Arizona Life Insurance Exam
Arizona Life Insurance Exam
Questions and 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
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
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
the market value variations of the securities backing it
Arizona Life Insurance Exam
,Arizona Life Insurance Exam
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
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
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
conversion provision
when the deferred annuity is surrendered, who must sign the authorization to do so
owner
Arizona Life Insurance Exam
,Arizona Life Insurance Exam
annuitant and beneficiary
annuitant
all parties involved
owner
Which of the following is NOT a valid contract exchange?
1. an annuity exchanged for a life insurance policy
2 an annuity exchanged for another annuity
3 a life insurance policy exchanged for another life insurance policy
4 a life insurance policy exchanged for another annuity
an annuity exchanged for a life insurance policy
which of these statements regarding the extended term insurance nonforfeiture option in a life
policy is accurate
evidence of insurability is required
coverage remains until death of the insured
the premium to purchase the coverage comes from the policy`s cash value
cash value will continue to grow
the premium to purchase the coverage comes from the policy`s cash value
a life insurance policy that includes a return of premium rider will pay the beneficiary how much
upon the insured death
total premiums paid plus the policy face amount
face amount plus interest
interest acquired plus total premiums paid
face amount minus any outstanding loan balances
Arizona Life Insurance Exam
, Arizona Life Insurance Exam
total premiums paid plus the policy face amount
which of these is NOT considered the responsibility of a producer during the underwriting
process
collecting additional medical information if needed
promptly sending the completed application to the insurance company
forwarding any material personal observations to the insurer
selecting the final approval date
selecting the final approval date
which of the following is NOT guaranteed in a whole life policy
settlement options
nonforfeiture options
dividend scale
policy loan values
dividend scale
all of these duties that a producer may be required to perform when delivering an insurance
policy EXCEPT
acquire a statement of good health signature
gather the initial premium
review policy with applicant
leave a conditional receipt with client
leave a conditional receipt with client
laura added a children`s rider to her life insurance policy. what type of coverage was added
level term
Arizona Life Insurance Exam
Arizona Life Insurance Exam
Questions and 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
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
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
the market value variations of the securities backing it
Arizona Life Insurance Exam
,Arizona Life Insurance Exam
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
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
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
conversion provision
when the deferred annuity is surrendered, who must sign the authorization to do so
owner
Arizona Life Insurance Exam
,Arizona Life Insurance Exam
annuitant and beneficiary
annuitant
all parties involved
owner
Which of the following is NOT a valid contract exchange?
1. an annuity exchanged for a life insurance policy
2 an annuity exchanged for another annuity
3 a life insurance policy exchanged for another life insurance policy
4 a life insurance policy exchanged for another annuity
an annuity exchanged for a life insurance policy
which of these statements regarding the extended term insurance nonforfeiture option in a life
policy is accurate
evidence of insurability is required
coverage remains until death of the insured
the premium to purchase the coverage comes from the policy`s cash value
cash value will continue to grow
the premium to purchase the coverage comes from the policy`s cash value
a life insurance policy that includes a return of premium rider will pay the beneficiary how much
upon the insured death
total premiums paid plus the policy face amount
face amount plus interest
interest acquired plus total premiums paid
face amount minus any outstanding loan balances
Arizona Life Insurance Exam
, Arizona Life Insurance Exam
total premiums paid plus the policy face amount
which of these is NOT considered the responsibility of a producer during the underwriting
process
collecting additional medical information if needed
promptly sending the completed application to the insurance company
forwarding any material personal observations to the insurer
selecting the final approval date
selecting the final approval date
which of the following is NOT guaranteed in a whole life policy
settlement options
nonforfeiture options
dividend scale
policy loan values
dividend scale
all of these duties that a producer may be required to perform when delivering an insurance
policy EXCEPT
acquire a statement of good health signature
gather the initial premium
review policy with applicant
leave a conditional receipt with client
leave a conditional receipt with client
laura added a children`s rider to her life insurance policy. what type of coverage was added
level term
Arizona Life Insurance Exam
