XCEL SOLUTIONS FINAL EXAM MARYLAND LIFE AND HEALTH 2024/2025
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Course
XCEL
Institution
XCEL
XCEL SOLUTIONS FINAL EXAM MARYLAND LIFE AND HEALTH 2024/2025
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XCEL SOLUTIONS FINAL EXAM
MARYLAND LIFE AND HEALTH
2024/2025
What is normally the consequence for NOT obtaining preadmission certification prior to receiving
inpatient medical care? - correct answer -A reduction in benefits
A group-owned insurance company that is formed to assume and spread the liability risks of its
members is known as a - correct answer -Risk retention group
During the application process, a statement made by an applicant that becomes part of the contract is
considered to be a(n) - correct answer -Warranty
What is taken into consideration when defining "total disability" in a disability income insurance policy?
- correct answer -The insured's education, training and expirence
Sarah, age 88, is a life annuitant who has lived beyond her life expectancy. The funds for additional
benefit payments will be derived primarily from funds that were - correct answer -not distributed to life
annuitants who died before life expectancy
Which type of policy can group term life insurance normally be converted to? - correct answer -An
individual permanent life insurance policy
Impatient psychiatric care is covered under Part A Medicare insurance for 190 days per - correct answer
-Lifetime
A source of supplemental income for a life insurance policyowner can be derived from the - correct
answer -Cash value
The absolute assignment of a life insurance policy results in - correct answer -all incidents of ownership
transferred to the assignee
, All of these statements concerning group credit life insurance are false EXCEPT - correct answer -The
face amount is based on the outstanding loan balance
Which statement concerning adjustable life insurance is accurate? - correct answer -The face amount
and premiums can be changed simultaneously by the policyowner
Which settlement option makes minimum guaranteed dollar payments over a stated number of years? -
correct answer -Fixed-Period
Insurance is NOT characterized as which of the following? - correct answer -As the number of insureds
increase the number of losses decrease
All of these statements correctly describe an aleatory contract EXCEPT - correct answer -Only one party
makes any kind of legally enforceable offer
Which of these policies is considered to be a comprehensive health policy? - correct answer -Major
medical policy
Which of the following is true regarding a person receiving a waiver of premium benefit? - correct
answer -The insured must be disabled for a period of time
Karen is a health maintenance organization (HMO) subscriber. Who provides all of her preventative and
routine care? - correct answer -Primary care physician
How would preventative care be encouraged in a dental plan? - correct answer -No deductible on
routine examinations
Which of the following financial products creates an instant estate, no matter when the date of death? -
correct answer -Life insurance
What happens to the death benefit of a life insurance policy if the insured elects a partial payment from
the accelerated (living) benefit provision? - correct answer -Reduced
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