Xcel solutions test - Study guides, Class notes & Summaries

XCEL FL TEST STUDY GUIDE WITH COMPLETE SOLUTIONS Which of the following types of health coverage frequently uses a deductible? - Answer️️ -Major Medical policy What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires his/her consent when a change of beneficiary is made? - Answer️️ -Irrevocable beneficiary If a 10-Year Term Life policy contains a Renewability provision, the policy will renew - Answer️️ -without evidence of insurability Under Flori...

XCEL Chapter 5 Test with Compete Solutions (2) A non-contributory health insurance plan helps the insurer avoid? A. adverse selection B. state compliance C. the underwriting process D. tax deductions - Answer-adverse selection All of the following are characteristics of a Group Life Insurance Plan EXCEPT? A. Group underwriting B. Master contract C. Individual underwriting D. Probationary period - Answer-Individual underwriting What does the Group Life underwriting risk selection...

A partial surrender is allowed in which of the following life policies?Universal life All of the following riders can increase the death benefit amount EXCEPTWaiver of Premium A health insurance policy where the insurer has the right to terminate the policy fr reasons other than the insureds health is calledConditionally Renewable A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease tre...

XCEL TESTING SOLUTIONS CALIFORNIA PRE-LICENSING EDUCATION - LIFE, ACCIDENT AND HEALTH INSURANCE When an insurance company requests an attending physician's report, the request must be accompanied by a - Answer ️️ -Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? - Answer ️️ -Change of occupation "Life insurance creates an immediate estate". This phrase means - Answer ️️ -When the insured dies, a death...

What is a participating life insurance policy/ Contract that allows the policyowner to receive a share of surplus in the form of policy dividends An insurer owned by its policyholders is called a Mutual insurer An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called? reinsurance which type of insurance is it where the insurer transfers loss exposures from policies written for its insureds reins...

XCEL TESTING SOLUTIONS CALIFORNIA PRE-LICENSING EDUCATION - LIFE, ACCIDENT AND HEALTH INSURANCE When an insurance company requests an attending physician's report, the request must be accompanied by a - Answer ️️ -Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? - Answer ️️ -Change of occupation "Life insurance creates an immediate estate". This phrase means - Answer ️️ -When the insured dies, a death...

A nonparticipating company is sometimes called a Correct Answer: Stock Insurer The Do Not Call Registry offers exemptions for calls placed from all the following EXCEPT Correct Answer: Insurance Sales Calls Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken? Correct Answer: $5,000 A plan in which an employer pays insurance benefits from a fund derived from th...

XCEL TEST LIFE & HEALTH EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED A policy that becomes a Modified Endowment Contract (MEC): will loose many of its tax advantages All of these are characteristics of an Adjustable Life policy, EXCEPT: face amount can be adjusted using policy dividends The most important factor to consider when determining whether to convert term insurance at the insured's attained age or the insured's original age is: the cost F needs life insurance that provi...

XCEL TESTING SOLUTIONS CALIFORNIA PRE-LICENSING EDUCATION - LIFE, ACCIDENT AND HEALTH INSURANCE When an insurance company requests an attending physician's report, the request must be accompanied by a - Answer ️️ -Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? - Answer ️️ -Change of occupation "Life insurance creates an immediate estate". This phrase means - Answer ️️ -When the insured dies, a death...