Arizona Health/Life Insurance Exam QUESTIONS & ANSWERS || 2024 LATEST UPDATE || VERIFIED COMPLETE EXAM BUNDLE

Peril - ANSWER Which of the following can be defined as a cause for loss hazard - ANSWER A condition that increases the possibility of financial loss is called Reduction - ANSWER ABC Company is attempting to minimize the severity of potential losses within its company. The company is engaged i...

A life insurance policy can usually be contested by the insurer only during the first ____ years of the contract - ANSWER 2 years After an annuity has been in force for ____ years, it becomes incontestable - ANSWER 2 years In long term care insurance, what is the length of time for which claim...

A signed good health statement may be requested by a life producer at the time of - ANSWER policy delivery A licensee whose name or address changes must notify the Department of Insurance within _____ days. - ANSWER 30 Which statement regarding the cash value of a whole life insurance policy i...

Insurance crimes which affect interstate commerce are prosecuted by the - ANSWER US Attorney General A(n)___insurer restricts the exposures it writes to those of its owners. - ANSWER Captive Which statement best defines what a Policy Title means on an insurance policy? - ANSWER Every policy mu...

Chris has a single medical contract which covers all medical expenses. His plan is considered to be - ANSWER Comprehensive A life policy's spendthrift clause would have no effect if the beneficiary is paid the proceeds as a - ANSWER lump-sum payment What will medicare charge if someone does...

If dividend option choices are offered on a whole life insurance policy, the policy MUST - ANSWER contain a statement that dividends are NOT guaranteed An insured files for an accident and health insurance policy claim eight days after the premium due date. The benefit payable is $500 and the ov...

When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - ANSWER Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ANSWER 9:00 PM A health plan offered by private...

a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - ANSWER they are not guaranteed When there ...

Which statement regarding the cash value of a whole life insurance policy is correct? - ANSWER Available to the policyowner when the policy has been surrendered. Which of the following is NOT a valid contract exchange? - ANSWER An annuity exchanged fora . life insurance policy. Interest is cre...

Which element of a contract constitutes a definite and unqualified proposal by one party to another? - ANSWER Offer Skilled nursing facility expenses are sometimes covered by ___________, but ONLY if the insured was hospitalized prior to entering the facility. - ANSWER Medicare Disability inco...

Military Families - ANSWER Which of the following does TRI-CARE provide accident and health coverage Inpatient Drugs - ANSWER Medicare Part A typically covers to The insured's education, training, and experience - ANSWER What is taken into consideration when defining 'total disability...

Any administrative action taken against a producer MUST be reported to the director within ___ days after the final disposition. - ANSWER 30 How many days notice does the Affordable Care Act require insurers to give before rescinding coverage? - ANSWER 30 According to the Affordable Care Act, ...

Who is involved in completing the agents reports - ANSWER Only the agent Which of the following is a feature of a variable annuity - ANSWER Benefit payment amounts are not guaranteed The omnibus budget reconciliation act of 1990 (obra) requires that large group health plans must provide primar...

Regulations for variable insurance contracts are set by all of the following EXCEPT Securities and Exchange Commission Department of Insurance State securities authorities State attorney general's office - ANSWER State attorney general's office Which of the following is associated wit...