Exam (elaborations)
Insurance Exam AZ #1333/150 questions with answers
Insurance Exam AZ #1333/150 questions with answers
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Insurance Exam AZ #1333/150 questionswith answers
An insurer must keep advertising materials and records for at least how
many years? - -3
-The insurance coverage in a variable life insurance policy may vary based
on the value of - -the underlying investments
-When is it acceptable to charge or receive a fee or service charge in
addition to the premium in connection with the transaction of insurance? - -If
the amount of the fee or service charge is reasonably related to the cost of
the service.
-The dental specialty which deals with the replacement of missing teeth is
called - -Prosthodontics
-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 age
-Which of the following would most likely purchase an immediate annuity? -
-Retiree having a lump sum to invest.
-A signed good health statement may be requested by a life producer at the
time of - -Policy delivery
-Tim is covered by Policy A with a $4,000 limit and by Policy B with a $2,000
limit. Policy A is primary. If a $6,000 loss is incurred, what will each policy
pay? - -A: 4,000 B: 2,000
-Which of the following is NOT a valid contract age? - -An annuity
exchanged for a life insurance policy.
-Tim is covered by an accident and health insurance policy that may not be
changed in any way by the insurer up to a stetted age, as long as the
premiums are paid. What type of policy is this? - -Noncancelable
-An insurer will typically assess a back-end load on a deferred annuity that is
cancelled during the early contract years. What is the back-end load referred
to as? - -Surrender charge
-What is considered a valid reason for small corporations to insure the lives
of its major stockholders? - -Fund a buy-sell agreement
, -The insured's consideration given for a health insurance policy is - -the first
premium payment and the application
-And since major medical health insurance policy contains an eligible
expense provision which identifies the types of healthcare services that are
covered all of the following healthcare services are typically covered except
for - -experimental and investigative services
-Mark is covered by a policy that issues the regular occupation (own-occ)
definition of total disability. He will be considered disabled if unable to - -
perform the substantial and marital duties of his regular occupation
-Patrick purchased a long-term care policy. He has a health condition for
which medical treatment was recommended by a physician within 6 months
prior to the policy's effective date. This condition is called a(n) - -pre-existing
condition
-Newborn children are automatically covered under an existing family
medical plan at the moment of birth for a period of at least how many days?
- -31
-How are benefit payments from individually-owned medical expense
policies treated for tax purposes? - -exempt from income taxes
-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? - -guaranteed insurability rider
-XYZ Corp gives money to an employee to purchase a life insurance policy
and allows the employee to select the beneficiary. What kind of plan is this? -
-Split-dollar
-A life insurance policy provision that has the ability to reduce the death
benefit is called the - -accelerated (living) benefit
-A group health certificate for coverage issued in Arizona MUST contain a - -
summary of policy features and benefits
-What is considered a valid reason for an insurer's refusal to pay policy
proceeds directly to a minor? - -minors are normally not capable of handling
money in a reasonable manner
-If an insured legally adopts a baby within ____ months of birth, the
maternity coverage for the child's birth is covered. - -12
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