Arizona life and health insurance exam with accurate detailed || || || || || || || || ||
answers
When the disclosure of an insured's nonpublic information is involved, what is the insurer
|| || || || || || || || || || || || || ||
obligated to do? - ✔✔Give notice, explain, and allow opting out|| || || || || || || || || ||
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ✔✔9:00
|| || || || || || || || || || || || || ||
PM
A health plan offered by private insurance companies is - ✔✔Medicare Supplement
|| || || || || || || || || || ||
Chris has a single major medical contract which covers all medical expenses. His plan is
|| || || || || || || || || || || || || || ||
considered to be - ✔✔comprehensive || || || ||
In accident and health insurance, 60 days must pass after written proof of loss has been received
|| || || || || || || || || || || || || || || || ||
by an insurer before the insured may - ✔✔Bring 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 - ✔✔Ten year term insurance for a person aged 55
|| || || || || || || || || || || || || || || ||
All of the following are unfair claims settlement practices except - ✔✔An attempt to settle a
|| || || || || || || || || || || || || || || ||
claim by arbitration || ||
What is covered under a limited accident and health insurance policy? - ✔✔Limited perils and
|| || || || || || || || || || || || || || ||
amounts
A life insurance policy provision that has the ability to reduce the death benefit is called -
|| || || || || || || || || || || || || || || || ||
✔✔Accelerated (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 -
|| || || || || || || || || || || || || || || || ||
✔✔Written proof of the occurrence and extent of loss || || || || || || || ||
How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)? -
|| || || || || || || || || || || || || || ||
✔✔Taxed as ordinary income in the year received || || || || || || ||
How does a continuous premium whole life policy differ from a limited payment whole life
|| || || || || || || || || || || || || || ||
policy? - ✔✔The 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? - ✔✔A 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? - ✔✔When not prohibited by state law || || || || || || ||
A material change in a modified endowment contract (MEC) results in - ✔✔the 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? - ✔✔The 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 - ✔✔custodial care
|| || || || || || || || || || || ||
Employer-paid qualified long-term care insurance premiums are typically - ✔✔Excluded from || || || || || || || || || || ||
the employee's gross income.
|| || ||
, Which statement regarding the certificate of insurance is accurate? - ✔✔Indicates evidence of an
|| || || || || || || || || || || || || ||
employee's insurance coverage || ||
Purchasing insurance is an example of risk - ✔✔transference || || || || || || || ||
When an applicant applies for a large amount of life insurance coverage, which of the following
|| || || || || || || || || || || || || || || ||
would likely NOT be an underwriting requirement? - ✔✔eye 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 - ✔✔Experimental and investigative services
|| || || || || || || || || ||
All of these statements concerning group credit life insurance are false EXCEPT - ✔✔The face
|| || || || || || || || || || || || || || ||
amount is determined by the outstanding loan balance
|| || || || || || ||
Who may terminate coverage under and cancelable health insurance policy? - ✔✔insurer or
|| || || || || || || || || || || || ||
insured
The interest credited to the cash values of personally-owned non-qualified annuities is considered
|| || || || || || || || || || || || ||
- ✔✔tax deferred
|| ||
An insurer that confines or largely limits the exposures it writes to those of its owners is called -
|| || || || || || || || || || || || || || || || || || ||
✔✔captive
Dividends from a mutual insurance company are paid to whom? - ✔✔Policyholders
|| || || || || || || || || || ||
A business may purchase an annuity for all of the following reasons EXCEPT - ✔✔Informally
|| || || || || || || || || || || || || || ||
finding a non-qualified deferred compensation plan
|| || || || ||
answers
When the disclosure of an insured's nonpublic information is involved, what is the insurer
|| || || || || || || || || || || || || ||
obligated to do? - ✔✔Give notice, explain, and allow opting out|| || || || || || || || || ||
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ✔✔9:00
|| || || || || || || || || || || || || ||
PM
A health plan offered by private insurance companies is - ✔✔Medicare Supplement
|| || || || || || || || || || ||
Chris has a single major medical contract which covers all medical expenses. His plan is
|| || || || || || || || || || || || || || ||
considered to be - ✔✔comprehensive || || || ||
In accident and health insurance, 60 days must pass after written proof of loss has been received
|| || || || || || || || || || || || || || || || ||
by an insurer before the insured may - ✔✔Bring 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 - ✔✔Ten year term insurance for a person aged 55
|| || || || || || || || || || || || || || || ||
All of the following are unfair claims settlement practices except - ✔✔An attempt to settle a
|| || || || || || || || || || || || || || || ||
claim by arbitration || ||
What is covered under a limited accident and health insurance policy? - ✔✔Limited perils and
|| || || || || || || || || || || || || || ||
amounts
A life insurance policy provision that has the ability to reduce the death benefit is called -
|| || || || || || || || || || || || || || || || ||
✔✔Accelerated (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 -
|| || || || || || || || || || || || || || || || ||
✔✔Written proof of the occurrence and extent of loss || || || || || || || ||
How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)? -
|| || || || || || || || || || || || || || ||
✔✔Taxed as ordinary income in the year received || || || || || || ||
How does a continuous premium whole life policy differ from a limited payment whole life
|| || || || || || || || || || || || || || ||
policy? - ✔✔The 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? - ✔✔A 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? - ✔✔When not prohibited by state law || || || || || || ||
A material change in a modified endowment contract (MEC) results in - ✔✔the 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? - ✔✔The 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 - ✔✔custodial care
|| || || || || || || || || || || ||
Employer-paid qualified long-term care insurance premiums are typically - ✔✔Excluded from || || || || || || || || || || ||
the employee's gross income.
|| || ||
, Which statement regarding the certificate of insurance is accurate? - ✔✔Indicates evidence of an
|| || || || || || || || || || || || || ||
employee's insurance coverage || ||
Purchasing insurance is an example of risk - ✔✔transference || || || || || || || ||
When an applicant applies for a large amount of life insurance coverage, which of the following
|| || || || || || || || || || || || || || || ||
would likely NOT be an underwriting requirement? - ✔✔eye 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 - ✔✔Experimental and investigative services
|| || || || || || || || || ||
All of these statements concerning group credit life insurance are false EXCEPT - ✔✔The face
|| || || || || || || || || || || || || || ||
amount is determined by the outstanding loan balance
|| || || || || || ||
Who may terminate coverage under and cancelable health insurance policy? - ✔✔insurer or
|| || || || || || || || || || || || ||
insured
The interest credited to the cash values of personally-owned non-qualified annuities is considered
|| || || || || || || || || || || || ||
- ✔✔tax deferred
|| ||
An insurer that confines or largely limits the exposures it writes to those of its owners is called -
|| || || || || || || || || || || || || || || || || || ||
✔✔captive
Dividends from a mutual insurance company are paid to whom? - ✔✔Policyholders
|| || || || || || || || || || ||
A business may purchase an annuity for all of the following reasons EXCEPT - ✔✔Informally
|| || || || || || || || || || || || || || ||
finding a non-qualified deferred compensation plan
|| || || || ||
