Arizona Life and Health Insurance Final Exam QUESTIONS & SOLUTIONS RATED A+
4 views 0 purchase
Course
Arizona Life and Health Insurance
Institution
Arizona Life And Health Insurance
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 doesn'...
Arizona Life and Health Insurance Final
Exam QUESTIONS & SOLUTIONS RATED A+
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 doesn't enroll in certain Medicare programs or plans when
they're first eligible? - ANSWER late enrollment penalty
A policy owner is permitted to take out a policy loan on a whole life policy at what point? - ANSWER
When the policy has a cash value
An accident and health insurance policy's premium requirements are set forth in which of the following
provisions? - ANSWER Consideration Clause
In Arizona, at least __ employee(s) are needed for a small employer medical expense plan. - ANSWER 2
A certificate of coverage for a group health policy is best described as - ANSWER proof of coverage for
the employee
Which of these is NOT an advantage of term life insurance? - ANSWER A cash benefit will be provided if
the insured is alive at the end of the policy period
What happens to the purchasing power of benefit payments from a fixed life annuity when the cost of
living goes up? - ANSWER Decreases
, A client applies for an individual accident and health policy in Arizona. If the insurer collects personal
information from any source other than public records or the applicant, a notice of application practices
MUST be given to the applicant no later than the - ANSWER Application date
What is the excise tax rate the IRS imposes of individuals aged 70 1/2 or older who do not take the
required minimum distributions from their qualified retirement plan? - ANSWER 50%
Field underwriting by a producer - ANSWER may result in the disclosure of hazardous activities of the
applicant
When using the needs approach for life insurance planning, a lump sum may be created to provide for all
of the following except: - ANSWER Employee Benefits
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? - ANSWER Split-dollar
Which statement regarding the life insurance premium for a children's rider is true? - ANSWER Premium
remains the same no matter how many children
Rick recently died and left behind an individual IRA account in his name. His widow was forwarded the
balance of the IRA. The transfer of Rick's IRA account balance to his surviving spouse qualifies for -
ANSWER the marital deduction
Which the following is NOT an intended use of an annuity? - ANSWER Create new funds upon the death
of a wage-earner
In the event of premium default, which life insurance provision will use the cash value to keep the policy
in force? - ANSWER Automatic Premium Loan
Tim is in need of surgery. Before being hospitalized, he is referred to an outpatient clinic for diagnostic
tests. What is this an example of? - ANSWER Pre-admission testing
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller shantelleG. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
