Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Q&A.
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Course
Xcel Solutio
Institution
Xcel Solutio
Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Q&A. Terms like:
The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - Answer: insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from Th...
Xcel Testing Solutions- Life and Health
Insurance- Weighted Exam- 150 Q&A.
The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - Answer: insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The
Do Not Call Registry
The type of policy where the insurer can send a notice to the insured that the
policy has been cancelled in the middle of the term is called - Answer: cancelable
The renewability provision in a cancelable policy allows the insurer to cancel or
terminate the policy at any time, simply by providing written notification to the
insured and refunding any advance premium that has been paid.
Page 1 of 33
,Barbara's policy includes a rider which allows her to purchase additional insurance
at specific dates or events without evidence of insurability. This rider is called a(n)
- Answer: Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional
insurance at specific dates or events without evidence of insurability.
Disability Income plans which require that the insurer can NEVER change or alter
premium rates are usually considered - Answer: Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be
increased under any circumstances.
In what part of an insurance policy are policy benefits found? - Answer:
Declarations
Essentially, the insurance declaration page is like a quick guide to the insurance
policy, providing all of the basic information the policyholder needs to know.
What happens if the insurer discovers that the insured's age was accidentally
misstated on an application for an individual life insurance policy? - Answer:
Benefits will be calculated according to how much coverage the premium paid
would have purchased for the correct age
Benefits will be calculated according to how much coverage the premium paid
would have purchased for the correct age.
Health insurance will typically cover which of the following perils? - Answer: Injury
due to accident
Page 2 of 33
,Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - Answer: A life insurance
policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life insurance
policyowner and a viatical settlement provider.
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - Answer: The insurer significantly raises co-insurance
charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may lose their
grandfathered status if the insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
Which of these techniques will remove the risk of losing money in the stock
market by never purchasing stocks? - Answer: Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by
never investing in stocks.
Which of the following nursing home options would BEST suit an individual who
needs some nursing care and supervision but NOT full-time care? - Answer:
Assisted living facilities
An assisted living facility would best suit an individual who needs some nursing
care and supervision but not full-time care.
Page 3 of 33
, Under Louisiana law, the agreement between an insurance producer and insurer
under which the insurance producer, for compensation, may sell, solicit, or
negotiate policies issued by the insurer is defined as - Answer: an appointment
The agreement between an insurance producer and insurer under which the
insurance producer, for compensation, may sell, solicit, or negotiate policies
issued by the insurer is called an appointment.
Which of these would NOT be considered a presumptive disability? - Answer: Loss
of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
A producer's license in Louisiana must be renewed every - Answer: Two years
Producer licenses are issued for periods of 2 years.
Bill requires some nursing care and supervision but NOT full-time care. Which of
these nursing home options would best serve him? - Answer: Assisted living
An assisted living facility would best suit an individual who needs some nursing
care and supervision but not full-time care.
The open enrollment period for Medicare Supplements begins at age - Answer: 65
Open enrollment for Medicare Supplements begins at the age the individual
becomes eligible for Medicare, which is typically age 65.
Page 4 of 33
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