EXAM BUNDLE ARIZONA LIFE AND HEALTH (COMPLETE PACKAGE) Questions & Answers 100% Correct!

Which of these is true regarding the exchange of consideration among parties involved in an insurance contract? - ANSWERCan be unequal The premiums paid by an employer for his employee's group life insurance are usually considered to be? - ANSWERTax-deductible to the employer Kevin has an exi...

A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) -reciprocal commissioner -attorney general -attorney-in-fact -reciprocal director - ANSWERattorney-in-fact Which of the following financial pro...

When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - ANSWERGive notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ANSWER9:00 PM A health plan offered by private ins...

Under a long-term care inflation rider, the benefit levels - ANSWERperiodically increase without proof of insurability In order for a health plan to be an "accountable health plan", who has to approve it? - ANSWERthe director Medicare Part A coinsurance payments are covered by - ANSWERMedica...

The purpose of the 'No loss No Gain' provision is to avoid duplication of _____ and _____ when an individual is covered under multiple group health insurance plans: - ANSWERBenfit payments and overinsurance A life insurance policy can usually be contested by the insurer only during the first __...

When issuing disability income coverage on a substandard risk, an insurance company may raise the deductible shorten the benefit period raise the benefit limits reduce the premium - ANSWERshorten the benefit period The amount of a covered loss to be paid by the insured before a ma...

Any administrative action taken against a producer MUST be reported to the director within ___ days after the final disposition. - ANSWER30 How many days notice does the Affordable Care Act require insurers to give before rescinding coverage? - ANSWER30 According to the Affordable Care Act, ne...

Inpatient Drugs - ANSWERMedicare Part A typically covers Military Families - ANSWERWhich of the following does TRI-CARE provide accident and health coverage to The insured's education, training, and experience - ANSWERWhat is taken into consideration when defining 'total disability' in a di...

An person filed a claim under two health insurance policies issued by the same insurer, the insurer might return: - ANSWERA. 50% of the lower of the two premiums, but pay all benefits under both policies B. Any annual premium amount in excess of $1,000 combined for both policies C. The premium amo...

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

Health coverage becomes effective when the: - ANSWERFirst premium has been paid and the application has been approved Accidental Injury only - ANSWERAny death benefit under a health insurance contract is limited to deaths The Fair Credit Reporting Act requires that.. - ANSWERThe applicant for ...

a health exclusion rider - ANSWERThe disability income policy most likely to have been issued on a substandard basis is non-cancelable with what? Same rates are charged for individual and group plans in the same geographical area - ANSWERHow does community rating for underwriting purposes determi...

Chris has a single medical contract which covers all medical expenses. His plan is considered to be - ANSWERComprehensive A life policy's spendthrift clause would have no effect if the beneficiary is paid the proceeds as a - ANSWERlump-sum payment What will medicare charge if someone doesn't...

Which of the following is NOT a dividend option for a life insurance policy? -Elect to take the dividends in cash -Allow the dividends to accumulate with interest -Use the dividends to pay all or part of the next premium due -Receiving the entire policy cash value - ANSWERReceiving the entire ...