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Arizona Life Insurance Midterm Exam Questions And All Correct Answers. $10.29   Add to cart

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Arizona Life Insurance Midterm Exam Questions And All Correct Answers.

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  • Arizona Life and Health Insurance
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  • Arizona Life And Health Insurance

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 th...

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  • September 26, 2024
  • 48
  • 2024/2025
  • Exam (elaborations)
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  • Arizona Life and Health Insurance
  • Arizona Life and Health Insurance
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Arizona Life Insurance Midterm Exam
Questions And All Correct Answers.
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 is a named beneficiary on a life insurance policy, the death benefits



1. are directed to a trustee if the insured has any outstanding debts



2. are paid directly to the insured`s creditors, with any remaining balance forwarded to the beneficiary



3. are paid directly to the beneficiary, minus any debt claims by the insured`s creditors



4. are paid directly to the beneficiary without interference from the insured`s creditors - Answer are
paid directly to the beneficiary without interference from the insured`s creditors



What determines how much an annuitant is paid for a variable annuity



1. varies according to how many outstanding annuitant is paid for a variable annuity

,2. payments fluctuate as annuitant gets older



3. the market value variations of the securities backing it



4. varies according to the insurers investments in its general account - Answer the market value
variations of the securities backing it



a terminated employee has how many days upon termination to convert group life insurance coverage to
an individual policy



10 days



15 days



30 days



31 days - Answer 31 days



Rick owns a variable universal life insurance policy and chooses a variable death benefit option. what will
typically happen to the death benefit as a result of this section



1. remain the same



2 decrease but never increase



3 increase but never decrease



4 fluctuate with changes in the cash amount - Answer fluctuate with changes in the cash amount

,the policy provision that permits an employee to change from group life insurance to an individual policy
is called



1 assignment provision



2 conversion provision



3 certificate provision



4 modification provision - Answer conversion provision



when the deferred annuity is surrendered, who must sign the authorization to do so



owner



annuitant and beneficiary



annuitant



all parties involved - Answer owner



Which of the following is NOT a valid contract exchange?



1. an annuity exchanged for a life insurance policy



2 an annuity exchanged for another annuity



3 a life insurance policy exchanged for another life insurance policy

, 4 a life insurance policy exchanged for another annuity - Answer an annuity exchanged for a life
insurance policy



which of these statements regarding the extended term insurance nonforfeiture option in a life policy is
accurate



evidence of insurability is required



coverage remains until death of the insured



the premium to purchase the coverage comes from the policy`s cash value



cash value will continue to grow - Answer the premium to purchase the coverage comes from the
policy`s cash value



a life insurance policy that includes a return of premium rider will pay the beneficiary how much upon
the insured death



total premiums paid plus the policy face amount



face amount plus interest



interest acquired plus total premiums paid



face amount minus any outstanding loan balances - Answer total premiums paid plus the policy face
amount



which of these is NOT considered the responsibility of a producer during the underwriting process



collecting additional medical information if needed

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