Arizona Life Insurance Exam Question
& Answers 2026
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
they are not guaranteed
they are guaranteed after the first year - CORRECT
ANSWERS ✔✔they are not guaranteed
When there is a named beneficiary on a life insurance
policy, the death benefits
1. are directed to a trustee if the insured has any
outstanding debts
2. are paid directly to the insured`s creditors, with any
remaining balance forwarded to the beneficiary
,Arizona Life Insurance Exam Question
& Answers 2026
3. are paid directly to the beneficiary, minus any debt
claims by the insured`s creditors
4. are paid directly to the beneficiary without interference
from the insured`s creditors - CORRECT ANSWERS
✔✔are paid directly to the beneficiary without
interference from the insured`s creditors
What determines how much an annuitant is paid for a
variable annuity
1. varies according to how many outstanding annuitant is
paid for a variable annuity
2. payments fluctuate as annuitant gets older
3. the market value variations of the securities backing it
4. varies according to the insurers investments in its
general account - CORRECT ANSWERS ✔✔the market
value variations of the securities backing it
,Arizona Life Insurance Exam Question
& Answers 2026
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 - CORRECT ANSWERS ✔✔31 days
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
1. remain the same
2 decrease but never increase
3 increase but never decrease
, Arizona Life Insurance Exam Question
& Answers 2026
4 fluctuate with changes in the cash amount - CORRECT
ANSWERS ✔✔fluctuate with changes in the cash
amount
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
3 certificate provision
4 modification provision - CORRECT ANSWERS
✔✔conversion provision
when the deferred annuity is surrendered, who must sign
the authorization to do so
owner
& Answers 2026
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
they are not guaranteed
they are guaranteed after the first year - CORRECT
ANSWERS ✔✔they are not guaranteed
When there is a named beneficiary on a life insurance
policy, the death benefits
1. are directed to a trustee if the insured has any
outstanding debts
2. are paid directly to the insured`s creditors, with any
remaining balance forwarded to the beneficiary
,Arizona Life Insurance Exam Question
& Answers 2026
3. are paid directly to the beneficiary, minus any debt
claims by the insured`s creditors
4. are paid directly to the beneficiary without interference
from the insured`s creditors - CORRECT ANSWERS
✔✔are paid directly to the beneficiary without
interference from the insured`s creditors
What determines how much an annuitant is paid for a
variable annuity
1. varies according to how many outstanding annuitant is
paid for a variable annuity
2. payments fluctuate as annuitant gets older
3. the market value variations of the securities backing it
4. varies according to the insurers investments in its
general account - CORRECT ANSWERS ✔✔the market
value variations of the securities backing it
,Arizona Life Insurance Exam Question
& Answers 2026
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 - CORRECT ANSWERS ✔✔31 days
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
1. remain the same
2 decrease but never increase
3 increase but never decrease
, Arizona Life Insurance Exam Question
& Answers 2026
4 fluctuate with changes in the cash amount - CORRECT
ANSWERS ✔✔fluctuate with changes in the cash
amount
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
3 certificate provision
4 modification provision - CORRECT ANSWERS
✔✔conversion provision
when the deferred annuity is surrendered, who must sign
the authorization to do so
owner
