Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Q&A.
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Xcel
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Xcel
Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Q&A. Terms like:
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
Accord...
Xcel Testing Solutions- Life and Health
Insurance- Weighted Exam- 150 Q&A.
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.
Page 1 of 33
,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.
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.
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,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.
Mark continues working after the age of 65 and is covered through his employer's
group health plan. Which of the following statements is TRUE? - Answer:
Medicare is the secondary payer
If an individual continues to work after the age of 65 and keeps the group plan,
primary coverage comes from the group insurance plan and Medicare is
considered the secondary payer.
A whole life policy option where extended term insurance is selected is called a(n)
- Answer: nonforfeiture option
A nonforfeiture provision in a whole life policy that uses cash value to purchase
term insurance equal to the existing amount of life insurance is called the
extended term option.
The Commissioner must examine the financial affairs of each admitted insurer
operating in Louisiana at least once every how many years? - Answer: 5
At the very least, an admitted company shall be examined once every 5 years by
the Commissioner.
When a Medicare supplement policy is purchased during the open enrollment
period - Answer: the policy must be issued regardless of health status
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, During open enrollment for Medicare supplements, policies will be issued
regardless of health status.
Which of the following actions may an insurance company NOT do in a health
policy that contains a guaranteed renewable premium benefit? - Answer: Increase
the premiums on an individual basis
A guaranteed renewable policy CANNOT increase the premiums on an individual
basis, only on the basis of an entire classification.
A nonresident of Louisiana who has satisfied the licensing requirements for a line
of insurance in the licensee's state and who wishes to sell that line of insurance in
Louisiana, must meet all of the following requirements EXCEPT: - Answer: Take the
appropriate Louisiana licensing examination
A nonresident licensee from another state is not required to take a licensing
examination if they are already in good standing with their state of residence.
A life insurance policy that has premiums fully paid up within a stated time period
is called - Answer: limited payment insurance
Limited payment insurance is characterized by premiums that are fully paid up
within a stated period, after which no further premiums are required.
The taxable portion of each annuity payment is calculated using which method? -
Answer: Exclusion Ratio
The Exclusion Ratio is used to determine the taxable portion of each annuity
payment.
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