Arizona life and health insurance Exam Questions And Answers. Verified And Updated.
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Course
Arizona life and health insurance
Institution
Arizona Life And Health Insurance
Arizona life and health insurance Exam
Questions And Answers. Verified And
Updated.
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 c...
EXAM STUDY MATERIALS July 25, 2024 1:06 PM Arizona life and health insurance Exam Questions And Answers. Verified And Updated. When the disclosure of an insured's nonpublic informati on is involved, what is the insurer obligated to do? - answer✔✔Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - answer✔✔9:00 PM A health plan offered by private insurance compani es is - answer✔✔Medicare Supplement Chris has a single major medical contract which covers all medical expenses. His plan is considered to be - 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 - 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 - answer✔✔Ten year term insurance for a person aged 55 All of the following are unfair claims settlement practices except - answer✔✔An attempt to settle a claim by arbitration What is covered under a limited accident and health insurance policy? - answer✔✔Limited perils and amounts A life insurance policy provision that has the ability to reduce the death benefit is called - 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 - answer✔✔Written proof of the occurrence and extent of loss How are monthly life annuity benefit payments treated under a tax sheltered annuity (TSA)? - 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? - answer✔✔The time period in which premiums will be paid EXAM STUDY MATERIALS July 25, 2024 1:06 PM Which of these is an accurate statement regarding the fixed period settlement option on a life insurance policy? - 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? - answer✔✔When not prohibited by state law A material change in a modified endowment contract (MEC) results in - answer✔✔the seven pay test, adjusted for cash value, being applied a gain Under an adjustable life insurance policy, which of the following may NOT be changed without further underwriting? - 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 - answer✔✔custodial care Employer -paid qualified long -term care insurance premiums are typically - answer✔✔Excluded from the employee's gross income. Which statement regarding the certificate of insurance is accurate? - answer✔✔Indicates evidence of an employee's insurance coverage Purchasing insurance is an example of risk - answer✔✔transference When an appl icant applies for a large amount of life insurance coverage, which of the following would likely NOT be an underwriting requirement? - 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 - answer✔✔Experimental and investigative services All of these statements concerning group credit life insurance are f alse EXCEPT - answer✔✔The face amount is determined by the outstanding loan balance Who may terminate coverage under and cancelable health insurance policy? - answer✔✔insurer or insured The interest credited to the cash values of personally -owned non -quali fied annuities is considered - answer✔✔tax deferred An insurer that confines or largely limits the exposures it writes to those of its owners is called - answer✔✔captive Dividends from a mutual insurance company are paid to whom? - answer✔✔Policyholders EXAM STUDY MATERIALS July 25, 2024 1:06 PM A business may purchase an annuity for all of the following reasons EXCEPT - 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 kn own as an - answer✔✔HMO In Arizona, and insurer providing small employer group medical plans may discontinue an employers coverage if - answer✔✔The insurer no longer offers the plan to any employer Which of the following statements is NOT true concerning t he relationship between group health insurance plans and Medicare? (Assuming the business has more than 20 employees) - answer✔✔Group health coverage is NOT available for workers over the age of 65 hold harmless clause is an example of risk - answer✔✔to transfer. Shifts liability for loss from one party to another What is a "functional assessment" for long -term care benefits? - answer✔✔A review of the insured ability to perform the activities of daily living Which is an accurate description of the premium in a graded premium life insurance policy? - answer✔✔Annual increases in premium for a stated number of years then levels off for the remainder of the contract Which of the following BEST describes a "partial disability" - answer✔✔Unable to perform one or more job duties An insured may be required to sign which document at policy delivery to ensure there has not been any adverse medical conditions since the time of the application? - answer✔✔A good health stat ement The Arizona Life and Disability Insurance Guaranty Fund protects an insured in the event of - answer✔✔The insurers insolvency After an applicant reads and signs an insurance application, he/she should be conscious of the fact that - answer✔✔a false s tatement could lead to loss of coverage How many days notice does the Affordable Care Act require insurers to give before rescinding coverage? - answer✔✔30 Who typically makes the purchase payments in an individual annuity? - answer✔✔owner Disability incom e policies provide protection for which of the following? - answer✔✔Economic death The reason for backdating a policy is - answer✔✔to obtain a premium rate based on an earlier age
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