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XCEL FL TEST STUDY GUIDE VERIFIED ANSWERS
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XCEL FL TEST STUDY GUIDE VERIFIED ANSWERS Which of the following types of health coverage frequently uses a deductible? ️ Major Medical policy. What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires consent when a change of beneficiary is made? ️ Irr...

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  • August 15, 2024
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XCEL FL TEST STUDY GUIDE VERIFIED ANSWERS


Which of the following types of health coverage frequently uses a deductible?

✔️ Major Medical policy.



What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires consent
when a change of beneficiary is made?

✔️ Irrevocable beneficiary.



If a 10-Year Term Life policy includes a Renewability provision, the policy will renew:

✔️ Without evidence of insurability.



Under Florida law, how often must a variable annuity policyowner be notified about the accumulated
value of the contract?

✔️ Once a year.



How many days after policy delivery can a Medicare Supplement policy be returned for a full premium
refund?

✔️ 30 days.



During an insurance transaction, if an agent makes a false or incomplete statement, he/she may be
found guilty of:

✔️ Misrepresentation.



Accidental Death coverage is provided to commercial airline passengers under which type of policy?

✔️ Blanket Accident policy.



At what age can an IRA owner begin making withdrawals without incurring a tax penalty?

✔️ 59½ years.

,According to the Mandatory Uniform Policy Provisions, what is the maximum amount of time a policy
remains in force after the premium due date if unpaid?

✔️ 31 days.



How long can an insurance agent's license remain inactive without an appointment in Florida before it
terminates?

✔️ 48 months.



A Life insurance policyowner wishing to borrow against the cash value of their Whole Life policy may
encounter an interest rate that varies over time. This is known as a(n) _______ rate loan.

✔️ Variable.



Which provision requires proof of insurability after a policy has lapsed?

✔️ Reinstatement.



What is the main purpose of the Insurance Guaranty Fund Association?

✔️ To protect policyowners against insolvent insurance companies.



Which of the following statements accurately reflects an unfair trade practice?

✔️ Twisting involves an agent using misrepresentation to convince a policyowner to cancel their
current policy to purchase a new life insurance policy from another company.



Nursing home benefits must be provided for at least how many consecutive months in which type of
policy?

✔️ Long-Term Care policy.



According to Florida law, how many insureds are required for a Group Life insurance policy?

✔️ No minimum.

, Life and health insurance policies are classified as:

✔️ Unilateral contracts.



An agent that sells ______ Life insurance must be registered with the Financial Industry Regulatory
Authority (FINRA).

✔️ Variable.



With a medical discount plan, how often is a fee generally paid to access discounts on specific services?

✔️ Monthly.



Insurance companies formed in countries outside the United States are referred to as:

✔️ Alien companies.



A long-term care lapse notice must be provided to both the applicant and a:

✔️ Secondary addressee.



During the licensing application process, the Department may request all of these EXCEPT:

✔️ Drug test.



A "reimbursement policy" covers what amount of Long-Term Care expenses?

✔️ Actual covered expenses up to the daily maximum.



In Florida, agents are allowed to engage in rebating if:

✔️ Offered to all insureds in the same actuarial class.



The individual who delivers general medical care to a patient and refers them for specialized care is
called a:

✔️ Primary Care Physician.

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