Page 1 of 172
Arizona life and health insurance Exam WITH
QUESTIONS AND CORRECT DETAILED SOLUTIONS
LATEST UPDATED VERSION JUST RELEASED
Question: a terminated employee has how many days upon termination to convert group life
insurance coverage to an individual policy
10 days
15 days
30 days
31 days - ANSWER✔✔31 days
Question: Rick owns a variable universal life insurance policy and chooses a variable death
benefit option. what will typically happen to the death benefit as a result of this section
, Page 2 of 172
1. remain the same
2 decrease but never increase
3 increase but never decrease
4 fluctuate with changes in the cash amount - ANSWER✔✔fluctuate with changes in the cash
amount
Question: the policy provision that permits an employee to change from group life insurance to
an individual policy is called
1 assignment provision
2 conversion provision
, Page 3 of 172
3 certificate provision
4 modification provision - ANSWER✔✔conversion provision
Question: when the deferred annuity is surrendered, who must sign the authorization to do so
owner
annuitant and beneficiary
annuitant
all parties involved - ANSWER✔✔owner
Question: Which of the following is NOT a valid contract exchange?
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1. an annuity exchanged for a life insurance policy
2 an annuity exchanged for another annuity
3 a life insurance policy exchanged for another life insurance policy
4 a life insurance policy exchanged for another annuity - ANSWER✔✔an annuity exchanged for
a life insurance policy
Question: a whole life policy that provides a choice of dividend options include the following
statement about dividends
they accrue at a guaranteed rate
they are deferred for one year
Arizona life and health insurance Exam WITH
QUESTIONS AND CORRECT DETAILED SOLUTIONS
LATEST UPDATED VERSION JUST RELEASED
Question: a terminated employee has how many days upon termination to convert group life
insurance coverage to an individual policy
10 days
15 days
30 days
31 days - ANSWER✔✔31 days
Question: Rick owns a variable universal life insurance policy and chooses a variable death
benefit option. what will typically happen to the death benefit as a result of this section
, Page 2 of 172
1. remain the same
2 decrease but never increase
3 increase but never decrease
4 fluctuate with changes in the cash amount - ANSWER✔✔fluctuate with changes in the cash
amount
Question: the policy provision that permits an employee to change from group life insurance to
an individual policy is called
1 assignment provision
2 conversion provision
, Page 3 of 172
3 certificate provision
4 modification provision - ANSWER✔✔conversion provision
Question: when the deferred annuity is surrendered, who must sign the authorization to do so
owner
annuitant and beneficiary
annuitant
all parties involved - ANSWER✔✔owner
Question: Which of the following is NOT a valid contract exchange?
, Page 4 of 172
1. an annuity exchanged for a life insurance policy
2 an annuity exchanged for another annuity
3 a life insurance policy exchanged for another life insurance policy
4 a life insurance policy exchanged for another annuity - ANSWER✔✔an annuity exchanged for
a life insurance policy
Question: a whole life policy that provides a choice of dividend options include the following
statement about dividends
they accrue at a guaranteed rate
they are deferred for one year
