Arizona life and health insurance exam graded with verified
questions $ answers graded a+ \\\ pass!!!!
Which of these life insurance policies does NOT contain a cash value provision? -
answer-decreasing term life
Which statement regarding whole life insurance is accurate -answer-Insurance
coverage can continue for life
Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for
this injury. What type of insurance does Mike have? -answer-Accidental Death and
Dismemberment
Which provision makes the application part of the annuity contract? -answer-Entire
contract clause
Periodic health claim payments MUST be made at least -answer-monthly
Under the uniform mandatory provisions, an accident and health insurer has the right to
request an autopsy -answer-Only where not prohibited by law
Assets that back the non-guaranteed values of variable life insurance products are held
in which account? -answer-Separate account set up by the insurer
Jerome is covered by a disability income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is this? -
answer-Nonoccupational coverage
What typically changes at the re-entry option date found in some term life policies? -
answer-premium
Which of the following is NOT subject to the promise to pay in an insuring clause? -
answer-How the premium is calculated
According to the needs approach, an emergency reserve fund's primary purpose is to -
answer-pay for unexpected expenses
,What would be a valid reason for naming a trust as the beneficiary of a life insurance
policy as opposed to naming an individual? -answer-Management of proceeds would
be provided
A whole life policy that provides a choice of dividend options must include the following
statement about dividends -answer-they are not guaranteed
Which of the following statements best describes a double indemnity provision in travel
accident insurance -answer-Benefits are doubled under certain circumstances stated in
the policy
In long-term care insurance, what is the length of time for which claims will be paid? -
answer-Benefit period
Which action will trigger a penalty tax on premature distributions from a modified
endowment contract (MEC)? -answer-Policy loans
Which of these is NOT a reason to buy a term life policy? -answer-To accumulate
savings
Where is the difference between a standard risk and a substandard risk reflected? -
answer-Premium charges
Which of these is NOT considered a federal punishment for unfair and deceptive
insurance practices? -answer-Community Service
Long-term care policies will usually pay for eligible benefits using which of the following
methods? -answer-Expense incurred
When considering the replacement of an individual accident and health policy, a pre-
existing conditions exclusion in the new contract -answer-May reduce the insureds
benefits
The "Use it or Lose it" rule applies to -answer-Flexible Savings Accounts
A producer's license may be suspended -answer-For misappropriation of premiums
Typically, states will permit the grouping of two or more small employers in the same
industry for obtaining group health insurance at a favorable rate. This grouping of
employers is known as a multiple employer -answer-Trust
Mark is covered by a policy that uses the regular occupation (own-occ) definition of total
disability. Using this definition, he will be considered disabled if unable to -answer-
perform the substantial and material duties of his regular occupation
, Bryce purchased a disability income policy with a rider that guarantees him the option of
purchasing additional amounts of coverage at predetermined times without requiring to
provide evidence of insurability. What kind of rider is this? -answer-Guaranteed
insurability rider
Medicaid will pay for nursing home expenses under what condition? -answer-Must
have financial need
How are level term policies able to provide level premiums? -answer-Premiums are
averaged over the term of the policy
Terry receives long-term physical therapy at her residence. What type of insurance
would cover this service? -answer-home health care
What does the rehabilitation benefit cover in a disability income policy? -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 -answer-every
three years
Where does the primary funding for Medicare Part A come from? -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? -answer-Incontestable
clause
The agents authority to bind an insurance contract may be granted in the -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? -answer-net
payment cost index
The powers directly given to a producer in an agency contract are called -answer-to
express
Which individual would be best suited for Medicare supplement insurance? -answer-
Medicare enrollee
Which of the following outlines the authority given to the producer on behalf of the
insurer? -answer-Producer contract
What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? -answer-Less than the policy's face amount
questions $ answers graded a+ \\\ pass!!!!
Which of these life insurance policies does NOT contain a cash value provision? -
answer-decreasing term life
Which statement regarding whole life insurance is accurate -answer-Insurance
coverage can continue for life
Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for
this injury. What type of insurance does Mike have? -answer-Accidental Death and
Dismemberment
Which provision makes the application part of the annuity contract? -answer-Entire
contract clause
Periodic health claim payments MUST be made at least -answer-monthly
Under the uniform mandatory provisions, an accident and health insurer has the right to
request an autopsy -answer-Only where not prohibited by law
Assets that back the non-guaranteed values of variable life insurance products are held
in which account? -answer-Separate account set up by the insurer
Jerome is covered by a disability income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is this? -
answer-Nonoccupational coverage
What typically changes at the re-entry option date found in some term life policies? -
answer-premium
Which of the following is NOT subject to the promise to pay in an insuring clause? -
answer-How the premium is calculated
According to the needs approach, an emergency reserve fund's primary purpose is to -
answer-pay for unexpected expenses
,What would be a valid reason for naming a trust as the beneficiary of a life insurance
policy as opposed to naming an individual? -answer-Management of proceeds would
be provided
A whole life policy that provides a choice of dividend options must include the following
statement about dividends -answer-they are not guaranteed
Which of the following statements best describes a double indemnity provision in travel
accident insurance -answer-Benefits are doubled under certain circumstances stated in
the policy
In long-term care insurance, what is the length of time for which claims will be paid? -
answer-Benefit period
Which action will trigger a penalty tax on premature distributions from a modified
endowment contract (MEC)? -answer-Policy loans
Which of these is NOT a reason to buy a term life policy? -answer-To accumulate
savings
Where is the difference between a standard risk and a substandard risk reflected? -
answer-Premium charges
Which of these is NOT considered a federal punishment for unfair and deceptive
insurance practices? -answer-Community Service
Long-term care policies will usually pay for eligible benefits using which of the following
methods? -answer-Expense incurred
When considering the replacement of an individual accident and health policy, a pre-
existing conditions exclusion in the new contract -answer-May reduce the insureds
benefits
The "Use it or Lose it" rule applies to -answer-Flexible Savings Accounts
A producer's license may be suspended -answer-For misappropriation of premiums
Typically, states will permit the grouping of two or more small employers in the same
industry for obtaining group health insurance at a favorable rate. This grouping of
employers is known as a multiple employer -answer-Trust
Mark is covered by a policy that uses the regular occupation (own-occ) definition of total
disability. Using this definition, he will be considered disabled if unable to -answer-
perform the substantial and material duties of his regular occupation
, Bryce purchased a disability income policy with a rider that guarantees him the option of
purchasing additional amounts of coverage at predetermined times without requiring to
provide evidence of insurability. What kind of rider is this? -answer-Guaranteed
insurability rider
Medicaid will pay for nursing home expenses under what condition? -answer-Must
have financial need
How are level term policies able to provide level premiums? -answer-Premiums are
averaged over the term of the policy
Terry receives long-term physical therapy at her residence. What type of insurance
would cover this service? -answer-home health care
What does the rehabilitation benefit cover in a disability income policy? -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 -answer-every
three years
Where does the primary funding for Medicare Part A come from? -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? -answer-Incontestable
clause
The agents authority to bind an insurance contract may be granted in the -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? -answer-net
payment cost index
The powers directly given to a producer in an agency contract are called -answer-to
express
Which individual would be best suited for Medicare supplement insurance? -answer-
Medicare enrollee
Which of the following outlines the authority given to the producer on behalf of the
insurer? -answer-Producer contract
What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? -answer-Less than the policy's face amount
