Insurance Licensing AZ Insurance Producer Life Exam Syllabus

Licensing
License application requirements (20-285)
Number of exam attempts 20-284(H)
Licensing eligibility/lawful presence (41-1080)
Types of licensees
Producers (20-281(5), 286)
Nonresidents (20-281(11))
Adjusters (20-321)
Life Settlement Broker (ARS 20-3202)
Business entities (20-281(1), 285(D, E), 290(B))
Surplus lines brokers (20-407, 411)
Temporary (20-294)
Vending machines (20-293)
Lines of producer license authority (20-286, (A), 321, 331, 332, 411, 411.01, 1580, 1693.01, 2662)
Fingerprinting requirements (20-142(E), 285(E), 286(C), 289(D))
Assumed business name (20-297)
Maintenance and duration
Expiration, surrender and renewal (20-289)
Inactive license status during military service (20-289.01)
Change of personal contact information (20-286(C))
Change of business information (20-286)(C))
Business information (20-286)(C))
Report of actions (20-301)
Continuing education (20-2902, 2903)
Disciplinary actions
Denial, suspension, revocation or refusal to renew; civil penalties (20-295, 296)
Cease and desist order (20-292)
State regulation
Acts constituting insurance transaction (20-106, 282, 401.01)
Negotiate (20-281(10))
Sell (20-281(14))
Solicit (20-281(15))
Payment of premiums (20-191)
Certificate of authority (20-217(A))
Identification of Producer (20-229)
Producer regulation
Sharing commissions (20-298)
Place of business and records (20-157, 290; AZ Const Art 14 s 16)
Unfair practices and frauds
Unfair trade practices (20-442)
Misrepresentation (20-443, 443.01, 447; Rule R20-6-801(D))
False or deceptive advertising (20-444)
Defamation of insurer (20-445)
Boycott, coercion or intimidation (20-446)
False financial statements (20-447)
Unfair discrimination (20-448)
Gender discrimination (Rule R20-6-207)
Rebating (20-449–451)
Prohibited inducements (20-452)
Fees (20-465)
Unfair claims settlement practices (20-461; Rule R20-6-801)
Claims payment (20-462)
Insurance fraud (20-463, 466–466.04)
Insurance information and privacy protection (20-2101–2122)

Fair Credit Reporting Act (15 USC 1681–1681d)
18 United States Code (USC) Sections 1033 and 1034 - Purpose (Letter of Written Consent)
National Do Not Call List
Violent Crime Control and Law Enforcement Act (20-489; 18 USC 1033, 1034; 15 USC 6101-6108;
ARS 44-1282)
Telemarketing Sales Rule (16 CFR 310; 15 USC 6101–6108; A.R.S. 44-1282)
CAN-SPAM Act of 2003 (15 USC 7701; 18 USC 1037)
Gramm-Leach-Bliley Act (20-2121; Public Law 106-102)
Terrorism Insurance Program (15 USC 6701; Public Law 107-297, 109-144, 110-160)

Risk
Methods of Handling Risk (Avoidance, Retention, Sharing, Reduction, Transfer)
Elements of Insurable Risks
Definitions (Risk, Hazard, Peril, Loss)
Classifications of Insurers
Mutual, Stock, Fraternals
Admitted, Non-Admitted
Foreign, Domestic, Alien
Elements of a Contract
Consideration
Competent Parties
Legal Purpose
Offer
Acceptance
Authority and Powers of Producers
Express
Implied
Apparent
The Law of Agency
Legal Interpretations Affecting Contracts
Reasonable Expectations - good faith
Indemnity
Good Faith
Fraud
Warranties, Representations, Misrepresentations, and Concealment

Insurable Interest
Personal Uses of Life Insurance
Survivor Protection
Liquidity
Determining Amount of Personal Life Insurance
Human Life Value Approach
Needs Approach
Business Uses of Life Insurance
Buy-Sell Funding
Key Person
Executive Bonuses
Factors in Premium Determination
Mortality
Interest
Expense
Premium Frequency
Field Underwriting
Application Procedures
Warranties and Representations
Policy Delivery
Effective Date of Coverage
Policy Review
Premium Collection
Statement of Good Health
Company Underwriting
Sources of Information
Classifications of Risk (Preferred, Standard, Substandard, Declined)

Term Life Insurance
Level
Decreasing
Increasing Term
Whole (Permanent, Ordinary) Life Insurance
Single Premium
Continuous Premium
Limited Payment
Adjustable Life
Universal Life
Variable Life
Variable Universal
Indexed Universal Life
Specialized Policies
Joint Life
Survivorship Life
Juvenile
Group Life Insurance
Eligible Groups
Characteristics of Group Life Insurance

Standard Life Insurance Provisions
Ownership
Assignment
Right to Examine (Free Look)
Payment of Premiums
Grace Period
Misstatement of Age/Sex
Incontestability
Reinstatement
Entire Contract
Beneficiary Designation Options
Individuals
Classes
Minors
Types of Beneficiaries
Primary and Contingent
Beneficiary-Related Clauses
Common Disaster
Settlement Options
Cash Payment (Lump Sum)
Interest Only
Life Income
Fixed-Period
Fixed-Amount Installments
Joint
Last Survivor
Nonforfeiture Options
Cash Surrender Value
Extended Term
Reduced Paid-Up Insurance
Policy Loan and Withdrawal Options
Loans
Automatic Premium Loans
Withdrawals Partial Surrenders
Dividend Options
Paid-Up Additions
Cash Payment (Lump Sum)
One Year Term
Reduction of Premium
Accumulation at Interest
Disability Riders
Waiver of Premium
Disability Income Benefit
Payor Benefit Life
Riders Covering Additional Insureds
Spouse
Children
Family term rider
Riders Affecting Death Benefit Amount
Accidental Death
Guaranteed Insurability
Cost of Living
Return of Premium
Accelerated (Living) Benefit Provision Rider
Long-Term Care Rider
Policy Exclusions

Annuity Principles and Concepts
Accumulation Period versus Annuity Period
Owner, Annuitant, and Beneficiary
Immediate versus Deferred Annuities
Annuity (Benefit) Payment Options
Life Contingency Options
Annuities Certain
Pure Life versus Life with Guaranteed Minimum
Single Life versus Multiple Life
Annuity Products
Fixed Annuities
Equity Indexed Annuities
Variable Annuities
Uses of Annuities
Lump-Sum Settlements
Retirement Income
Long-Term Care Rider
Guaranteed Minimum Withdrawal Benefit (GMWB)

Taxation of Personal Life Insurance and Annuities
Premiums
Dividends
Settlements
Last In First Out (LIFO) and First In First Out (FIFO)
Surrenders and Withdrawals
Modified Endowment Contracts (MECs)

https://proctor2.psionline.com/media/programs/AZINS/life1.pdf