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Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions 1. 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 €9,93
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Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions 1. 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
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Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150
Questions
1. 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...
Xcel Testing Solutions- Life and Health Insurance- Weighted Exam-
150 Questions
1. The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPTANS
insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry
2. 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 calledANS
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.
3. 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)ANS
Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insur- ance at specific dates or events
without evidence of insurability.
4. Disability Income plans which require that the insurer can NEVER change or alter premium rates are
usually consideredANS
Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be increased under any circumstances.
5. In what part of an insurance policy are policy benefits found?ANS
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.
6. What happens if the insurer discovers that the insured's age was accidental- ly misstated on an application for
an individual life insurance policy?ANS
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.
7. Health insurance will typically cover which of the following perils?ANS
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
8. A viatical settlement contract is an agreement betweenANS
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.
9. Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status?ANS
The insurer significantly raises co-insurance charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may lose their
, Xcel Testing Solutions- Life and Health Insurance- Weighted Exam-
150 Questions
grandfathered status if the insurer significantly raises co-insurance charges, de- ductibles, or co-payment charges
10. Which of these techniques will remove the risk of losing money in the stock market by never purchasing
stocks?ANS
Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks.
11. Which of the following nursing home options would BEST suit an in- dividual who needs some
nursing care and supervision but NOT full-time care?ANS
Assisted living facilities
An assisted living facility would best suit an individual who needs some nursing care and supervision but not full-time
care.
12. 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
asANS
an appointment The agreement between an insurance producer and insurer under which the insur- ance producer, for
compensation, may sell, solicit, or negotiate policies issued by the insurer is called an appointment.
13. Which of these would NOT be considered a presumptive disability?ANS
Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
14. A producer's license in Louisiana must be renewed everyANS
Two years Producer licenses are issued for periods of 2 years.
15. Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home
options would best serve him?ANS
Assisted living An assisted living facility would best suit an individual who needs some nursing care and supervision but
not full-time care.
16. The open enrollment period for Medicare Supplements begins at ageANS
65 Open enrollment for Medicare Supplements begins at the age the individual be- comes eligible for Medicare,
which is typically age 65.
17. 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?ANS
- 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.
18. A whole life policy option where extended term insurance is selected is called a(n)ANS
nonforfeiture option
A nonforfeiture provision in a whole life policy that uses cash value to purchase term
, Xcel Testing Solutions- Life and Health Insurance- Weighted Exam-
150 Questions
insurance equal to the existing amount of life insurance is called the extended term option.
19. The Commissioner must examine the financial affairs of each admitted insurer operating in Louisiana
at least once every how many years?ANS
5
At the very least, an admitted company shall be examined once every 5 years by the Commissioner.
20. When a Medicare supplement policy is purchased during the open enroll- ment periodANS
the policy must be issued regardless of health status
During open enrollment for Medicare supplements, policies will be issued regardless of health status.
21. Which of the following actions may an insurance company NOT do in
a health policy that contains a guaranteed renewable premium benefit?ANS
In- crease the premiums on an individual basis
A guaranteed renewable policy CANNOT increase the premiums on an individual basis, only on the basis of an entire
classification.
22. A nonresident of Louisiana who has satisfied the licensing requirements for a line of insurance in the
licensee's state and who wishes to sell that line of insurance in Louisiana, must meet all of the following
requirements EXCEPTANS
ANS
Take the appropriate Louisiana licensing examination
A nonresident licensee from another state is not required to take a licensing exam- ination if they are already in good
standing with their state of residence.
23. A life insurance policy that has premiums fully paid up within a stated time period is calledANS
limited payment insurance
Limited payment insurance is characterized by premiums that are fully paid up within a stated period, after which no
further premiums are required.
24. The taxable portion of each annuity payment is calculated using which method?ANS
Exclusion Ratio
The Exclusion Ratio is used to determine the taxable portion of each annuity payment.
25. How are annuities given favorable tax treatment?ANS
Gains are taxed at distri- bution
Annuity gains are typically tax deferred until distribution.
26. All policies must be guaranteed renewable.ANS
long-term care All long-term care policies must be guaranteed renewable.
27. Which type of business insurance is meant to cover the costs of continuing to do business while the owner is
disabled?ANS
Business overhead expense policy A form of business disability insurance that is designed to cover the actual costs of
continuing to do business while an insured business owner is disabled is called a business overhead expense policy.
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