con-
dition. How will a pre-existing conditions exclusion
affect Karen's new insurance contract?
18. Greg had recently been terminated from his job that 31 days
covered him for group life insurance. How long does
he have to convert his coverage to an individual poli-
cy?
19. A policyowner with a terminal illness who sells his life viator
insurance policy to a third party is called a
20. What is a juvenile life insurance policy? A life policy that covers the
life of a minor
21. ABC Partnership is a business with a limited num- Cross purchase agree-
ber of partners. Which disability buy-sell agreement is ment
best suited for this business?
22. Which of the following involves sharing an uncertain Transfer
risk with another similar group?
23. The time limit an individual has to "rollover" funds 60 days
from an IRA or qualified plan is
24. A life annuity with period certain is characterized as guaranteeing benefit pay-
ments for a stated mini-
mum number of years
25. James owns a business and purchased a policy that Key employee coverage
covers the business expense of finding a permanent
or temporary employee to replace a disabled one. This
type of disability coverage is called
