XCEL VA Final Exam Study Questions And Answers Top Graded 2025
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Module
XCEL VA
Institution
XCEL VA
The free-look period for a new Medicare Supplement policy is -Correct Answer 30 days
Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the -Correct Answer ...
XCEL VA Final Exam Study Questions And
Answers Top Graded 2025
The free-look period for a new Medicare Supplement policy is -Correct Answer ✔30
days
Al surrenders his life insurance policy for its cash value. The total of the premiums paid
into the policy minus total dividends received in cash or used to offset premiums is
referred to as the -Correct Answer ✔cost basis
All of these are duties that a producer may be required to perform when delivering an
insurance policy EXCEPT -Correct Answer ✔leave a conditional receipt with client
which of these would likely be considered an Unfair Claims Settlement practice? -
Correct Answer ✔offering settlements that are less than the fair value to offset insurer
expenses
Kelly purchases a health insurance policy issued on a conditionally renewable basis.
The insurance company has a right to refuse renewal of the policy for -Correct Answer
✔specific reasons stated in the contract
The automatic premium loan provision can be accurately described as a -Correct
Answer ✔provision that provides a policy loan to pay any premiums by the end of the
grace period
An insured files for an accident and health insurance policy claim eight days after the
premium due date. The benefit payable is $500 and the overdue premium is $200.
Assuming that the policy pays on a first-dollar basis and contains the unpaid premium
provision, how much will the insurer pay? -Correct Answer ✔$300
What effect can a long-term care benefit rider have on a life insurance policy -Correct
Answer ✔reduced death benefit
Jerome is covered by a disability income policy that does NOT provide benefits for
losses occurring as the result of his employment. What kind of coverage is this? -
Correct Answer ✔nonoccupational coverage
insurable Interest in one's own life is legally considered as -Correct Answer ✔generally
unlimited
under what circumstance does an accident and health insurer have the right to request
an autopsy -Correct Answer ✔when not prohibited by state law
XCEL VA Final Exam
, XCEL VA Final Exam
The pre-existing conditions exclusion under a small employer medical plan -Correct
Answer ✔may be partially or fully satisfied by having creditable coverage with a
previous employer
major medical plans typically exclude coverage for which of the following benefits -
Correct Answer ✔custodial care
An employee welfare plan exempt from ERISA regulations would be -Correct Answer
✔church plans
which of the following is not an intended use of an annuity -Correct Answer ✔Create
new funds upon the death of a wage-earner
Which of these statements about traditional individual retirement accounts is accurate? -
Correct Answer ✔10% penalty is applied to withdrawals prior to age 59 1/2
The reason for backdating a policy is -Correct Answer ✔to obtain a premium rate based
on an earlier age
in a disability income contract, an insured is considered to be totally disabled under the
presumptive disability provision if he/she -Correct Answer ✔loses the ability to speak
Dan has a major medical expense policy with a $200 deductible and an 80/20
coinsurance provision. He incurs covered medical expenses of $100 in November and
$400 in January. Under the carryover provision, what will the insurer pay? -Correct
Answer ✔$240
a prepaid dental plan has an agreement in place with a network of dentists which -
Correct Answer ✔accepts an established amount as payment in full for the dental
service rendered
which of the following best describes the presumptive disability provision? -Correct
Answer ✔waives the typical total disability requirements
if an existing medicare supplement policy is being replaced by a new policy, who is
required to sign the notice of replacement -Correct Answer ✔agent and applicant
the insurance coverage in a variable life insurance policy may vary based on the value
of -Correct Answer ✔its underlying investments
After an insurance application has been originated, the producer normally -Correct
Answer ✔is the major personal contact to the insured
XCEL VA Final Exam
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