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XCEL Ohio Life and Health Practice Exam Exam Prep Questions And Answers ()
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XCEL Ohio Life and Health State Practice Exam Prep Questions AndAnswers (202472025)
Which of these describes the result of a modified endowment contract that failed to meet the seven-
pay test? - ✔✔Pre-death distributions are typically taxable.
A medical provider that accepts Medicare Assignment must - ✔✔accept payment based upon a
defined Medicare schedule as payment in full.
Which of the following statements regarding Group Disability Income Insurance is TRUE? - ✔✔It
provides benefits for nonoccupational illness and injuries.
The taxable portion of each annuity payment is calculated using which method? - ✔✔Exclusion
Ratio
An example of a health insuring corporation (HIC) speciality care is an - ✔✔neurologist
An accident and health policy that provides reimbursement benefits makes them payable to the -
✔✔insured
Which of the following would disqualify a company's retirement plan for receiving favorable tax
treatment? - ✔✔It is temporary
Janice forgot to make her insurance premium payment by the due date. The specified period after
the due date where she can still make payment and avoid discontinuance of her coverage is called
the - ✔✔grace period
Andy the annuitant dies before the annuity start date. Which of the following is a TRUE statement?
- ✔✔Premiums paid plus interest earned is returned to the beneficiary
The difference between the Long Term Care Partnership and a Non-Partnership Plan is which of
the following? - ✔✔Asset protection
, Intentional withholding of material facts that would affect an insurance policy's validity is called
a(n) - ✔✔concealment
Under group health insurance, a certificate of coverage is issued to the - ✔✔employee
The deeds and actions of a producer indicate what kind of authority? - ✔✔Apparent
Which of these factors would an insurer consider when determining whether to accept a group life
plan? - ✔✔Average age
Under a non-qualified annuity, interest is taxed after the - ✔✔exclusion ratio has been calculated
A policy owner can receive an immediate payment before the insured dies by using an - ✔✔viatical
settlement contract
What guarantees that the statements supplied by an insurance applicant are true? - ✔✔Warranty
A tax-free Section 1035 Exchange of a life insurance policy to a different policy is permitted it it
occurs - ✔✔from insurer to insurer and no cash is received by the policy owner
Long-Term Care policies or certificates issued in Ohio are required to have - ✔✔a nonforfeiture
value
Life insurance policies will normally pay for losses arising from - ✔✔commercial aviation
A life insurance rider that allows an individual to purchase insurance as they grow older, regardless
of insurability is called an - ✔✔guaranteed insurability rider
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