Arizona Life and Health Insurance | Questions and answers with 100% correct solutions | Graded A+

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Any administrative action taken against a producer MUST be reported to the director within ___ days after the final disposition. ✔✔30 How many days notice does the Affordable Care Act require in... surers to give before rescinding coverage? ✔✔30 According to the Affordable Care Act, new health Insurance Marketplaces are established by the ✔✔CCIIO How long must a producer maintain customer records for an insurance transaction? ✔✔Three years Which statement best defines what a Policy title means on an insurance policy? ✔✔Ever policy Must have a title on the Face and on the back of the policy, briefly describing the policy. The refusal of doing business with an individual or business is called ✔✔Boycott Which of the following causes of disability is NOT covered under the Arizona workers comp law? ✔✔Intentional, self-inflicted injuries that occur at the work site In Arizona, the HIV consent form ✔✔Must disclose who will be receiving a copy of the test resultsThe telemarketing sales rules states that _______ is the LATEST time of the day that telemarketing calls may be received ✔✔9 PM Which of the following actions is considered to be an unfair trade practice ✔✔A producer who sells insurance to an individual by means of threat A statement must be signed by the ____ for any illustrations used in the sale of a life insurance policy ✔✔Producer In order for a health plan to be an "accountable health plan", who has to approve it ✔✔The director If a life insurance applicant is shown future premiums are to be paid out of non guaranteed values, the illustration used in the sales presentation MUST ✔✔Disclose that the premium payments may need to be resumed depending on actual results A producer is proposing that a policy owner replace an existing individual health insurance policy with a new one. Under the new contract, a pre existing conditions exclusion ✔✔May reduce the insured benefits The genetic information non discrimination act of 2008 bars all of the following EXCEPT ✔✔Prohibits the use of genetic information in health insurance, unless the applicant signs a waiver How many hours of initial long term care training must a producer complete before soliciting long term care products? ✔✔8 hoursGreg had recently been terminated from his Job that covered him for group life insurance. How long does he have to convert his coverage to an individual policy. ✔✔31 days Insurance crimes which affect the interstate commerce are prosecuted by the ✔✔US Attorney General An insurance producer must keep usual and customary records that pertain to transactions under the producers license, at their _________ ✔✔Principle place of business A policy owner decides to surrender the cash value of a whole life insurance policy. The insurer has up to ___ months to delay this payment ✔✔6 months If replacement was involved in the sale of a life insurance policy, a producer must provide a replacement notice no later than the ✔✔Application date According to the telemarketing sales rule, what is the earliest time of the day that telemarketing calls can be received? ✔✔8 AM According to the federal fraud and false statements regulation, what is required for a prohibited person to transact insurance business in this state? ✔✔Written consent from the state insurance regulatory agency Who manages the premiums collected from a groups members for a reciprocal insurer? ✔✔Attorney in factPrepaid dental plans differ from most other types of dental plans in what way? ✔✔Closed panel of dentists can only be used Replacement regulations exist in order to ✔✔Protect policy owners from misrepresentations and loss of benefits A ________ Company is licensed by the department of insurance to conduct insurance business in Arizona. ✔✔Authorized Life settlement proceeds may be subject to the claims of ✔✔Creditors Enrollees in a staff model HMO normally have which of the following pharmacy options available? ✔✔In House pharmacy A group Medicare supplement policy was terminated and not replaced by the insurer. In this situation, the insurer MUST ✔✔Provide an offer of conversion to individual coverage If a producer surrenders their license, how long must they wait to re apply for the same license? ✔✔One year An insurer must keep advertising materials and records for at least how many years? ✔✔3 years After an annuity has been in force for ______ years, it becomes incontestable. ✔✔2What will Medicare charge if someone doesn't enroll in certain Medicare programs or plans when they're first eligible? ✔✔Late enrollment penalty To protect information systems, producer, brokers, and insurance, companies must implement,and maintain a.... ✔✔Cybersecurity policy Which of