XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM- [150 ]QUESTIONS AND ANSWERS
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XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM- [150 ]QUESTIONS AND ANSWERS
The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from ...
XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE-
WEIGHTED EXAM- [150 ]QUESTIONS AND ANSWERS
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do
Not Call Registry
The type of policy where the insurer can send a notice to the insured that the policy has
been cancelled in the middle of the term is called - cancelable
The renewability provision in a cancelable policy allows the insurer to cancel or
terminate the policy at any time, simply by providing written notification to the insured
and refunding any advance premium that has been paid.
Barbara's policy includes a rider which allows her to purchase additional insurance at
specific dates or events without evidence of insurability. This rider is called a(n) -
Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insurance
at specific dates or events without evidence of insurability.
Disability Income plans which require that the insurer can NEVER change or alter
premium rates are usually considered - Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be increased
under any circumstances.
In what part of an insurance policy are policy benefits found? - Declarations
Essentially, the insurance declaration page is like a quick guide to the insurance policy,
providing all of the basic information the policyholder needs to know.
What happens if the insurer discovers that the insured's age was accidentally misstated
on an application for an individual life insurance policy? - Benefits will be calculated
according to how much coverage the premium paid would have purchased for the
correct age
Benefits will be calculated according to how much coverage the premium paid would
have purchased for the correct age.
Health insurance will typically cover which of the following perils? - Injury due to
accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - A life insurance policyowner
and a viatical settlement provider
A viatical settlement contract is an agreement between a life insurance policyowner and
a viatical settlement provider.
,Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may lose their
grandfathered status if the insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
Which of these techniques will remove the risk of losing money in the stock market by
never purchasing stocks? - Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never
investing in stocks.
Which of the following nursing home options would BEST suit an individual who needs
some nursing care and supervision but NOT full-time care? - Assisted living facilities
An assisted living facility would best suit an individual who needs some nursing care
and supervision but not full-time care.
Under Louisiana law, the agreement between an insurance producer and insurer under
which the insurance producer, for compensation, may sell, solicit, or negotiate policies
issued by the insurer is defined as - an appointment
The agreement between an insurance producer and insurer under which the insurance
producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer
is called an appointment.
Which of these would NOT be considered a presumptive disability? - Loss of a leg or
arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
A producer's license in Louisiana must be renewed every - Two years
Producer licenses are issued for periods of 2 years.
Bill requires some nursing care and supervision but NOT full-time care. Which of these
nursing home options would best serve him? - Assisted living
An assisted living facility would best suit an individual who needs some nursing care
and supervision but not full-time care.
The open enrollment period for Medicare Supplements begins at age - 65
Open enrollment for Medicare Supplements begins at the age the individual becomes
eligible for Medicare, which is typically age 65.
Mark continues working after the age of 65 and is covered through his employer's group
health plan. Which of the following statements is TRUE? - Medicare is the secondary
payer
, If an individual continues to work after the age of 65 and keeps the group plan, primary
coverage comes from the group insurance plan and Medicare is considered the
secondary payer.
A whole life policy option where extended term insurance is selected is called a(n) -
nonforfeiture option
A nnonforfeiture nprovision nin na nwhole nlife npolicy nthat nuses ncash nvalue nto npurchase nterm
ninsurance nequal nto nthe nexisting namount nof nlife ninsurance nis ncalled nthe nextended nterm
noption.
The nCommissioner nmust nexamine nthe nfinancial naffairs nof neach nadmitted ninsurer
noperating nin nLouisiana nat nleast nonce nevery nhow nmany nyears? n- n n5
At nthe nvery nleast, nan nadmitted ncompany nshall nbe nexamined nonce nevery n5 nyears nby nthe
nCommissioner.
When na nMedicare nsupplement npolicy nis npurchased nduring nthe nopen nenrollment nperiod n-
n nthe npolicy nmust nbe nissued nregardless nof nhealth nstatus
Which nof nthe nfollowing nactions nmay nan ninsurance ncompany nNOT ndo nin na nhealth npolicy
nthat ncontains na nguaranteed nrenewable npremium nbenefit? n- n nIncrease nthe npremiums non
nan nindividual nbasis
A nguaranteed nrenewable npolicy nCANNOT nincrease nthe npremiums non nan nindividual
nbasis, nonly non nthe nbasis nof nan nentire nclassification.
A nnonresident nof nLouisiana nwho nhas nsatisfied nthe nlicensing nrequirements nfor na nline nof
ninsurance nin nthe nlicensee's nstate nand nwho nwishes nto nsell nthat nline nof ninsurance nin
How nare nannuities ngiven nfavorable ntax ntreatment? n- n nGains nare ntaxed nat ndistribution
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