Free Life Policy Provisions Options and Riders Practice Questions
Arizona Life, Accident & Health exam (series 13-33) — 99 practice questions.
Subtopics: Contestable period, Policyowner rights, Irrevocable beneficiary, Grace period, Reinstatement, Nonforfeiture options, Automatic premium loan, Settlement options, Waiver of premium rider, Accidental death rider, Guaranteed insurability, Child rider, Accelerated death benefit, Grace period claims, Misstatement of age, Reinstatement interest, Reinstatement contestability, Death claim settlement, Incontestability limits, Policy loan interest, Premium payment, Simultaneous death, Replacement free look, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Policy loans, Dividend options, Riders, Incontestable clause, Suicide clause, Primary beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, Incontestability, War exclusion, Aviation and avocation exclusions, Exclusions, Dividends, Accelerated benefits, Premium modes, Free look, Entire contract, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. An Arizona life policy becomes incontestable, except for nonpayment of premium, after it has been in force during the insured's lifetime for:
Two years from the date of issue
A.R.S. 20-1204 requires incontestability after two years in force during the insured's lifetime, except for nonpayment of premiums.
2. The owner of a life insurance policy generally has the right to:
Name and change a revocable beneficiary
Ownership rights include assignment and beneficiary designation.
3. A beneficiary designation that cannot be changed without the beneficiary's consent is:
Irrevocable
An irrevocable beneficiary must consent to changes.
4. During the 30-day grace period required for Arizona individual life policies:
The policy continues in full force
A.R.S. 20-1203 keeps the policy in full force during the grace period.
All Life, Accident & Health topics
Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
