Exam (elaborations)
Arizona Life and Health Insurance State Exam Simulator
Arizona Life and Health Insurance State Exam Simulator
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Arizona Life and Health InsuranceState Exam Simulator
Which statement regarding the cash value of a whole life insurance policy is
correct? - -Available to the policyowner when the policy has been
surrendered.
-Which of the following is NOT a valid contract exchange? - -An annuity
exchanged fora . life insurance policy.
-Interest is credited to a fixed annuity no lower than the - -contract
guaranteed rate
-Under the uniform mandatory provisions, an accident and health insurer
has the right to request an autopsy - -Only where not prohibited by law
-Which of the following would NOT be appropriate for an immediate annuity?
- -A parent saving for a child's college
-Jerry has an indemnity plan which covers dental expenses. Typically, these
type of plans - -cover preventative care once every six months
-In what situation would disability income insurance premiums be a
deductible expense? - -Corporation paying for group disability income
coverage for its employees
-which of these statements regarding insurance is false? - -As the number
of insured units increases, the number of losses decreases
-A MET third-party administrator may NOT perform which of the following
functions? - -Marketing the plan
-which of the following statements regarding hospital pre-authorization is
NOT true? - -It encourages weekend admission
-Traditional individual retirement annuity (IRA) distributions must start by - -
April 1st of the year following the year the participant attains age 70 1/2
-Use of XYZ Insurance Company brochures, business cards, and rating
guides is an example of - -Expressed authority
-Medicare Part A covers which type of care? - -Skilled nursing facility care
, -Al surrenders his life insurance policy for its cash value. The total of the
premiums paid into the policy minus total dividends received in cash or used
to offset premiums is referred to as the - -cost basis
-Which of the following health plans pay benefits on a pre-paid service
basis? - -HMO
-Laura is a new employee and will be obtaining non-contributory group
Major Medical insurance from her employer. Which of the following actions
must she take during the open enrollment period? - -Sign an enrollment card
-When determining the accumulation value of a deferred annuity, the total is
calculated by taking the premiums paid plus interest earned minus - -
expenses and withdrawals
-Which of the following health insurance plans charges a premium that
cannot be increased? - -Noncancelable
-The contractual rights which allow the owner of a deferred annuity to
surrender the cash value several years before the annuity date are called - -
nonforfeiture options
-The difference between a doctor's actual charges and the amount approved
by Medicare is referred to as a(n) - -excess charge
-Giving up a known right on a voluntary basis is called a(n) - -waiver
-Kim is covered under two medical expense plans. Plan A pays up to 5,000.
Plan B pays up to $4,000. If she incurs $7,000 in expenses, the coordination
of the benefits provision dictates that - -Plan A pays up to $5,000 and Plan B
pays up to $2,000
-Who regulates an insurer's claim settlement practices? - -State insurance
departments
-A life insurance policy that contains an accelerated (living) benefit rider will
provide funds if the - -insured is expected to be confined to a nursing home
for life
-Which of the following best describes the presumptive disability provision? -
-Waives the typical total disability requirements
-Elimination periods typically apply to - -disability policies
-What qualifies as acceptance of an insurance contract offer? - -An issued
policy
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