XCEL NEVADA FINAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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Course
PRIMERICA LIFE INSURANCE
Institution
PRIMERICA LIFE INSURANCE
Which of the following is NOT an example of a producer's breach of contract under fiduciary duty?
Misappropriation of premiums
commingling premiums
improper withholding of premiums
allowing premiums to be submitted electronically - Precise Answer allowing premiums to be submitted electronically...
XCEL NEVADA FINAL EXAM 2024/2025
WITH 100% ACCURATE SOLUTIONS
Which of the following is NOT an example of a producer's breach of
contract under fiduciary duty?
Misappropriation of premiums
commingling premiums
improper withholding of premiums
allowing premiums to be submitted electronically - Precise Answer
✔✔allowing premiums to be submitted electronically
Nevada Requires that coverage for newborns begins "from the moment
of birth" and a premium must be paid within:
31 days
90 days
6 months
12 months - Precise Answer ✔✔31 days
A foreign insurance company doing business in Nevada:
Is not subject to Florida insurance laws
is a company that was formed under the laws of another state
Is a company that was formed under the laws of another country
,is only authorized to write business outside the United States - Precise
Answer ✔✔Is a company that was formed under the laws of another
state
All of the following statements about Major Medical benefits are true,
EXCEPT:
The deductible can be expressed as a fixed dollar amount
The benefit period begins only after a specified amount of expenses have
accrued
Benefits are generally expressed as a percentage of eligible expenses
Benefits have no maximum limit - Precise Answer ✔✔Benefits have no
maximum limit
M is insured under a basic Hospital/Surgical Expense policy. A
physician performs surgery on M. What determines the claim M is
eligible for?
Claim payment is equal to physician's actual charges
Claim payment is negotiated between physician and patient
Determined by the schedule of benefits from the hospital
Determined by the terms of the policy - Precise Answer ✔✔Determined
by the terms of the policy
P received Disability income benefits for 3 months then returns to work.
She is able to work one month before her condition returns, leaving her
disabled once again. What would the insurance company most likely
regard this second period of disability as?
,A presumptive disability
An occupational disability
A residual disability
A recurrent disability - Precise Answer ✔✔A recurrent disability
Which of these arrangements allows one to bypass insurable interest
laws?
Concealment
Indemnity contract
Contract of adhesion
Investor-Originated Life Insurance - Precise Answer ✔✔Investor-
Originated Life Insurance
Sometimes called IOLI, stranger-originated life insurance
What determines the full amount of Social Security retirement benefits a
qualified individual is entitled to receive?
Primary Insurance Amount (PIA)
Total taxes paid paid into FICA
Number of dependents
State of residence - Precise Answer ✔✔Primary Insurance Amount
(PIA)
Which statement regarding the Misstatement of Age provision is
considered to be true?
, Coverage will be adjusted to reflect the insured's true age if a
misstatement of age is discovered
Requires that a new policy must be applied for if a misstatement of age
is found on the current policy
Misstatement of Age provision is valid only during the contestable
period
Insurer may void the policy if a misstatement of age is discovered -
Precise Answer ✔✔Coverage will be adjusted to reflect the insured's
true age if a misstatement of age is discovered
A written agreement to provide a Life insurance Policy holder
immediate cash in exchange for the sale and transfer of a Life Insurance
Policy is a:
Variable Life Policy
Viatical Settlement
Equity Index Annuity
Health Care Savings Account - Precise Answer ✔✔Viatical Settlement
A potential client, age 40, would like to purchase a Whole Life policy
that will accumulate cash value at a faster rate in the early years of the
policy. Which of these statements made by the producer would be
correct?
Straight life accumulates faster than Limited-Pay Life
20-Pay Life accumulates cash value faster than Straight Life
Cash value accumulation of both 20-pay Life and Straight Life depend
on the surer's financial rating
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