Exam (elaborations)
Xcel Life, Accident, Health License Exam Questions
- Module
- PSI Practice
- Institution
- PSI Practice
Xcel Life, Accident, Health License Exam Questions
[Show more]
Content preview
Xcel Life, Accident, Health License ExamQuestions
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age - CORRECT ANSWER-A deceased worker's
dependent parents of any age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect
insurance companies from? - CORRECT ANSWER-adverse selection
The open enrollment period for Medicare Part B is... - CORRECT
ANSWER-January 1 through March 31
The period in which there are no social security benefits for the surviving spouse
is called - CORRECT ANSWER-Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches
age 60 at the earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration - CORRECT ANSWER-Countersignature
Major medical expense plans typically use a cost containment measure for
emergency hospital care. This is referred to as a(n)
,- Limitation
- Exclusion
- Capitation
- Deductible - CORRECT ANSWER-Deductible
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived - CORRECT ANSWER-The Policy's
effective date is earlier than the present
which of the following does restorative dental treamtent cover?
- crowns
- cleanings
- xrays
- dentures - CORRECT ANSWER-crowns
Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received - CORRECT
ANSWER-Based on the date an individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value - CORRECT ANSWER-Specified amount of money
,Which type of life insurance offers flexible premiums, a flexible death benefit, and
the choice of how the cash value will be invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy - CORRECT ANSWER-Variable universal policy
Which of these premium payment frequencies is not typically available to a
policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly - CORRECT ANSWER-Bi-weekly
According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year - CORRECT
ANSWER-participation or contribution rules have been violated
The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population - CORRECT
ANSWER-Protect certain vulnerable segments of the population
Failure to report background changes with 30 days as required under section
1729.2 of the California insurance code could subject a license or applicant to
- Suspension
- Denial
, - Fine
- All of these - CORRECT ANSWER-all of these
According to PPACA, what is a health benefits exchange?
- An entity that offers affordable health coverage to only those with low incomes
- An entity where existing policies can be converted to new policies
- An entity that provides tax credits to employers for providing health insurance to
their employees
- An entity to which individuals an d small businesses can have access to
affordable health coverage - CORRECT ANSWER-an entity to which individuals
and small businesses can have access to affordable health coverage
An insurer has the right to recover payment made to the insured from the
negligent party. These rights are called
- Estoppel
- Contributory
- Indemnity
- Subrogation - CORRECT ANSWER-subrogation
what is the nonforfeiture value of an annuity before annuitization?
- All premiums paid, plus interest, minus any withdrawals and surrender charges
- All premiums paid
- All premiums paid minus any withdrawals and surrender charges
- All premiums paid plus interest - CORRECT ANSWER-All premiums paid, plus
interest, minus any withdrawals and surrender charges
Shawn, Mike, and Dave are borhters who have a $100,000 "first to die" joint life
policy covering all three of their lives. If mike dies first, the policy proceeds
- Will be divided by probate
- Will go to mike's estate
- Will no longer provide insurance protection
- Will not be paid until the last brother dies - CORRECT ANSWER-Will no longer
provide insurance protection
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 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 EXAMQA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.36. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82215 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now