ARIZONA LIFE INSURANCE EXAM 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 - Answer -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
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 - Answer -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 - Answer -the market value variations of the securities
backing it
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
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
4 fluctuate with changes in the cash amount - Answer -
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 - Answer -conversion provision
when the deferred annuity is surrendered, who must sign the
authorization to do so
owner
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 - Answer -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
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 - Answer -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 - Answer -the market value variations of the securities
backing it
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
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
4 fluctuate with changes in the cash amount - Answer -
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 - Answer -conversion provision
when the deferred annuity is surrendered, who must sign the
authorization to do so
owner
