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XCEL LIFE INSURANCE FINAL EXAM 2024 XCEL SOLUTIONS LIFE INSURANCE EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A+ $28.49   Add to cart

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XCEL LIFE INSURANCE FINAL EXAM 2024 XCEL SOLUTIONS LIFE INSURANCE EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A+

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XCEL LIFE INSURANCE FINAL EXAM 2024 XCEL SOLUTIONS LIFE INSURANCE EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A+

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  • August 1, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • XCEL LIFE INSURANCE
  • XCEL LIFE INSURANCE
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XCEL LIFE INSURANCE FINAL EXAM 2024 XCEL SOLUTIONS LIFE INSURANCE EXAM QUESTIONS AND CORRECT DETAILED ANSWERS GRADED A + when contribution or participation rules have been violated - When can a group health policy renewal be denied according to the Health Insurance Portability and Accou ntability Act (HIPAA)? 100 days - Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond blood test for HIV - An insurer has a right to screen applicants for HIV in which of the following ways? 100% of the billed amount - A closed network plan offers a a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay provides a greater choice of providers - When comparing an HIC to a PPO, the PPO an individual the means to replace wages - Loss of income insurance provides guaranteed renewable policy - A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called a(n) grace period - An insurer will accept a premium from the insured and continue the coverage in full force as though it was NOT late during which time period? fraud - A deliberate lie by an insured to the insurer to obtain a lower premium is an example of because dividends are considered to be a return of premium - Why are dividends from a mutual insurer not subject to taxation? revoke an absolute assignment - A life insurance policyowner does NOT have the right to allows the secondary payor to reduce their benefit payment so that no more than 100% of the claim is paid - Which of the following does Coordination of Benefits allow? 10 days - With the majority of companies, within how many days does the free -look provi sion allow the insured the right to return the life insurance policy for full premium? Accumulation at interest - Of the following dividend options, which of these is taxable? be the same and the premium cannot exceed 102% - Under the Consolidated Omnibu s Budget Reconciliation Act (COBRA), a terminated employee's benefits must "To the children born of my union with Ned Jackson" - An example of naming a beneficiary by class would be funded by federal, state and local taxes - Which of these statements abo ut Medicaid is CORRECT? avoid overpayment of claims - The purpose of the Coordination of Benefits provision in group accident and health plans is to an insurer can require a blood test for HIV - Which of the following statements is TRUE about an insurer' s right to screen applicants for HIV? must have an appointed guardian - To receive proceeds from a death benefit, a minor After first premium is paid, the face amount may be available to the beneficiary - How does life insurance create an immediate estat e? Child term rider - Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which of the following products would allow him to accomplish this? Gains - When a qualified plan starts making payments to its recipie nt, which portion of the distributions is taxable? 0 months - If a Medicare Supplement policy replaces another that had been in effect for at least 6 months, the replacing policy may impose which of the following time exclusions for pre -existing condition s? Straight life - Which of these will have the highest monthly payout upon annuitization? 30 calendar days - After a request has been received for verification from a viatical settlement provider, an insurance company authorized to do business shall respond within Period Certain - Which annuity payout option allows the policy owner to choose a pre -
determined number of benefit payments? Life only annuity - Which annuity payout option has no additional payouts regardless of when the annuitant dies Errors and Omissions - a professional liability for which producers can be sued for mistakes of putting a policy into effect irrevocable beneficiary - requires the beneficiary's signature for any change to the beneficiary representations - statements made by an insurance applicant on an application a specified amount of money - life insurance policies guarantee the beneficiary what upon the death of the insured Endodontics - common exclusion on a dental policy Home healt h care - Which type of long -term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? March 23, 2010 - According to the Affordable Care Act, any plan in existence prior to which date is considere d a grandfathered plan? Social Security Disability Income (SSDI) - Which of the following is NOT a type of Medicare Advantage Plan? Preferred Provider Organization plan (PPO) - Coordination of Benefits regulation applies to all of the following plans EXC EPT 30 days - Both long -term care insurance and Medicare Supplement policies may be returned by the insured for a full refund within Hospital Indemnity - Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? Limited Policies - Low frequency diseases can be exclusively covered by what kind of health insurance policies? Work -related - What type of injury would NOT be covered under a health insurance policy? It would b e considered taxable income to the employee - Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? a policy that is paid up after only one payment - A single premium cash value policy can be described as Must have Medicare coverage - How does one become eligible for Part D: Prescription Drug coverage?

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