Exam (elaborations)
XCELL TESTING SOLUTIONS.
- Course
- Institution
XCELL TESTING SOLUTIONS.
[Show more]
Seller
Follow
Content preview
XCELL TESTING SOLUTIONS (LIFE &HEALTH) FINAL 150 QUESTION
PRACTICE EXAM WITH COMPLETE
SOLUTIONS
When ascan asa aspolicy asowner aschange asa asrevocable asbeneficiary? as- as✔✔Anytime
M aspurchased asan asAccidental asDeath asand asDismemberment as(AD&D) aspolicy asand
asnamed ashis asson asas asbeneficiary. asM ashas asthe asright asto aschange asthe
asbeneficiary asdesignation asat asanytime. asWhat astype asof asbeneficiary asis ashis asson?
as- as✔✔Revocable
How aswould asa ascontingent asbeneficiary asreceive asthe aspolicy asproceeds asin asan
asAccidental asDeath asand asDismemberment as(AD&D) aspolicy? as- as✔✔If asthe asprimary
asbeneficiary asdies asbefore asthe asinsured
What asis asthe asunderlying asconcept asregarding aslevel aspremiums? as- as✔✔The asearly
asyears asare ascharged asless asthan aswhat asis asneeded
A aspolicy asowner asis asable asto aschoose asthe asfrequency asof aspremium aspayments
asthrough aswhat aspolicy asfeature? as- as✔✔Premium asMode
Any aschanges asmade ason asan asinsurance asapplication asrequires asthe asinitials asof
aswhom? as- as✔✔Applicant
All asof asthese asare asconsidered assources asof asunderwriting asinformation asabout asan
asapplicant asEXCEPT as- as✔✔Rating asServices
Q asapplied asfor aslife asinsurance asand assubmitted asthe asinitial aspremium ason asJanuary
as1. asThe aspolicy aswas asissued asFebruary as1, asbut asit aswas asnot asdelivered asby asthe
asagent asuntil asFebruary as7. asQ asis asdissatisfied asand asreturns asthe aspolicy asFebruary
as13. asHow aswill asthe asinsurer ashandle asthis assituation? as- as✔✔Policy aswas asreturned
aswithin asthe asfree-look asperiod, aspremium aswill asbe asfully asrefunded
M ascompletes asan asapplication asfor aslife asinsurance asbut asdoes asnot aspay asthe
asinitial aspremium. asAll asof asthese asactions asmust asoccur asbefore asM's aspolicy asgoes
asinto aseffect asEXCEPT as- as✔✔free-look asperiod ashas asexpired
, What asaction asshould asa asproducer astake asif asthe asinitial aspremium asis asNOT
assubmitted aswith asthe asapplication? as- as✔✔Forward asthe asapplication asto asthe
asinsurer aswithout asthe asinitial aspremium
Which asof asthe asfollowing asis asan asimportant asunderwriting asprinciple asof asgroup aslife
asinsurance? as- as✔✔Everyone asmust asbe ascovered asin asthe asgroup
Which asrequirement asmust asbe asmet asfor asan asassociation asto asbe aseligible asfor asa
asgroup aslife asplan? as- as✔✔Group aswas asformed asfor asa aspurpose asother asthan
asacquiring asinsurance
When asan asemployee asis asterminated, aswhich asstatement asabout asa asgroup asterm
aslife asconversion asis astrue? as- as✔✔Policy asproceeds aswill asbe aspaid asif asthe
asemployee asdies asduring asthe asconversion asperiod
Under asa astrustee asgroup aslife aspolicy, aswho aswould asbe aseligible asfor asa ascertificate
asof ascoverage? as- as✔✔Corporation
N, asage as50, asrecently asbought asan asannuity asthat aswill aspay asa asguaranteed
as$2,000/month asat asage as70 asfor aslife. asWhat astype asof asannuity asdid asN aspurchase?
as- as✔✔Fixed asDeferred
S asrecently asreceived asa as$500,000 aslump assum asretirement asbuyout asfrom asher
asemployer. asShe aswould aslike asto asbuy asan asannuity asthat aswill asimmediately asfurnish
asher aswith asa asguaranteed asincome asfor aslife. asWhat astype asof asannuity asis asbest
assuited asfor asher assituation? as- as✔✔Single asPremium
Which asof asthese asis asan aselement asof asa asSingle asPremium asannuity? as- as✔✔Lump-
sum aspayment
Which asof asthese asstatements asconcerning asan asIndividual asStraight asLife asannuity
asis asaccurate? as- as✔✔Payments asare asmade asto asan asannuitant asfor aslife
An asindividual aswho aspurchases asa asLife asannuity asis asgiven asprotection asagainst as-
as✔✔the asrisk asof asliving aslonger asthan asexpected
An asimmediate asannuity asconsists asof asa as- as✔✔single aspremium
All asof asthese asare asconsidered asto asbe asa asbenefit asunder asSocial asSecurity
asEXCEPT asfor as- as✔✔unemployment
Which asproduct aswould asbest asserve asa asretired asindividual aslooking asto asinvest asa
aslump-sum asof asmoney asthrough asan asinsurance ascompany? as- as✔✔Annuity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller bonie314. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79202 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now