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Arizona life and health insurance Exam 236 Questions with Verified Answers,100% CORRECT
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Arizona life and health insurance Exam 236 Questions with Verified Answers
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Arizona life and health insurance Exam 236 Questions withVerified Answers
When the disclosure of an insured's nonpublic information is involved, what is the
insurer obligated to do? - CORRECT ANSWER Give notice, explain, and allow
opting out
Under the Telemarketing Sales Rule, telemarketing calls may NOT be received
after - CORRECT ANSWER 9:00 PM
A health plan offered by private insurance companies is - CORRECT ANSWER
Medicare Supplement
Chris has a single major medical contract which covers all medical expenses. His
plan is considered to be - CORRECT ANSWER comprehensive
In accident and health insurance, 60 days must pass after written proof of loss has
been received by an insurer before the insured may - CORRECT ANSWER Bring
legal action against the insurer
When a ten year renewable term life insurance policy issued at age 45 is renewed,
the premium rate will be the current rate for - CORRECT ANSWER Ten year term
insurance for a person aged 55
All of the following are unfair claims settlement practices except - CORRECT
ANSWER An attempt to settle a claim by arbitration
What is covered under a limited accident and health insurance policy? - CORRECT
ANSWER Limited perils and amounts
A life insurance policy provision that has the ability to reduce the death benefit is
called - CORRECT ANSWER Accelerated (living) benefit
If an accident and health insurance claim form is NOT supplied to the insured
within 15 says after the notice of claim, the insured may comply with the proof of
,loss provision by submitting - CORRECT ANSWER Written proof of the occurrence
and extent of loss
How are monthly life annuity benefit payments treated under a tax sheltered
annuity (TSA)? - CORRECT ANSWER Taxed as ordinary income in the year received
How does a continuous premium whole life policy differ from a limited payment
whole life policy? - CORRECT ANSWER The time period in which premiums will be
paid
Which of these is an accurate statement regarding the fixed period settlement
option on a life insurance policy? - CORRECT ANSWER A portion of the payments
paid to the beneficiary comes from interest calculated on the proceeds of the
policy
Under what circumstance does an accident and health insurer have the right to
request an autopsy? - CORRECT ANSWER When not prohibited by state law
A material change in a modified endowment contract (MEC) results in - CORRECT
ANSWER the seven pay test, adjusted for cash value, being applied again
Under an adjustable life insurance policy, which of the following may NOT be
changed without further underwriting? - CORRECT ANSWER The person insured
Linda is covered with long-term care insurance and has early-stage Alzheimer's.
She is still able to reside in her home while receiving primary care, as opposed to
moving into a nursing home. All of the following long-term benefits encourage
this EXCEPT for - CORRECT ANSWER custodial care
Employer-paid qualified long-term care insurance premiums are typically -
CORRECT ANSWER Excluded from the employee's gross income.
Which statement regarding the certificate of insurance is accurate? - CORRECT
ANSWER Indicates evidence of an employee's insurance coverage
Purchasing insurance is an example of risk - CORRECT ANSWER transference
, When an applicant applies for a large amount of life insurance coverage, which of
the following would likely NOT be an underwriting requirement? - CORRECT
ANSWER eye examination
A comprehensive major medical health insurance policy contains an eligible
expenses provision which identifies the type of health care services that are
covered. All of the following health care services are typical covered EXCEPT for -
CORRECT ANSWER Experimental and investigative services
All of these statements concerning group credit life insurance are false EXCEPT -
CORRECT ANSWER The face amount is determined by the outstanding loan
balance
Who may terminate coverage under and cancelable health insurance policy? -
CORRECT ANSWER insurer or insured
The interest credited to the cash values of personally-owned non-qualified
annuities is considered - CORRECT ANSWER tax deferred
An insurer that confines or largely limits the exposures it writes to those of its
owners is called - CORRECT ANSWER captive
Dividends from a mutual insurance company are paid to whom? - CORRECT
ANSWER Policyholders
A business may purchase an annuity for all of the following reasons EXCEPT -
CORRECT ANSWER Informally finding a non-qualified deferred compensation plan
An organization that requires healthcare services to be provided by a network of
physicians and hospitals is known as an - CORRECT ANSWER HMO
In Arizona, and insurer providing small employer group medical plans may
discontinue an employers coverage if - CORRECT ANSWER The insurer no longer
offers the plan to any employer
Which of the following statements is NOT true concerning the relationship
between group health insurance plans and Medicare? (Assuming the business has
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