XCEL Arizona Life and Health License Insurance State
Actual Final Exam ACCURATE EXAM REAL
QUESTIONS WITH WELL ELABORATED ANSWERS
(100% CORRECT VERIFIED SOLUTIONS) LATEST
UPDATED VERSION GUARANTEED PASS A+| BRAND
NEW!!
When calculating the amount of life insurance needed for an income
earner, what has to be determined when using the Needs
Approach?
- The insurance company's financial rating
- The family's financial objectives if the income earner were to
die or become disabled
- The income earner's credit score
- The income earner's future projected income
The family's financial objectives if the income earner were to die or
become disabled
,Craig purchased a life insurance policy for enabling his heirs to pay
estate taxes. What is this called?
- Human value protection
- Liquidity maintenance
- Survivor fun
- Estate conservation
Estate conservation
Fraternal Benefit Society has each of the following characteristics
EXCEPT
- Without capital stock
- Incorporated
- Exist for profit
- Exist for the benefit of its members
Exist for profit
Which of the following is considered to be any situation that has the
potential for loss?
- Law of large numbers
- Risk transfer
- Adverse Selection
- Loss exposure
Loss exposure
,Who does a life settlement broker represent?
- Insurance company
- Life agent
- Private firm
- Individual wanting to sell their life policy to a third party
Individual wanting to sell their life policy to a third party
A health insurance policy paid on a quarterly basis has a grace period
of
- 10 days
- 31 days
- 7 days
- 60 days
31 days
Which of the following employers is required to follow ERISA
regulations?
- A local electrical supply company with 12 employees
- A church with 30 employees
- A local government with 150 employees
- A Canadian company with 300 employees working in the United
States
A local electrical supply company with 12 employees
, According to the California code governing claim settlement
practices, which of the following is NOT considered to be an act
of unfair
discrimination?
- Denial of claim based on blindness
- Denial of claim based on sexual orientation
- Denial of claim based on color
- Denial of claim based on reckless behavior
Denial of claim based on reckless behavior
Most U.S. life insurance companies belong to the
- Underwriting information Bureau
- Medical information Bureau
- FINRA
- National Association of insurance commissioners
Medical information Bureau
A hazard can be best described as
- The tendency for poorer than average risks to seek out insurance
- A risk that has the potential for both loss and gain
- A condition that may increase the likelihood of a loss occurring
- The potential for loss
A condition that may increase the likelihood of a loss occurring
Actual Final Exam ACCURATE EXAM REAL
QUESTIONS WITH WELL ELABORATED ANSWERS
(100% CORRECT VERIFIED SOLUTIONS) LATEST
UPDATED VERSION GUARANTEED PASS A+| BRAND
NEW!!
When calculating the amount of life insurance needed for an income
earner, what has to be determined when using the Needs
Approach?
- The insurance company's financial rating
- The family's financial objectives if the income earner were to
die or become disabled
- The income earner's credit score
- The income earner's future projected income
The family's financial objectives if the income earner were to die or
become disabled
,Craig purchased a life insurance policy for enabling his heirs to pay
estate taxes. What is this called?
- Human value protection
- Liquidity maintenance
- Survivor fun
- Estate conservation
Estate conservation
Fraternal Benefit Society has each of the following characteristics
EXCEPT
- Without capital stock
- Incorporated
- Exist for profit
- Exist for the benefit of its members
Exist for profit
Which of the following is considered to be any situation that has the
potential for loss?
- Law of large numbers
- Risk transfer
- Adverse Selection
- Loss exposure
Loss exposure
,Who does a life settlement broker represent?
- Insurance company
- Life agent
- Private firm
- Individual wanting to sell their life policy to a third party
Individual wanting to sell their life policy to a third party
A health insurance policy paid on a quarterly basis has a grace period
of
- 10 days
- 31 days
- 7 days
- 60 days
31 days
Which of the following employers is required to follow ERISA
regulations?
- A local electrical supply company with 12 employees
- A church with 30 employees
- A local government with 150 employees
- A Canadian company with 300 employees working in the United
States
A local electrical supply company with 12 employees
, According to the California code governing claim settlement
practices, which of the following is NOT considered to be an act
of unfair
discrimination?
- Denial of claim based on blindness
- Denial of claim based on sexual orientation
- Denial of claim based on color
- Denial of claim based on reckless behavior
Denial of claim based on reckless behavior
Most U.S. life insurance companies belong to the
- Underwriting information Bureau
- Medical information Bureau
- FINRA
- National Association of insurance commissioners
Medical information Bureau
A hazard can be best described as
- The tendency for poorer than average risks to seek out insurance
- A risk that has the potential for both loss and gain
- A condition that may increase the likelihood of a loss occurring
- The potential for loss
A condition that may increase the likelihood of a loss occurring
