Exam (elaborations)
XCEL FINAL EXAM STUDY QUESTIONS AND ANSWERS-LOUISIANA LHA INSURANCE
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XCEL FINAL EXAM STUDY QUESTIONS AND ANSWERS-LOUISIANA LHA INSURANCE
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XCEL FINAL STUDY LOUISIANA LHAINSURANCE
Under group health insurance, a certificate of coverage is issued to the - Answer -employee
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
A payment system for health care in which the provider is paid for each service given is called - Answer -
fee-for-service
The free look period provided in a life insurance policy is usually - Answer -10 days
The free-look provision gives the policyowner - Answer -the right to return the policy for a full refund
within a specified number of days
Kathy pays a monthly premium on her health insurance policy. How long is her grace period? - Answer -
10 days
Which of these annuities require premium payments that vary from year to year? - Answer -Flexible
premium deferred annuity
Claims settlement practices of insurers are regulated by: - Answer -State insurance departments
, Reggie purchased a life insurance policy with a face amount of $500,000. After 15 years, the cash value
has accumulated to $100,000 and the policy's face amount has become $600,000. Which type of life
insurance policy is this? - Answer -Universal life
In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly
premium for the applicant for new insurance. This is called a - Answer -rebate
What is the primary factor that determines the benefits paid under a disability income policy? - Answer -
wages
Which annuity payout option allows the policyowner to choose a pre-determined number of benefit
payments? - Answer -Period certain
When are group disability benefits considered to be tax-free to the insured? - Answer -When the
recipient pays the premiums
A Medicare Supplement Policy is - Answer -designed to fill in the gaps of Part A and Part B Medicare
A nonresident of Louisiana who has satisfied the licensing requirements for a line of insurance in the
licensee's state and who wishes to sell that line of insurance in Louisiana, must meet all of the following
requirements EXCEPT: - Answer -Take the appropriate Louisiana licensing examination
An indemnity plan - Answer -provides the insured a specific dollar amount for services
A life insurance policy becomes incontestable after it has been in force for - Answer -2 years
Under the Fair Credit Reporting Act, which statement is true? - Answer -The consumer who was
investigated must be advised that credit, insurance, or employment was denied because of an
unfavorable report.
Group health plans may deny participation based upon the - Answer -member' part-time employment
status
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