Final Exam - Arizona Life and Health|| 150 QUESTIONS || CORRECT SOLUTIONS|| RATED A)
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Course
ARIZONA LIFE AND HEALTH
Institution
ARIZONA LIFE AND HEALTH
A signed good health statement may be requested by a life producer at the time of - ANSWER policy delivery
A licensee whose name or address changes must notify the Department of Insurance within _____ days. - ANSWER 30
Which statement regarding the cash value of a whole life insurance policy ...
Final Exam - Arizona Life and Health|| 150
QUESTIONS || CORRECT SOLUTIONS||
RATED A)
A signed good health statement may be requested by a life producer at the time of - ANSWER policy
delivery
A licensee whose name or address changes must notify the Department of Insurance within _____ days.
- ANSWER 30
Which statement regarding the cash value of a whole life insurance policy is correct? - ANSWER Available
to the policyowner when policy has been surrendered.
A life policy that has premiums that are lower than normal during the early years is called - ANSWER
Modified life
Which of the following actions would be considered a felony in the State of Arizona? - ANSWER
Attempting to defraud an a insurer
A major medical expense plan typically includes coverage for hospital room and board. Which of the
following is normally covered under the category "room and board"? - ANSWER General nursing care
What is the elimination period of an individual disability policy? - ANSWER Time period a disabled
person must wait before benefits are paid
What type of employee welfare plans are not subject to ERISA regulations? - ANSWER Church plans
A condition that increases the possibility of financial loss is called a(n) - ANSWER Hazard
, A life insurance beneficiary died after receiving only six payments under the policy's life income
settlement option. What happens with the remaining balance of the death proceeds? - ANSWER Kept by
the insurance company
An insurer markets its products by soliciting customers by mass media advertising and mail WITHOUT
using the services of a producer. Which of these marketing systems does the insurer utilize? - ANSWER
Direct response
An employer has a group life coverage for his employees. How would an employee in poor health be
treated in this situation? - ANSWER Eligible for the same type of coverage as the other employees
What does the term "field underwriting" refer to in the health insurance industry? - ANSWER A
producer's contact with the applicant
A comprehensive major medical health insurance policy contains an Eligible Expenses provision which
identifies the types of health care services that are covered. All of the following health care services are
typically covered EXCEPT for - ANSWER experimental and investigative services
Which report contains information regarding an individual's general reputation and credit standing? -
ANSWER A consumer report
What year was the Mental Health Parity and Addiction Act established? - ANSWER 2008
What will Medicare charge if someone doesn't enroll in certain Medicare programs or plans when
they're first eligible? - ANSWER late enrollment penalty
If a disability income policy contains a cost-of-living adjustment rider, benefits must typically be
increased - ANSWER at least once per year from when benefits begin
A policyowner has just borrowed from a life insurance policy's cash value. Which of these statements is
true? - ANSWER In the event of death, the loan amount is deducted from the policy proceeds
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