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XCEL Arizona Life insurance Exam Simulator Verified Questions
And Answers A+ Grade ||Just Out!!!
When replacing an individual health policy in Arizona, the
required replacement notice to the applicant must include
Changes in premium amounts
A comparison of benefits
The name of the insurer that issued the original coverage
Notice that pre-existing conditions may not be covered -
ANSWER-Notice that pre-existing conditions may not be
covered
The "Notice to buyer" on the first page of each long term care
policy delivered in Arizona
explains that some long term care costs may not be covered
provides the addresses of approved long term care facilities
states the possible disadvantages of replacement
states the cost of the coverage - ANSWER-explains that some
long term care costs may not be covered
When replacing individual health insurance, a producer should
compare existing benefits with the proposed new policy to
determine if
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The insured must cancel the existing policy before applying for
another
The grace period of the existing policy will be renewed
Commissions payable under the new policy justify replacement
Existing benefits would be maintained under the new plan -
ANSWER-Existing benefits would be maintained under the new
plan
Larry wants to purchase an individual disability income policy to
ensure that he will not experience a lapse in income should he
become disabled. He has a two-month wage continuation
benefit from his employer. What should the policy elimination
period be for his individual policy?
30 days
60 days
90 days
120 days - ANSWER-60 days
Which of these annuity features is meant to discourage
withdrawals and exchanges?
Annuitization
Annual fees
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Withdrawal penalty
Surrender charges - ANSWER-Surrender charges
Which of the following features a guaranteed interest rate,
flexible deposits, deferred taxation, and death benefits equal to
the cash value?
Variable life policy
Modified life policy
Flexible premium fixed annuity
Immediate fixed annuity - ANSWER-Flexible premium fixed
annuity
Contributions made by an employee to a qualified retirement
plan are required to be
subject to income taxes
fully refundable
nonforfeitable
subject to a vesting schedule - ANSWER-subject to a vesting
schedule
XCEL Arizona Life insurance Exam Simulator Verified Questions
And Answers A+ Grade ||Just Out!!!
When replacing an individual health policy in Arizona, the
required replacement notice to the applicant must include
Changes in premium amounts
A comparison of benefits
The name of the insurer that issued the original coverage
Notice that pre-existing conditions may not be covered -
ANSWER-Notice that pre-existing conditions may not be
covered
The "Notice to buyer" on the first page of each long term care
policy delivered in Arizona
explains that some long term care costs may not be covered
provides the addresses of approved long term care facilities
states the possible disadvantages of replacement
states the cost of the coverage - ANSWER-explains that some
long term care costs may not be covered
When replacing individual health insurance, a producer should
compare existing benefits with the proposed new policy to
determine if
,2|Page
The insured must cancel the existing policy before applying for
another
The grace period of the existing policy will be renewed
Commissions payable under the new policy justify replacement
Existing benefits would be maintained under the new plan -
ANSWER-Existing benefits would be maintained under the new
plan
Larry wants to purchase an individual disability income policy to
ensure that he will not experience a lapse in income should he
become disabled. He has a two-month wage continuation
benefit from his employer. What should the policy elimination
period be for his individual policy?
30 days
60 days
90 days
120 days - ANSWER-60 days
Which of these annuity features is meant to discourage
withdrawals and exchanges?
Annuitization
Annual fees
, 3|Page
Withdrawal penalty
Surrender charges - ANSWER-Surrender charges
Which of the following features a guaranteed interest rate,
flexible deposits, deferred taxation, and death benefits equal to
the cash value?
Variable life policy
Modified life policy
Flexible premium fixed annuity
Immediate fixed annuity - ANSWER-Flexible premium fixed
annuity
Contributions made by an employee to a qualified retirement
plan are required to be
subject to income taxes
fully refundable
nonforfeitable
subject to a vesting schedule - ANSWER-subject to a vesting
schedule
