Arizona life and health practice exam

1. In Arizona, insurance producers are licensed and regulated by the:

1. Arizona Corporation Commission
2. State Insurance Board
3. Department of Revenue
4. Department of Insurance and Financial Institutions

2. How many CE hours must an Arizona producer complete for each license renewal?

1. 30 hours, including 3 hours of ethics
2. 48 hours, including 6 hours of ethics
3. 24 hours, including 3 hours of ethics
4. 16 hours, including 3 hours of ethics

3. Arizona licensees must keep their own continuing education records until:

1. The second renewal date after the period in which the credits were earned
2. 10 years after the course
3. The next renewal date
4. 5 years after the course

4. An Arizona licensee must inform the Director in writing of a change of residential, business, or email address within:

1. 30 days
2. 60 days
3. 90 days
4. 10 days

1. An Arizona life policy may exclude death by suicide that occurs within how long after the policy is issued?

1. 1 year
2. 3 years
3. 2 years
4. 6 months

2. When an Arizona life policy's exclusion applies, such as suicide within the exclusion period, the insurer must pay at least:

1. Nothing
2. A reserve determined under the commissioners reserve valuation method
3. The full face amount
4. Double the premiums paid

3. Which of the following exclusions does Arizona law allow in a life insurance policy?

1. Death from any illness diagnosed after issue
2. Death occurring more than 2 years after issue
3. Death from any accident
4. Death resulting from travel outside the continental United States and Canada

4. In Arizona, a reinstated life policy may be contested for material misrepresentation in the reinstatement for:

1. Only 30 days
2. An unlimited period
3. The same period, and with the same conditions, as the policy allows after original issue
4. No period, because reinstatement cannot be contested

5. Under Arizona's life insurance solicitation rule, a policy or policy summary must include an unconditional refund provision of at least:

1. 10 days
2. 20 days
3. 30 days
4. 45 days

1. In Arizona, an annuity purchaser who is age 65 or older on the date of application has a free look period of:

1. 45 days
2. 10 days
3. 20 days
4. 30 days

1. The Arizona Life and Disability Insurance Guaranty Fund covers life insurance death benefits up to:

1. $250,000
2. $300,000
3. $500,000
4. $100,000

2. The Arizona guaranty fund covers the present value of annuity benefits up to:

1. $500,000
2. $100,000
3. $250,000
4. $300,000

3. The Arizona guaranty fund covers health benefit plan benefits up to:

1. $500,000
2. $300,000
3. $100,000
4. $250,000

4. Arizona's guaranty association is officially called the:

1. Life, Accident and Sickness Guaranty Association
2. Life and Health Insurance Guaranty Association
3. Insurance Policyholder Protection Corporation
4. Life and Disability Insurance Guaranty Fund