the following is NOT a valid reason for an insurer to contest a life insurance policy during the policy's first two years of existence? ✔✔Misstatement of age Which of the following entities does NOT establish regulations for variable insurance products? ✔✔State Attorney General New born children are automatically covered under an existing families medical plan at the moment of birth for a period of _____ days ✔✔31 A consumer who has been recently denied insurance, credit, or employment based on an unfavorable consumer report MUST be advised as such. Which of the following does this statue originate from? ✔✔Fair Credit Reporting Act A loss of minimum essential coverage usually counts as a qualifying event that triggers what? ✔✔A special enrollment period The Arizona life and Disability insurance guaranty fund protects an insured person in the event of ✔✔The Insurers insolvencyIf a Medicare supplement policy is cancelled by the insurer, which of these circumstances does NOT require prior approval by the Arizona department of insurance? ✔✔non payment of premium. In Arizona, at least ___ employees are needed for s small employer medical expense plan. ✔✔2 An insured must wait _____ days to bring legal action against an insurer after written proof of loss has been received by the insurer. ✔✔60 If dividend option choices are offered on a whole life insurance policy, the policy MUST ✔✔Contain a statement that dividends are NOT guaranteed If an insured legally adopts a baby within ____ months of birth, the maternity coverage for the child's birth is covered. ✔✔6 a life insurance policy can usually be contested by the insurer only during the first ____ years of the contract ✔✔2 When does a family accident and health policy's coverage for a new born child begin? ✔✔At the moment of birth The application is part of the annuity contract according to the ✔✔Entire contract clause Most Medicare supplement information used by an insurer must be approved by the state. Which of the following types of information does NOT require state approval? ✔✔Government publicationsA _______ Insurer restricts the exposure it writes to those of its owners ✔✔Captive Participants of a small group medical plan MUST be given advance notice of at least ____ days prior to the plans discontinuation ✔✔180 Mentally or physically handicapped dependent children must be covered under an individual health insurance policy ✔✔Until they become self-supportive Which of the following actions may result in a producers license being suspended? ✔✔Misappropriation of premiums Insurance producer Kelly offers insured a $500 shopping card if they purchase an insurance product through her. What is this an example of? ✔✔Rebating What must be disclosed when a producer advertises a life insurance policy? ✔✔Name of the actual insurer. 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 ✔✔Benefit payments and overinsurance Which of the following is NOT a valid reason for an insurer to refuse renewal of an individual accident and health insurance policy? ✔✔The insured is currently in poor healthThe ACA ( Affordable Care Act) must ensure a sufficient choice of ______ in the marketplace ✔✔Providers A licensee or applicant who is ordered in the Active Military service make a request by ✔✔Written statement According to ACA insurers can no longer deny health coverage due to pre existing conditions unless that plan is a ✔✔Grandfathered plan An annuity contract may be returned for a full refund during the ✔✔Free look period Autopsies may be requested by an accident and health insurer ✔✔only if prohibited by the state law All of these are considered to be a violation of the federal fraud and false statements act EXCEPT ✔✔Claims reimbursement Which of these individuals may NOT obtain a temporary producers license? ✔✔An employee of a retired licensed producer An insured has been court ordered to provide a child's health insurance, Upon this order, the insurer must allow the enrollment of this child ✔✔At any time Life settlement brokers are NOT allowed to ✔✔Complete transactions prior to not being approved for a licenseWhat is the actuarial value of a bronze level health plan ✔✔60 An individual is seeking coverage for nursing home (custodial) care that does NOT require any previous period of hospitalization. Which program offers these specifications? ✔✔AHCCCS A ______ producer lives in another state and transacts insurance in Arizona ✔✔Nonresident Under which circumstance may an insurer discontinue a small employer group medical plan? ✔✔Insurer discontinues offering the plan to all employers What year was the mental health parity and addiction equity act established ✔✔2008 Which of these is NOT considered a preventative service in a dental plan? ✔✔Fillings [Show More]

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