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Ad Banker Comprehensive Exam Life and Health Arizona – Questions with Answers
Ad Banker Comprehensive Exam Life and Health Arizona – Questions with Answers
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Ad Banker Comprehensive Exam Life andHealth Arizona – Questions with Answers
Withdrawals from a non-qualified annuity prior to annuitization are taxed on
a ___________ basis.
A
First in, last out (FILO)
B
First-in, first out (FIFO)
C
Last-in, first out (LIFO)
D
Average cost basis (ACB) - -C
-Before granting a license, the Director may ask for which of the following
type of information?
A
College degree
B
Copy of tax returns
C
Verification of medical history
D
Criminal background information - -D
-Which is true regarding the advertising of Accident and Sickness Insurance?
A
When insurers advertise that a group endorses a certain health product, the
public must be made aware of any control the insurer may have regarding
the group
B
Advertisements may use words or phrases such as 'all', 'complete',
'comprehensive'
C
Sales talks and personal testimonials are not considered advertising
D
When an agent misleads the public in an advertisement, only the agent is
accountable - -A
-Arizona law permits pre-existing conditions exclusions for up to 18 months
for what individuals?
A
,No one
B
Late enrollees
C
Adults
D
Newborns - -B
-A group plan is designed to insure all of the following, except:
A
Creditors
B
Members
C
Employees
D
Debtors - -A
-Which underwriting source is primarily used when an application reveals
conditions for which more medical information is required?
A
Attending Physician's Statement
B
Medical Information Bureau Report
C
Inspection Report
D
Agent's Report - -A
-Intentionally distorting the truth with intent to gain something of value is
________.
A
Warranty
B
Concealment
C
Fraud
D
Misrepresentation - -C
-J makes a contribution to her IRA. All of the following information
determines whether J's contribution is tax-deductible, EXCEPT:
A
Whether J participates in an employer sponsored retirement plan
B
,Whether J is over a specified age
C
Whether J's IRA is a Traditional or a Roth
D
Whether J has income over a certain amount - -B
-A replacing insurer must assume liability for paying ongoing existing claims
under which law?
A
COBRA
B
No-Loss, No-Gain
C
HIPAA
D
ERISA - -B
-Benefit payments made on a ____________ basis are not scheduled, but are
based on the average fee charged by all doctors in a given geographical
area.
A
Pre-paid
B
Fee-for-service
C
Usual, customary, and reasonable (UCR)
D
Reimbursement - -C
-If a policyowner of a convertible term life insurance policy exercises his/her
right to convert, which of the following will happen?
A
The new policy will only be issued after proof of insurability is provided
B
The term policy will be replaced by a permanent life insurance policy
C
The new life insurance policy will likely have a much lower premium
D
The new policy will have much more life insurance coverage than the
previous one - -B
-All of the following provisions of an adjustable life policy may be changed to
meet the policyholder's needs, except:
, A
The period of insurance protection
B
The person named as the insured on the policy
C
The amount and/or frequency of premium payments
D
The face amount of the policy - -B
-Arthur has been licensed and appointed as a life insurance agent with the
XYZ insurance company for a little over a year. Which of the following
disclosure statements would be appropriate when talking with prospective
clients?
A
I am a licensed insurance producer, appointed as an agent of the XYZ
Insurance Company, which is located at 123 Main St., Your Town, USA.
B
The financial counseling I offer focuses on the comprehensive insurance
needs analysis I provide as part of my services
C
Dividends are an estimate of future performance, and the exact amount
cannot be guaranteed
D
This premium combines all cost factors, including the base policy, policy and
riders, and other optional benefits in a unified annual price - -A
-When a policy is mailed to an insured by an insurer, it is considered to be:
A
Purchased
B
Delivered
C
Rated
D
Issued - -B
-Which of the following limitations is not included in most dental expense
insurance plans?
A
Deductibles for preventive care
B
Coinsurance
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