XCEL TESTING SOLUTIONS-LOUISIANA LIFE AND HEALTH EXAM 2024/2025 WITH 100% CORRECT ANSWERS
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XCEL
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XCEL
XCEL TESTING SOLUTIONS-LOUISIANA LIFE AND HEALTH EXAM 2024/2025 WITH 100% CORRECT ANSWERS
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XCEL TESTING SOLUTIONS-LOUISIANA LIFE AND HEALTH EXAM
2024/2025 WITH 100% CORRECT ANSWERS
Which dividend option would an insurer invest the policy owner's money and add
any interest earnings as the dividends accrue?
-Accumulation at Interest Option
-Cash Dividend Option
-Paid-Up Additions Option
-One-Year Term Dividend Option - correct answer -The Accumulation at Interest
Option -
invests the policy owner's money and adds interest earnings to the initial amount of
the dividends.
Decreasing term life insurance is often used to?
-provide retirement funds
-provide coverage for a home mortgage
-accumulate cash value
-provide coverage for estate taxes - correct answer -Provide coverage for a home
mortgage-
A common use for decreasing term life insurance is to cover a home mortgage.
Written notice for a health claim must be given to the insurer ___ days after the
occurrence of the loss.
-10-20-31-60 - correct answer -20
,Written notice for a health claim must be given to the insurer 20 days after the
occurrence of the loss.
In order to activate the reinstatement clause of a lapsed life insurance policy, the
insured MUST
- remit all past-due premiums within the grace period
- provide evidence of insurability to the insurer
- resubmit a new life insurance application
-provide a valid reason for the lapse - correct answer -provide evidence of
insurability to the insurer
The suicide clause of a life insurance policy states that if an insured commits
suicide within a stated period from the policy's inception, the insurer will only be
liable for a return of premiums paid
- minus indebtedness and with interest
- during the last 12 months
-minus indebtedness and without interest
- during the last 6 months - correct answer -minus indebtedness and without
interest
The suicide clause of a life insurance policy states that if an insured commits
suicide within a stated period from the policy's inception, the insurer will only be
liable for a return of premiums paid minus indebtedness and without interest.
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured?
- Policy Dividend
- Specified amount of money
- Policy's cash value
,- Funeral expense fund - correct answer -Specified amount of money
Life insurance guarantees to the beneficiary a specified sum of money in the event
of the insured's death.
An insurance producer is often responsible for field underwriting during the
application process. All of these are possible field underwriting roles EXCEPT
- providing disclosure information to the applicant
- collecting initial premium
- policy delivery
- providing commission information to the applicant - correct answer -providing
commission information to the applicant
All of these are field underwriting roles an insurance producer may perform
EXCEPT "providing commission information to the applicant".
Krissa purchases a 10-year level term life insurance policy that has a death benefit
of $200,000. Which of these statements is true?
- The policy automatically converts to whole life after the 10-year period
- The face amount will remain constant and the premium will increase over the 10-
year period
The premium will remain constant and the face amount will increase over the 10-
year period
The face amount and premium will remain constant over the 10-year period -
correct answer -The premium will remain constant and the face amount will
increase over the 10-year period
"The face amount and premium will remain constant over the 10-year period". In
this situation, the premium and the face amount will remain constant for the 10-
year period.
, When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)?
- When a change of management has occurred within the group
- When the annual number of claims has increased by 25%
- When contribution or participation rules have been violated
-When group participation has increased by 25% - correct answer -When
contribution or participation rules have been violated
According to HIPAA, a group health policy renewal can be denied when
participation or contribution rules have been violated.
Which of the following is Medicare Part B also known as?
- Hospital insurance
-Medical insurance
-Long- Term Care Insurance
-Medigap - correct answer -Medical Insurance
Medicare Part B covers most medically necessary doctors' services, preventive
care, durable medical equipment, hospital outpatient services, laboratory tests, x-
rays, mental health care, and some home health and ambulance services. You pay a
monthly premium for this coverage.
A group life policy terminates a class of participants. To qualify for an individual
policy, an employee must do which of the following?
- Prove that he is insurable
- Have been insured at least 5 years
- Apply for the new policy within 30 days
- Pay at least two premiums in advance - correct answer -Have been insured at
least 5 years
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