Exam (elaborations)
XCEL LIFE INSURANCE EXAM
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XCEL LIFE INSURANCE EXAM
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XCEL LIFE INSURANCE EXAMReplacement regulation is designed to protect - Answers -Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Answers -
Preventative health services
Which of these will have the highest monthly payout upon annuitization - Answers -
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Answers -Clauses
Which of the following is considered to be an alternative to a life settlement? - Answers -
Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - Answers -Benefits are
limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
Answers -Preferred provider Organization plan
A life settlement intermediary is a(n) - Answers -association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement
contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - Answers -Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - Answers -Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - Answers -avoid overpayment of claims
Medicaid is intended for - Answers -poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Answers -collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
Answers -10 days
, Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - Answers -twisting
Which type of annuity stops all payments upon the death of the annuitant? - Answers -
Life annuity
Decreasing term life insurance is often used to - Answers -provide coverage for a home
mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Answers -Specified amount of money
Major medical insurance will typically cover medical expenses that result from -
Answers -a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - Answers -1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - Answers -accident
Life insurance policies will normally pay for losses arising from - Answers -commercial
aviation
The coverage, conditions, and limitations in the master policy of a group contract can be
found in which document? - Answers -Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home? - Answers -Home health care
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? - Answers -
Benefit period
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - Answers -The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
Which of these statements about Medicaid is CORRECT? - Answers -Funded by
federal, state, and local taxes
In group health care, what is the purpose of the coordination of benefits provision? -
Answers -Determines what is paid by the primary and secondary insurers in the event of
a claim
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