Xcel Life, Accident, Health License Exam Questions
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Xcel Life, Accident, Health License Exm Question
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Xcel Life, Accident, Health License Exm Question
Xcel Life, Accident, Health License Exam Questions
Who is not eligible for Social Security survivor benefits?
A. Full-time students under the age of 19
B. Dependent parents of a deceased worker, regardless of age
C. A widow at any age caring for children younger than 16
D. A widow...
Xcel Life, Accident, Health License Exam Questions
Who is not eligible for Social Security survivor benefits?
A. Full-time students under the age of 19
B. Dependent parents of a deceased worker, regardless of age
C. A widow at any age caring for children younger than 16
D. A widow who has reached full retirement age
**Answer:** B. Dependent parents of a deceased worker, regardless of age (must be at least 62 years
old).
What does the risk selection process in group life underwriting help protect insurance companies from?
**Answer:** Adverse selection.
When does the open enrollment period for Medicare Part B take place?
**Answer:** January 1 through March 31.
What is the period during which no Social Security benefits are available for the surviving spouse called?
**Answer:** Blackout period (begins when the youngest child turns 16 and continues until the spouse
reaches age 60 at the earliest).
Which of the following is NOT a requirement of a valid contract?
A. Countersignature
B. Legal
C. Competent parties
D. Consideration
**Answer:** A. Countersignature.
Major medical expense plans often employ a cost containment strategy for emergency hospital care.
This is known as a:
- Limitation
,- Exclusion
- Capitation
- Deductible
**Answer:** Deductible.
What occurs when an insurance policy is backdated?
- The policy’s probation period is earlier than the present.
- The policy’s effective date is earlier than the present.
- The timeframe for reinstating a lapsed policy is extended.
- The policy’s elimination period is waived.
**Answer:** The policy’s effective date is earlier than the present.
Which of the following treatments does restorative dental care cover?
- Crowns
- Cleanings
- X-rays
- Dentures
**Answer:** Crowns.
How are individuals on the MRMIP waiting list prioritized for enrollment?
- Priority is given to those with the most serious health issues.
- Based on the individual's date of birth.
- Priority is given to California residents.
- Based on the date an individual's application is received.
**Answer:** Based on the date an individual's application is received.
What does a life insurance policy guarantee to the designated beneficiary upon the insured's death?
- Funeral expense fund
- Specified amount of money
,- Policy dividend
- Policy's cash value
**Answer:** Specified amount of money.
Which type of life insurance allows for flexible premiums, a variable death benefit, and options for how
the cash value is invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy
**Answer:** Variable universal policy.
Which of the following premium payment frequencies is typically not offered to policyholders?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly
**Answer:** Bi-weekly.
According to HIPAA, under what circumstances can a group health policy renewal be denied?
- Changes have been made to participation or contribution rules.
- The size of the group has increased by more than 10%.
- Participation or contribution rules have been violated.
- There have been too many claims in the previous year.
**Answer:** Participation or contribution rules have been violated.
The reason for social insurance is to
- Create dependents of government
, - Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population ✔️Protect certain vulnerable segments of the
population
Failure to report background changes with 30 days as required under section 1729.2 of the California
insurance code could subject a license or applicant to
- Suspension
- Denial
- Fine
- All of these ✔️all of these
According to PPACA, what is a health benefits exchange?
- An entity that offers affordable health coverage to only those with low incomes
- An entity where existing policies can be converted to new policies
- An entity that provides tax credits to employers for providing health insurance to their employees
- An entity to which individuals an d small businesses can have access to affordable health coverage
✔️an entity to which individuals and small businesses can have access to affordable health coverage
An insurer has the right to recover payment made to the insured from the negligent party. These rights
are called
- Estoppel
- Contributory
- Indemnity
- Subrogation ✔️subrogation
what is the nonforfeiture value of an annuity before annuitization?
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