Xcel Final Exam solutions California life, accident and health insurance.
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Xcel California life, accident and health
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Xcel California Life, Accident And Health
Xcel Final Exam solutions
California life, accident and health insurance.
Who does a life settlement broker represent? Answer: Individual wanting to sell their life policy to a third party
What is the insurance term the State of California uses for an insurer that is eligible to transact bus...
Xcel Final Exam solutions 2024-2025
California life, accident and health insurance.
Who does a life settlement broker represent? Answer: Individual wanting to sell their life policy to a third party
What is the insurance term the State of California uses for an insurer that is eligible to transact business
in this state? Answer: Admitted
Most U.S. life insurance companies belong to the Answer: Medical Information Bureau
Which of the following healthcare providers provide both the healthcare services and healthcare coverage?
Answer: Health Maintenance Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? Answer: Traveling
overseas with a spouse
Which word implies permissiveness according to the California Insurance Code? Answer: may
When found in California Insurance Code, the word "may" implies permissiveness.
Under a long-term care insurance policy, adult day care coverage will pro- vide for Answer: part time care at a
facility for elderly individuals who live at home
Major medical expense plans typically use a cost containment measure for emergency hospital care. This is
referred to as a Answer: Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the death benefit accumulate and
receive only the monthly investment proceeds. Which settlement option should she choose? Answer: Interes
Option
Reasonably necessary acts that an agent must perform for carrying out his/her expressly authorized duties are
covered by an agent's Answer: Implied authority
Kim is insured under a disability income insurance policy with an "own occupation" clause. She was recently
injured in an automobile accident and can no longer perform the tasks of her job. Kim is now considered to be
Answer: Totally Disabled
, What is a common reason people purchase an annuity Answer: To protect against the risk of outliving
their financial resources
Why is a life insurance policy's delivery date important? Answer: The free- look period begins on the
policy delivery date
Periodic increases in policy benefits are allowed in which long-term care policy provision? Answer:
Inflation Protection
What is the term used to describe the frequency and severity of certain illnesses and accidents?
Answer: Morbidity
Key person insurance is intended to Answer: cover business losses due to death of key employee
Minimum participation standards exist for group health insurance plans in order to Answer: prevent adverse
selection
Which of the following is NOT included under long-term care insurance? Answer: Hospital acute care
When calculating life insurance premium rates, which component would an agent's commission fall
under? Answer: Insurer's expenses
The reason for social insurance is to Answer: protect certain vulnerable segments of the population
Jon's health plan pays benefits of 90% for in-network providers and 70% for out-of-network providers.
What kind of plan is this? Answer: PPO
Which of the following acts is NOT a Federal offense committed by an insurance agent? Answer:
Misrepresentation on an insurance application
An insurer having a large number of similar exposure units is considered important because Answer:
the greater the number insured, the more accurately the insurer can predict losses and set appropriate
premiums
Medical expense policies will typically cover which of the following? Answer: injuries caused by accidents
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5
years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? Answer: 60
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