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Arizona Insurance Exam Latest Updated 2024/2025 Actual Questions and Answers Fully Solved 100% Guaranteed Success.(Graded A+)
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A life annuity with period certain is characterized as - guaranteeing benefit payments for a stated minimum number of years a life insurance company just paid a $100,000 death benefit to a beneficiary. when the insured died, the cash value was 15,000 and the total premiums-paid equaled 10,000. h...

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  • August 3, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Arizona Insurance
  • Arizona Insurance

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Arizona Insurance Exam
A life annuity with period certain is characterized as - guaranteeing benefit payments for a stated
minimum number of years

a life insurance company just paid a $100,000 death benefit to a beneficiary. when the insured died, the
cash value was 15,000 and the total premiums-paid equaled 10,000. how much of the proceeds will be
added to the beneficiary's gross income for tax purposes? - nothing, death benefits to a
beneficiary are exempt from federal income tax

a life insurance policy can usually be contested by the insurer only during the first ______ years of the
contract - two

A life insurance policy provision that has the ability to reduce the death benefit is called the -
accelerated (living) benefit

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



a life insurance policy that includes a return of premium rider will pay the beneficiary how much upon
the insured's death? - total premiums paid + total face amount

a ________ insurer assumes risk from another insurance company - reinsurance



a life policy that has premiums that are lower than normal during the early years is called -
modified life



a loss of minimum essential coverage usually counts as a qualifying event that triggers what? - a
special enrollment period




a medicare supplement policy is required to do which of the following? - provide a 30 day free-
look period



a physician who accepts assignment on all medicare claims is called a - participating provider

, a policy owner decides to surrender the cash value of a whole life insurance policy. the insurer has up to
______ months to delay this payment. - 6

a ________ insurer assumes risk from another insurance company - reinsurance



a producer is proposing that a policy owner replace an existing individual health insurance policy with a
new one. under the new contract, a pre-existing conditions exclusion - may reduce the insured's
benefits

a ________ insurer assumes risk from another insurance company - reinsurance



A signed good health statement may be requested by a life producer at the time of - Policy
delivery

a ________ insurer assumes risk from another insurance company - reinsurance



a teacher recently retired at age 63 and has a tax sheltered annuity (TSA). periodic deposits total
$120,000 and the value of the contract is now worth $200,000. How much is taxed if the current value is
surrendered today? - 200,000



A(n) _____ insurer operates in the US but is headquartered outside the US - alien



ABC Co is attempting to minimize the severity of potential losses within its company. The company is
engaged in risk - retention



according to ERISA regulations, a summary plan description must be provided to a new plan member
within _____ days of the member's eligibility date. - 90



According to the Affordable Care Act (ACA), insurers can no longer deny health coverage due to pre-
existing conditions unless that plan is a - grandfathered plan



According to the Pregnancy Discrimination Act of 1978, employers must treat pregnancy in the same
manner as - any other medical disability

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