XCEL all chapter final exams/ insurance part 2 2024 Insurance Questions and Answers
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Course
Xcel
Institution
Xcel
XCEL all chapter final exams/ insurance part 2 2024 Insurance Questions and Answers
A policyholder has a major medical plan with a 80%/20% coinsurance and a deductible of $75. If the insured has previously met her deductible and receives a bill for $175, how much will the insurer pay? - ANS $14...
XCEL all chapter final
exams/ insurance part 2
2024 Insurance Questions
A
and Answers
VI
TU
A policyholder has a major medical plan with a 80%/20% coinsurance and a deductible
of $75. If the insured has previously met her deductible and receives a bill for $175, how
much will the insurer pay? - ANS $140
IS
The conversion privilege under a group life plan allows an employee to convert to a(n) -
ANS individual plan upon employment termination
M
The suicide clause of a life insurance policy states that if an insured commits suicide
within a stated period form the policy's inception, the insurer will only be liable for a
O
return of premiums paid - ANS minus indebtedness and without interest
A
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if - ANS the insured
N
outlived the beneficiary
Which of the following typically does Not provide a form of managed care? - ANS
JP
Major medical indemnity plan
When are group disability benefits considered to be tax-free to the insured? - ANS
when the recipient pays the premiums
Filed Underwriting performed by the producer involves - ANS completing the
application and collecting initial premium
,Pre-death distributions from a modified endowment contract (MEC) receive different tax
treatment than other life insurance policies because - ANS the MEC tends to be an
investment vehicle
A producer found to have engaged in unfair method of competition may be - ANS
Subject to license suspension or revocation
The waiver of premium dose Not include which provision? - ANS All future premiums
are waived if the insured recovers form the disability
A
Which of the following Correct regarding disclosure regulations - ANS it requires the
VI
delivery of the buyer's guide and a disclosure document to applicants
Part A Hospital expense coverage provided under Medicare is automatically made
TU
available to each of the following EXCEPT - ANS A 70-year old Not eligible for Social
Security
level premiums permanent insurance accumulates a reserve that will eventually - ANS
equal the face amount of the policy
IS
Coordination of benefits regulation applies to all of the following plans EXCEPT - ANS
Preferred Provider Organization plan
M
Long-term care policies sold in Washington must provide coverage for at least - ANS
O
12 months
Phil is shopping for an annuity that guarantees he CANNOT outlive the benefits. Which
A
of these benefit options would he choose? - ANS Guaranteed lifetime withdrawal
benefit
N
A disability income policy can prevent an insured form earning a higher income than if
JP
he/sh were working by utilizing - ANS benefit limits
Lisa has recently bought a fixed annuity. Which of these is considered to be a
disadvantage of owning this type of annuity? - ANS During periods of inflation,
annuitants will experience a decrease in purchasing power of their payments
Kurt is an active duty serviceman who was recently killed in an accident while home on
leave. Which military service exclusion clause would pay upon his death? - ANS
Results
, No legal action can be initiated after 5 years form the - ANS Initial time written proof of
loss has been provided
Someone needing custodial care at home would require which type of coverage? -
ANS Long-term care
The primary purpose of replacement regulation is to - ANS protect policy owners form
misrepresentations and loss of benefits
A
Written notice for a health claim must be given to the insurer ___ days after the
VI
occurrence of the loss. - ANS 20
An insurer must furnish to a claimant form for filing proof of loss within ___ days upon
TU
receiving a notice of claim. - ANS 15 days
decreasing term life insurance is often used to - ANS provide coverage for a home
mortgage
IS
The gatekeeper's role when used by an HMO is - ANS obtaining referrals to
specialists from primary care physicians
M
Reggie purchased a life insurance policy with a face amount of $500,000. After 15
years, the cash value has accumulated to $100,000 and the policy's face amount has
O
become $600,000. Which type of life insurance policy is this? - ANS Universal life
The open enrollment period for Medicare and Medicare Supplements begins ___ before
A
an individual's 65Th birthday. - ANS 3 months
N
What is the contract called that is issued to an employer for a group Medical insurance
plan? - ANS Master policy
JP
Life insurance policies will normally pay fro losses arising from - ANS commercial
aviation
Medicaid is a government-funded program designed to provide health care to - ANS
Poor people
Medicare Part B covers - ANS doctor's charges
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