1 Arizona Life and Health Pre-licensing Certification Exam Newest 2025/2026 Complete All Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!!
James owns a business and purchased a policy that covers the business expense of finding a permanent or temporary employee to replace a disabled one. This type of disability coverage is called - ANSWER-Key employee coverage
The conversion option for group term insurance may be exercised by an employee - ANSWER-within 31 days of terminated employment
Which of the following can be defined as a cause of a loss? - ANSWER- Peril
K is an agent who takes an application for individual accident and health insurance and accepts a check from the client. He submits the application and check to the insurance company, however the check was never signed by the applicant. If the application is approved, when will coverage be effective? - ANSWER-The date the producer delivered the policy, collected the initial premium, and obtained a good health statement from the insured
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2 Which statement is NOT true regarding health insurance policies that provide limited benefits? - ANSWER-Only persons under the age of 65 are eligible
The reason for backdating a policy is - ANSWER-to obtain a premium rate based on an earlier age
Which statement regarding the cash value of a whole life insurance policy is correct? - ANSWER-Available to the policyowner when policy has been surrendered
Switching Life insurance policies without tax consequence is permitted under - ANSWER-Section 1035 rules
Medicare will cover a maximum of how many days per benefit period in a skilled nursing facility? - ANSWER-100 days
What is the eligibility requirement for Medicare Part B? - ANSWER- Must be eligible for Medicare Part A
What is considered a valid reason for small corporations to insure the lives of its major stockholders? - ANSWER-Fund a buy-sell agreement
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3 When using the needs approach for life insurance planning, a lump sum may be created to provide for all of the following EXCEPT - ANSWER- Employee benefits
In order to contribute to a Health Savings Account (HSA), - ANSWER- the applicant must be enrolled in a High Deductible Health Plan (HDHP)
What is considered the collateral on a life insurance policy loan? - ANSWER-The policy's cash value
The initial premium for a life insurance policy is typically paid in what way? - ANSWER-It is typically obtained by the producer and forwarded to the insurer
Larry has a Major Medical Expense policy for his family with a $1,000 per family/per year deductible and an 80/20 coinsurance provision. If Larry's family files four claims of $400, $800, $100, and $700 in one year, how much will the insurance company pay? - ANSWER-$800
In this situation, the insurer will pay $800. $400 + $800 + $100 + $700 = $2,000. The insurance company pays 80% of $1,000
Tonya has been diagnosed with kidney failure and is covered by group accident and health insurance through her large employer. Which of these accident and health plans will be primary during the months 3 / 4
4 immediately following her diagnosis? - ANSWER-Her employer's group accident and health plan
How are level term policies able to provide level premiums? - ANSWER-Premiums are averaged over the term of the policy
The death proceeds of a credit life insurance policy are typically paid to the - ANSWER-lender
Long Term Care policies will usually pay for eligible benefits using which of the following methods? - ANSWER-Expense incurred
When does the producer give a premium receipt for a life insurance application? - ANSWER-When the initial premium has been paid with the application
An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium. When will the policy become effective? - ANSWER-When the conditions of the receipt are met
Which of the following health insurance plans charges a premium that cannot be increased? - ANSWER-Noncancelable
A policyowner has a life insurance policy where she had listed her age on the application as 5 years younger than her actual age. If she dies and
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