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arizona laws and rules pertinant to insurance Exam/75 Q’s and A’s
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arizona laws and rules pertinant toinsurance Exam/75 Q’s and A’s
Security laws passed by Congress are enforced by which Federal agency? - -
Security and Exchange Commission
-If a life insurance applicant is shown future premiums are to be paid out of
non-guaranteed values, the illustration used in the sales presentation MUST -
-disclose that premium payments may be resumed depending on actual
results
-A group Medicare Supplement policy was terminated and not replaced by
the insurer. In this situation, the insurer MUST - -provide an offer of
conversion to individual coverage
-Which of the following is an example of defamation? - -Making a statement
that is false or maliciously critical of the financial condition of an insurer
-Under Federal Law, which of the following actions may result in a producer
becoming imprisoned - -Producer embezzling funds from an insurer
-The Genetic Information Nondiscrimination Act 2008 bars all of the
following EXCEPT - -prohibits the use of genetic information in health
insurance, unless the applicant signs a waiver
-What year was the Mental Health Parity and Addiction Equity Act
established? - -2008
-The ______ is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant. - -producer
-A policyowner decides to surrender the cash value of a whole life insurance
policy. The insurer has up to ____ month(s) to delay this payment. - -6
-Enrollees in a staff model HMO normally have which of the following
pharmacy options available? - -In-house Pharmacy
-The application is part of the annuity contract according to the - -Entire
Contract Clause
-According to the Affordable Care Act (ACA),insurers can no longer deny
health coverage due to pre-existing conditions unless that plan is a(n) - -
Grandfathered Plan
, -Mentally or physically handicapped dependent children MUST be covered
under an individual health insurance policy - -until they become self
supportive
-Autopsies may be requested by an accident and health insurer - -only if
prohibited by state law
-In regards to the Affordable Care Act (ACA), which of these is NOT a role of
a health insurance exchange? - -Contact the employer if an employee stops
coverage under a plan offered in exchange
-After an annuity has been in force for ___ year(s), it becomes incontestable.
- -2
-Which of the following actions is considered to be an unfair trade practice? -
-A producer who sells insurance to an individual by means of threat
-Greg had recently been terminated from his job that covered him for group
life insurance. How long does he have to convert his coverage to an
individual policy? - -31 days
-A life insurance policy can usually be contested by the insurer only during
the firs ___ years of the contract. - -two
-How long must a producer maintain customer records for an insurance
transaction? - -three years
-A health insurance claim may be contested due to statements made on the
applications for up to ____ year(s) after issuance of the policy. - -2
-Which of the following is NOT a valid reason for an insurer to contest a life
insurance policy during the policy's first two years of existence? - -
Misstatement of a age
-A loss of minimum essential coverage usually counts as a qualifying event
that triggers what? - -a special enrollment period
-Arizona allows a maximum of how many attempts in a 12-month period,
before having to wait one year before attempting the exam again? - -4
attempts
-Which statement best defines what a Policy Title means on an insurance
policy? - -Every policy must have a title on the face and on the back of the
policy, briefly describing the policy
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