Exam (elaborations)
XCEL Life and Health Insurance Test Review Questions and Answers Graded A+
- Course
- Institution
XCEL Life and Health Insurance Test Review
[Show more]
Content preview
XCEL Life and Health Insurance TestReview
Period Certain - answer Which annuity payout option allows the policy owner to choose
a pre-determined number of benefit payments?
Life only annuity - answer Which annuity payout option has no additional payouts
regardless of when the annuitant dies
Errors and Omissions - answer a professional liability for which producers can be sued
for mistakes of putting a policy into effect
irrevocable beneficiary - answer requires the beneficiary's signature for any change to
the beneficiary
representations - answer statements made by an insurance applicant on an application
a specified amount of money - answer life insurance policies guarantee the beneficiary
what upon the death of the insured
Endodontics - answercommon exclusion on a dental policy
Home health care - answerWhich type of long-term care benefit would be most
appropriate for a stroke victim who requires speech therapy administered at her home?
March 23, 2010 - answerAccording to the Affordable Care Act, any plan in existence
prior to which date is considered a grandfathered plan?
Social Security Disability Income (SSDI) - answerWhich of the following is NOT a type
of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) - answerCoordination of Benefits regulation
applies to all of the following plans EXCEPT
30 days - answerBoth long-term care insurance and Medicare Supplement policies may
be returned by the insured for a full refund within
Hospital Indemnity - answerWhich type of coverage pays an amount per day for
hospitalization directly to the insured regardless of the insured's other health insurance?
Limited Policies - answerLow frequency diseases can be exclusively covered by what
kind of health insurance policies?
,Work-related - answerWhat type of injury would NOT be covered under a health
insurance policy?
It would be considered taxable income to the employee - answerWithout a Section 125
Plan in place, what would happen to an employee's payroll contribution to an HSA?
a policy that is paid up after only one payment - answerA single premium cash value
policy can be described as
Must have Medicare coverage - answerHow does one become eligible for Part D:
Prescription Drug coverage?
root canal - answerAn example of endodontic treatment is a
US Attorney General - answerUnder US Code 1033, crimes by or affecting persons
engaged in the business of insurance which affect interstate commerce are prosecuted
by the
Mortality costs - answerWhat would be an expense factor in an insurance program?
Insurer - answerWhich of the following signatures is not required on an individual
insurance application?
outpatient medical services - answerAll of the following are defined as supplemental
health insuring corporation (HIC) services EXCEPT
upper limit of the total lifetime benefits the insurance company will pay -
answer"Maximum benefits" refers to the
the beneficiary - answerSignatures for an insurance application MUST be obtained by
the producer from all of the following sources EXCEPT
Coverage is eliminated - answerWhat happens to the coverage under a children's term
rider when that child reaches a certain specified age?
increase the premiums on an individual basis - answerWhich of the following actions
may an insurance company NOT do in a health policy that contains a guaranteed
renewable premium benefit?
issue a cease and desist order against the agent - answerWhen the superintendent
believes an agent is causing substantial and material harm, the superintendent has the
authority to
, A good health statement - answerUpon policy delivery, which of the following must a
producer have an applicant sign if no initial premium was collected with the life
insurance application?
Hedge against inflation - answerIndex whole life insurance contains a securities
component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries - answerWhich of the
following statements regarding Group Disability Income insurance is TRUE?
Employee must be able to make unlimited contributions - answerWhich of the following
is NOT a federal requirement of a qualified plan?
Own occupation clause - answerWhich clause defines total disability as being unable to
perform the major duties of the insured's regular occupation?
not tax deductible - answerHow are premiums paid by the insured for personally owned
disability income insurance treated for tax purposes?
lifetime protection - answerA limited payment whole life policy provides
when contribution or participation rules have been violated - answerWhen can a group
health policy renewal be denied according to the Health Insurance Portability and
Accountability Act (HIPAA)?
100 days - answerMedicare Part A does not pay for medical benefits provided for
treatment in a skilled nursing facility beyond
blood test for HIV - answerAn insurer has a right to screen applicants for HIV in which of
the following ways?
100% of the billed amount - answerA closed network plan offers a a primary physician
copay of $25. If a subscriber chooses a primary care physician outside of the network,
the subscriber will likely pay
provides a greater choice of providers - answerWhen comparing an HIC to a PPO, the
PPO
an individual the means to replace wages - answerLoss of income insurance provides
guaranteed renewable policy - answerA health insurance policy that allows an insurer to
change the policyowner's premiums, but NOT cancel the policy is called a(n)
grace period - answerAn insurer will accept a premium from the insured and continue
the coverage in full force as though it was NOT late during which time period?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
