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ARIZONA LIFE AND HEALTH FINAL EXAM 2024 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: - correct answer Benfit payments and overinsurance A life insurance policy can usually be contested by the insurer only during the first ____ years of the contract - correct answer 2 years After an annuity has been in force for ____ years, it becomes incontestable - correct answer 2 ...

ARIZONA HEALTH/LIFE INSURANCE EXAM 2024 Which element of a contract constitutes a definite and unqualified proposal by one party to another? - correct answer Offer Skilled nursing facility expenses are sometimes covered by ___________, but ONLY if the insured was hospitalized prior to entering the facility. - correct answer Medicare Disability income policies provide protection for which of the following? - correct answer Economic Death Christine is receiving benefits provided from ...

AZ LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS -Secondary - correct answer A Contingent Beneficiary has the __________ right to collect an Insured's death benefit. -A uniform set of insurance regulations - correct answer What does the Producer Licensing Model Act (PLMA) provide? -A uniform set of insurance regulations -Disability income -A double payout -Private Life Maturity Assets -They are known for their very flexible payment terms - correct answer All but which of ...

ARIZONA LIFE AND HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT 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 c...

ARKANSAS LIFE INSURANCE EXAM 2024 J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - correct answer Twisting What is implied authority defined as? - correct answer Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall into what risk classification? - corr...

ARKANSAS LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS A life insurance premium is paid each month. The insurer then subtracts a mortality and expense charge from the policy's cash value. This best describes which of the following life insurance policies? A. Whole Life B. Variable Whole Life C. Universal Life D. Adjustable Whole Life - correct answer C. Universal Life What is the name of a single policy covering two or more lives that pays benefits upon the death of the first i...

ARKANSAS STATE LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Rob has a benefit at work which enables him to defer his current receipt of income and have it paid at a later date, when he will probably be in a lower tax bracket. Which benefit fits this description? - correct answer Income deferral option Who were Keogh plans designed to provide pension benefits for? - correct answer the self-employed What correctly describes a certificate of authority? - correct answer Permits an ins...

CA LIFE INSURANCE PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS A key person is typically all of the following, except: - correct answer -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct respo...

CA LIFE AND HEALTH EXAM 2024 WITH 100% CORRECT ANSWERS What is insurance? - correct answer Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? - correct answer Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? - correct answer peril is the causes of loss insured against in an insurance p...

Which of the following organs transports semen through the penis? - correct answer urethra Which of the following describes the location of the heart relative to the lungs? - correct answer anterior The rectum is a part of which of the following organs? - correct answer large intestine Which of the following types of variables is changed in a scientific experiment? - correct answer independent variable Which of the following type of reactions is shown below? CaCl2 + 2NaOH → Ca(OH)...