XCEL Life and Health Insurance Test Review Complete Guide
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Course
XCEL Life and Health Insurance
Institution
XCEL Life And Health Insurance
XCEL Life and Health Insurance Test Review Complete Guide
Which annuity payout option allows the policyowner to select a pre-determined number of benefit
payments?
Period Certain
Which annuity payout option provides no further payments regardless of when the annuitant passes
away?
...
XCEL Life and Health Insurance Test Review Complete Guide
Which annuity payout option allows the policyowner to select a pre-determined number of benefit
payments?
✔ Period Certain
Which annuity payout option provides no further payments regardless of when the annuitant passes
away?
✔️ Life only annuity
What term refers to a professional liability for which agents can be sued for mistakes made in putting a
policy into effect?
✔️ Errors and Omissions
What type of beneficiary requires the beneficiary's signature for any changes to the designation?
✔️ Irrevocable beneficiary
What are the statements made by an insurance applicant on an application called?
✔️ Representations
What do life insurance policies guarantee the beneficiary upon the death of the insured?
✔️ A specified amount of money
What is a common exclusion found in dental policies?
✔️ Endodontics
Which type of long-term care benefit would be the most suitable for a stroke victim who needs speech
therapy at home?
✔️ Home health care
,According to the Affordable Care Act, any plan that existed prior to what date is considered a
grandfathered plan?
✔️ March 23, 2010
Which of the following is NOT categorized as a Medicare Advantage Plan?
✔️ Social Security Disability Income (SSDI)
Which plan does the Coordination of Benefits regulation not apply to?
✔️ Preferred Provider Organization plan (PPO)
How many days do both long-term care insurance and Medicare Supplement policies offer for a full
refund if returned by the insured?
✔️ 30 days
Which type of coverage provides a daily payment for hospitalization directly to the insured, regardless of
other health insurance?
✔️ Hospital Indemnity
What kind of health insurance policies can exclusively cover low-frequency diseases?
✔️ Limited Policies
What type of injury would NOT be covered by a health insurance policy?
✔️ Work-related
Without a Section 125 Plan in place, what would happen to an employee’s payroll contribution to an
HSA?
✔️ It would be considered taxable income to the employee
How can a single premium cash value policy be described?
✔️ A policy that is paid up after only one payment
, What is required for someone to become eligible for Part D: Prescription Drug coverage?
✔️ Must have Medicare coverage
What is an example of endodontic treatment?
✔️ Root canal
Under US Code 1033, who prosecutes crimes affecting persons involved in the insurance business
impacting interstate commerce?
✔️ US Attorney General
What would be an expense factor in an insurance program?
✔️ Mortality costs
Which of the following signatures is not needed on an individual insurance application?
✔️ Insurer
Which of the following is NOT defined as supplemental health insuring corporation (HIC) services?
✔️ Outpatient medical services
What does "Maximum benefits" refer to in an insurance context?
✔ The upper limit of the total lifetime benefits the insurance company will pay
Whose signature is NOT required from the following on an insurance application?
✔️ The beneficiary
What happens to the coverage under a children's term rider when the child reaches a specified age?
✔️ Coverage is eliminated
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