Exam (elaborations)
XCEL SOLUTIONS - FINAL EXAM QUESTIONS AND ANSWERS FULLY SOLVED
- Course
- Institution
XCEL SOLUTIONS - FINAL EXAM
[Show more]
Content preview
XCEL SOLUTIONS - FINAL EXAMK has a life insurance policy where her husband is beneficiary and her daughter is
contingent beneficiary. Under the Common Disaster clause, if K and her husband are
both killed in an automobile accident, where would the death proceeds be directed? -
answer Daughter
When is a Group Health policy required to provide coverage for a newborn child? -
answer At the moment of birth
What is the required renewability status of all Medicare supplement policies? - answer
Guaranteed renewable
Who issues Medicare Supplement policies? - answer insurance companies
P is the insured on a participating life policy. Which statement is true if P's premiums are
waived due to disability? - answerP will still receive declared dividends
What type of policy would offer a 40-year old the quickest accumulation of cash value? -
answer20-pay life
The Nevada Insurance Guaranty Association - answerprotects Nevada insurance policy
owners in the event an insurance company becomes insolvent
The most important factor to consider when determining whether to convert term
insurance at the insured's attained age or to the insured's original age is: - answerthe
cost
A Medicare Supplement policy may be cancelled for which of the following reasons? -
answerThe premiums has not been paid by the insured
A noncontributory group term life plan is characterized by: - answerThe entire cost of
the plan is paid for by the employer
Variable annuities may invest premiums in each of the following, EXCEPT: -
answerInsurer's corporate business account
Which of the following costs would a Basic Hospital/Surgical policy likely cover? -
answerSurgically removing a facial birthmark
Information obtained from a phone conversation to the proposed insured can be found
in which of these reports? - answerInspection report
, T is receiving $3,000/month from a Disability Income policy in which T's employer has
pad the premiums. How are the $3,000 benefit payments taxable? - answerBenefits are
taxable to T.
What kind of insurance policy supplies an income stream over a set period of time that
starts when the insured dies? - answerFamily Maintenance Policy
Basic Medical Expense insurance: - answerhas lower benefit limits than Major Medical
Insurance
What is the requirement for maintaining an individual Nevada producer license? -
answercompleting 30 hours of continuing education every 3 years
J is a producer who has induced an insured through misrepresentation to surrender an
existing insurance policy. What is J guilty of? - answerTwisting
Which of these is considered a mandatory provision? - answerpayment of claims
Which life insurance rider typically appears on a Juvenile life insurance policy? -
answerpayor benefit rider
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do
not take the required minimum distributions from their qualified retirement plan? -
answer50%
An individual has a Major Medical policy with a $5,000 deductible and an 80/20
Coinsurance clause. How much will the INSURED have to pay if a total of $15,000 in
covered medical expenses are incurred? - answer$7,000
Within how many days after policy delivery can a Long-term Care policy be returned for
a 100% premium refund? - answer30
Which of the following is an example of defamation? - answercirculating brochures that
falsely denounce the financial condition of an insurer
T has a Disability Income policy that pays a monthly benefit of $5,000. If T becomes
partially disabled, what can he likely expect? - answerLess than $5,000 per month
benefit regardless of the cause
A Medicare Supplement policyholder has ___ days to return the policy and receive a full
premium refund. - answer30
The health insurance program which is administered by each state and funded by both
the federal and state governments is called: - answerMedicaid
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 $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now