FINAL EXAM - ARIZONA LIFE AND HEALTH EXAM

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FINAL EXAM - ARIZONA LIFE AND HEALTH EXAM

QUESTIONS

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: A producer working for an insurance company may be personally liable for?

Answer:

Acts performed which are prohibited in the agency contract Question 2: In Arizona Life and Disability Insurance Guaranty Fund protects an insured in the event of?

Answer:

The insurer's insolvency Question 3: Employer-paid qualifies long-term care insurance premiums are typically?

Answer:

Excluded from the employee's gross income Question 4: Which of the following is NOT subject to the promise to pay in an insuring clause?

Answer:

How the premium is calculated

Question 5: Which of the following statements BEST describes employer contributions for employer provided health insurance?

Answer:

Employ contributions are deductible Question 6: Which of these statements is NOT a characteristic of the law of large numbers?

Answer:

Rates can be calculated to compensate for losses

Question 7: The annuitant in a single premium deferred annuity (SPDA)?

Answer:

Received immediate benefit payments Question 8: A teacher recently retired at age 63 and has a tax sheltered annuity (TSA). Periodic deposits total $120,000 and the value of the contract is now worth $200,000. How much is taxed if the current value is surrendered today?

Answer:

$200,000

Question 9: Medicare Supplement insurance that provides a preventative medical care benefit will often cover?

Answer:

Yearly physics examinations Question 10: EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is?

Answer:

• Years

Question 11: Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends?

Answer:

Equal the Net single premium for the same amount at the insured's attained age

Question 12: What does a 401(k) plan generally provide its participants?

Answer:

Salary-deferral option Question 13: An accident and health insurer has just received written proof of loss from one of its insurers. The insured must now wait 60 days before?

Answer:

Bringing legal action against the insurer Question 14: For purposes of Disability Income Insurance, earned income would include all of the following EXCEPT

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Dividends Question 15: Which of these life insurance policies does NOT contain a cash value provision?

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Decreasing term life Question 16: An insured, age 67, is covered under a disability income policy. What will the insurer require in order for the insured to continue coverage?

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The insured must work for a stated number of hours per week Question 17: A life insurance illustration showing future premiums being paid out of no guaranteed values must disclose that?

Answer:

The policy owner may need to resume premium payments depending on actual results

Question 18: Which statement concerning a deferred annuity contract is correct?

Answer:

The owner converge beneficiary, annuitant, or neither Question 19: An insured covered under a Disability Income policy is disabled and collecting benefits for a period of two months. He returns to work and is again disabled from the same cause, whereupon benefits continue to be paid. This is an example of which of the following?

Answer:

Recurrent disability

Question 20: If a producer misleads or fails to adequately disclose the title and true nature of a policy offered to a potential insured, it may be considered

Answer:

Misrepresentation Question 21: What action can an insurer take to discourage malingering and false disability claims?

Answer:

When an insured has two disability policies with the same insurer, the insurer sets limits in the amount of benefits an insured can collect

Question 22: A health plan offered by private insurance companies is?

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A Medicare Supplement Question 23: Which of the following is considered to be a prosthodontic dental procedure?

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Bridgework Question 24: A life policy that has premiums that are lower than normal during the early years is called?

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Modified Life Question 25: All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT?

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Leave a conditional receipt with client Question 26: Use of XYZ Insurance Company brochures, business cards, and rating guides is an example of?

Answer:

Apparent Authority