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XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM WITH 400 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (100% CORRECT DETAILED ANSWERS) $30.99
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XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM WITH 400 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (100% CORRECT DETAILED ANSWERS)
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XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM WITH 400 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (100% CORRECT DETAILED ANSWERS) A whole life policy option where extended term insurance is selected is called a(n) - ANSWER-nonforfeiture option A nonforfeiture provisio...

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Document information

  • August 5, 2024
  • 58
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life agent license exam
  • 2024 xcel testing solutions life and health exam
  • xcel testing solutions life and health insurance
  • xcel testing solutions life and health exam
  • xcel testing solutions life

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  • XCEL TESTING- LIFE AND HEALTH INSURANCE
  • XCEL TESTING- LIFE AND HEALTH INSURANCE

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2024 2025 XCEL TESTING SOLUTIONS- LIFE
AND HEALTH INSURANCE- WEIGHTED
EXAM WITH 400 QUESTIONS AND
CORRECT ANSWERS WITH RATIONALES
(100% CORRECT DETAILED ANSWERS)

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.


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


Health insurance will typically cover which of the following perils? - ANSWER-
Injury due to accident
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.




pg. 1

,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


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.


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.


The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - ANSWER-insurance sales calls



pg. 2

,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.


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.


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.



pg. 3

, 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.


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.


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.


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
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


pg. 4

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