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Insurance Licensing AZ-Insurance-Producer-Life Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| General Insurance | - Risk and insurance concepts
| |
| Insurance Regulation | 5% | - Arizona Insurance Laws and Regulations
|
| Life Insurance Basics | - Annuities
|
Insurance Licensing AZ-Insurance-Producer-Life Sample Questions:
Policy proceeds can be obtained in a lump sum and invested to create
- A. a viatical settlement.
- B. a cleanup fund.
- C. an estate.
- D. a readjustment fund.
Correct Answer: C 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
Which of the following statements is TRUE regarding Waiver of Premium Rider?
- A. The policy ' s cash value will continue to grow, but at a slower rate because the insured is no longer paying premiums.
- B. The death benefit will be reduced by the amount of the unpaid premiums.
- C. The insured will automatically become eligible for Accelerated Death Benefits.
- D. There will be no change in the policy ' s rates, benefits, or options other than that the insured no longer has to pay the premiums on the policy.
Correct Answer: D 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
Premiums paid on a personal life insurance policy are
- A. taxable when considered a return of premium.
- B. not tax deductible.
- C. taxable as ordinary income.
- D. considered to be a capital investment.
Correct Answer: B 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
Which provides for the continuation of a business if the owner dies prematurely?
- A. Buy-sell funding
- B. Key employee life insurance
- C. Deferred compensation
- D. Executive bonuses
Correct Answer: A 🗳️
Explanation: Only visible for ExamBoosts members. You can sign-up / login (it's free).
In addition to the actual policy, an entire contract includes which of the following?
- A. Provisions.
- B. Clauses.
- C. Credit report.
- D. The application.
Correct Answer: D 🗳️
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