Exam (elaborations)
Arizona life and health insurance exam/236 Q’s and A’s
Arizona life and health insurance exam/236 Q’s and A’s
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Arizona life and health insuranceexam/236 Q’s and A’s
When the disclosure of an insured's nonpublic information is involved, what
is the insurer obligated to do? - -Give notice, explain, and allow opting out
-Under the Telemarketing Sales Rule, telemarketing calls may NOT be
received after - -9:00 PM
-A health plan offered by private insurance companies is - -Medicare
Supplement
-Chris has a single major medical contract which covers all medical
expenses. His plan is considered to be - -comprehensive
-In accident and health insurance, 60 days must pass after written proof of
loss has been received by an insurer before the insured may - -Bring legal
action against the insurer
-When a ten year renewable term life insurance policy issued at age 45 is
renewed, the premium rate will be the current rate for - -Ten year term
insurance for a person aged 55
-All of the following are unfair claims settlement practices except - -An
attempt to settle a claim by arbitration
-What is covered under a limited accident and health insurance policy? - -
Limited perils and amounts
-A life insurance policy provision that has the ability to reduce the death
benefit is called - -Accelerated (living) benefit
-If an accident and health insurance claim form is NOT supplied to the
insured within 15 says after the notice of claim, the insured may comply with
the proof of loss provision by submitting - -Written proof of the occurrence
and extent of loss
-How are monthly life annuity benefit payments treated under a tax
sheltered annuity (TSA)? - -Taxed as ordinary income in the year received
-How does a continuous premium whole life policy differ from a limited
payment whole life policy? - -The time period in which premiums will be paid
, -Which of these is an accurate statement regarding the fixed period
settlement option on a life insurance policy? - -A portion of the payments
paid to the beneficiary comes from interest calculated on the proceeds of the
policy
-Under what circumstance does an accident and health insurer have the
right to request an autopsy? - -When not prohibited by state law
-A material change in a modified endowment contract (MEC) results in - -the
seven pay test, adjusted for cash value, being applied again
-Under an adjustable life insurance policy, which of the following may NOT
be changed without further underwriting? - -The person insured
-Linda is covered with long-term care insurance and has early-stage
Alzheimer's. She is still able to reside in her home while receiving primary
care, as opposed to moving into a nursing home. All of the following long-
term benefits encourage this EXCEPT for - -custodial care
-Employer-paid qualified long-term care insurance premiums are typically -
-Excluded from the employee's gross income.
-Which statement regarding the certificate of insurance is accurate? - -
Indicates evidence of an employee's insurance coverage
-Purchasing insurance is an example of risk - -transference
-When an applicant applies for a large amount of life insurance coverage,
which of the following would likely NOT be an underwriting requirement? - -
eye examination
-A comprehensive major medical health insurance policy contains an eligible
expenses provision which identifies the type of health care services that are
covered. All of the following health care services are typical covered EXCEPT
for - -Experimental and investigative services
-All of these statements concerning group credit life insurance are false
EXCEPT - -The face amount is determined by the outstanding loan balance
-Who may terminate coverage under and cancelable health insurance
policy? - -insurer or insured
-The interest credited to the cash values of personally-owned non-qualified
annuities is considered - -tax deferred
, -An insurer that confines or largely limits the exposures it writes to those of
its owners is called - -captive
-Dividends from a mutual insurance company are paid to whom? - -
Policyholders
-A business may purchase an annuity for all of the following reasons EXCEPT
- -Informally finding a non-qualified deferred compensation plan
-An organization that requires healthcare services to be provided by a
network of physicians and hospitals is known as an - -HMO
-In Arizona, and insurer providing small employer group medical plans may
discontinue an employers coverage if - -The insurer no longer offers the plan
to any employer
-Which of the following statements is NOT true concerning the relationship
between group health insurance plans and Medicare? (Assuming the
business has more than 20 employees) - -Group health coverage is NOT
available for workers over the age of 65
-hold harmless clause is an example of risk - -to transfer. Shifts liability for
loss from one party to another
-What is a "functional assessment" for long-term care benefits? - -A review
of the insured ability to perform the activities of daily living
-Which is an accurate description of the premium in a graded premium life
insurance policy? - -Annual increases in premium for a stated number of
years then levels off for the remainder of the contract
-Which of the following BEST describes a "partial disability" - -Unable to
perform one or more job duties
-An insured may be required to sign which document at policy delivery to
ensure there has not been any adverse medical conditions since the time of
the application? - -A good health statement
-The Arizona Life and Disability Insurance Guaranty Fund protects an insured
in the event of - -The insurers insolvency
-After an applicant reads and signs an insurance application, he/she should
be conscious of the fact that - -a false statement could lead to loss of
coverage
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