ARIZONA LIFE AND HEALTH INSURANCE EXAM
QUESTIONS WITH 100% COMPLETE
SOLUTIONS| LATEST UPDATE
Terry receives long-term physical therapy at her residence. What type of insurance
would cover this service? - correct answer-home health care
What does the rehabilitation benefit cover in a disability income policy? - correct
answer-Covers the approved cost of the rehabilitation necessary to help a disabled
insured return to work
Notice of information practices must be given to a policyholder at least - correct answer-
every three years
Where does the primary funding for Medicare Part A come from? - correct answer-
Federal payroll and self-employment taxes
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has past? - correct answer-
Incontestable clause
The agents authority to bind an insurance contract may be granted in the - correct
answer-Agents contract and the insurance company's appointment
Wyatt is shopping for life insurance and is mainly concerned with the policy's death
benefit. Which index should he be looking at when making comparisons? - correct
answer-net payment cost index
The powers directly given to a producer in an agency contract are called - correct
answer-to express
Which individual would be best suited for Medicare supplement insurance? - correct
answer-Medicare enrollee
,Which of the following outlines the authority given to the producer on behalf of the
insurer? - correct answer-Producer contract
What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? - correct answer-Less than the policy's face amount
During an annuity's liquidation phase, the annuitant normally - correct answer-receives
benefit payments at regular intervals
A retirement plan that sets aside part of the company's net income for distributors to
qualified employees is called a - correct answer-Profit-sharing plan
What is the accounting measurement of an insurance company's future obligations to its
policy owners? - correct answer-Reserves
Which of the following is a TRUE statement regarding universal life insurance - correct
answer-Policy indicates how much of each premium is used toward company expenses
A policyowner has just borrowed from a life insurance policy's cash value. Which of
these statements is true? - correct answer-In the event of death, the loan amount is
deducted from the policy proceeds
How is the insured protected if a payor benefit rider is attached to the life insurance
policy? - correct answer-Premium payments are waived in the event the premium payor
dies or becomes disabled
An insurance policy that can also be classified as a securities product is called - correct
answer-Variable Life
If a disability income policy contains a cost-of-living adjustment rider, benefits must
typically be increased - correct answer-At least once per year from when benefits begin
What must the insurer provide to certificate holders when a group Medicare Supplement
insurance policy is terminated and not replaced? - correct answer-An offer of conversion
to individual coverage
, Which of these factors does NOT influence an individuals need for life insurance? -
correct answer-Self-maintenance expenses
Laura added a children's rider to her life insurance policy. What type of coverage was
added? - correct answer-Level term
According to the affordable care act (ACA), insurers can no longer deny health
coverage due to pre existing conditions unless that plan is a(n) - correct answer-
Grandfathered plan
Andy is in need of health care performed by skilled medical practitioners, but only on an
intermittent basis. What level of care will his doctor likely prescribe? - correct answer-
intermediate care
Accident and health insurance claim handling is made more convenient to the insured
by utilizing - correct answer-assignment of benefits
Which life insurance policy provision prohibits a beneficiary from "commuting,
encumbering, withdrawing, or assigning" any portion of the proceeds prior to actual
receipt from the company? - correct answer-Spendthrift clause
Which annuity allows contributions to an IRA? - correct answer-deferred
A terminally ill policyowner decides to sell his life insurance policy at a discount to help
support his family. This sale is called a - correct answer-Viatical settlement
Which of the following statements accurately describes the "time limit on certain
defenses"? - correct answer-After a stated period of time, claims cannot be denied due
to material misrepresentation on the application
An individual, age 45, would like to help pay for his daughters college expense in 10
years. Which annuity would be appropriate for this individual? - correct answer-Deferred
annuity
QUESTIONS WITH 100% COMPLETE
SOLUTIONS| LATEST UPDATE
Terry receives long-term physical therapy at her residence. What type of insurance
would cover this service? - correct answer-home health care
What does the rehabilitation benefit cover in a disability income policy? - correct
answer-Covers the approved cost of the rehabilitation necessary to help a disabled
insured return to work
Notice of information practices must be given to a policyholder at least - correct answer-
every three years
Where does the primary funding for Medicare Part A come from? - correct answer-
Federal payroll and self-employment taxes
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has past? - correct answer-
Incontestable clause
The agents authority to bind an insurance contract may be granted in the - correct
answer-Agents contract and the insurance company's appointment
Wyatt is shopping for life insurance and is mainly concerned with the policy's death
benefit. Which index should he be looking at when making comparisons? - correct
answer-net payment cost index
The powers directly given to a producer in an agency contract are called - correct
answer-to express
Which individual would be best suited for Medicare supplement insurance? - correct
answer-Medicare enrollee
,Which of the following outlines the authority given to the producer on behalf of the
insurer? - correct answer-Producer contract
What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? - correct answer-Less than the policy's face amount
During an annuity's liquidation phase, the annuitant normally - correct answer-receives
benefit payments at regular intervals
A retirement plan that sets aside part of the company's net income for distributors to
qualified employees is called a - correct answer-Profit-sharing plan
What is the accounting measurement of an insurance company's future obligations to its
policy owners? - correct answer-Reserves
Which of the following is a TRUE statement regarding universal life insurance - correct
answer-Policy indicates how much of each premium is used toward company expenses
A policyowner has just borrowed from a life insurance policy's cash value. Which of
these statements is true? - correct answer-In the event of death, the loan amount is
deducted from the policy proceeds
How is the insured protected if a payor benefit rider is attached to the life insurance
policy? - correct answer-Premium payments are waived in the event the premium payor
dies or becomes disabled
An insurance policy that can also be classified as a securities product is called - correct
answer-Variable Life
If a disability income policy contains a cost-of-living adjustment rider, benefits must
typically be increased - correct answer-At least once per year from when benefits begin
What must the insurer provide to certificate holders when a group Medicare Supplement
insurance policy is terminated and not replaced? - correct answer-An offer of conversion
to individual coverage
, Which of these factors does NOT influence an individuals need for life insurance? -
correct answer-Self-maintenance expenses
Laura added a children's rider to her life insurance policy. What type of coverage was
added? - correct answer-Level term
According to the affordable care act (ACA), insurers can no longer deny health
coverage due to pre existing conditions unless that plan is a(n) - correct answer-
Grandfathered plan
Andy is in need of health care performed by skilled medical practitioners, but only on an
intermittent basis. What level of care will his doctor likely prescribe? - correct answer-
intermediate care
Accident and health insurance claim handling is made more convenient to the insured
by utilizing - correct answer-assignment of benefits
Which life insurance policy provision prohibits a beneficiary from "commuting,
encumbering, withdrawing, or assigning" any portion of the proceeds prior to actual
receipt from the company? - correct answer-Spendthrift clause
Which annuity allows contributions to an IRA? - correct answer-deferred
A terminally ill policyowner decides to sell his life insurance policy at a discount to help
support his family. This sale is called a - correct answer-Viatical settlement
Which of the following statements accurately describes the "time limit on certain
defenses"? - correct answer-After a stated period of time, claims cannot be denied due
to material misrepresentation on the application
An individual, age 45, would like to help pay for his daughters college expense in 10
years. Which annuity would be appropriate for this individual? - correct answer-Deferred
annuity
