Exam (elaborations)
XCEL LIFE INSURANCE EXAM QUESTIONS & ANSWERS 2024
- Course
- Institution
XCEL LIFE INSURANCE EXAM QUESTIONS & ANSWERS 2024
[Show more]
Content preview
XCEL LIFE INSURANCE EXAM QUESTIONS &ANSWERS
Replacement 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
What does "SHOP" stand in SHOP Exchange? - Answers- Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Answers- master policy
Which of the following is NOT covered under Workers' Compensation? - Answers- Pain
and suffering
Which of the following provides Medicare supplement policies? - Answers- Private
insurance companies
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
Coordination of benefits regulation applies to all of the following plans EXCEPT -
Answers- Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - Answers- Human life value approach
Which of the following policies does NOT build cash value? - Answers- Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - Answers- Human life value
The free look period provided in a life insurance policy is usually - Answers- 10 days
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
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 GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now