Xcel Life Insurance Exam Questions
With Correct Answers
Replacement regulation is designed to protect - answer✔✔Policyowners from mirepresentation
and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - answer✔✔Preventative
health services
Which of these will have the highest monthly payout upon annuitization - answer✔✔Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - answer✔✔Clauses
Which of the following is considered to be an alternative to a life settlement? -
answer✔✔Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - answer✔✔Benefits are limited
to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
answer✔✔Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that amount
would be devoted to dependents? - answer✔✔Human life value approach
Which of the following policies does NOT build cash value? - answer✔✔Term
Which of these is a method of determining the level of funds required for ongoing support in the
event of the breadwinner's death? - answer✔✔Human life value
The free look period provided in a life insurance policy is usually - answer✔✔10 days
What does "SHOP" stand in SHOP Exchange? - answer✔✔Small Business Health Options
Program
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
answer✔✔master policy
Which of the following is NOT covered under Workers' Compensation? - answer✔✔Pain and
suffering
Which of the following provides Medicare supplement policies? - answer✔✔Private insurance
companies
A life settlement intermediary is a(n) - answer✔✔association which maintains a facility that
displays offers and counteroffers for purchasers or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already made? -
answer✔✔Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy for an
applicant. - answer✔✔Agent
The purpose of the Coordination of Benefits provision in group accident and health plans is to -
answer✔✔avoid overpayment of claims
Medicaid is intended for - answer✔✔poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - answer✔✔collateral assignment
A disability policy where the premiums are due monthly require a grace period of - answer✔✔10
days
Tom the agent replaced a client's insurance policy when it was not in the client's best interest.
Tom could be found guilty of - answer✔✔twisting
Which type of annuity stops all payments upon the death of the annuitant? - answer✔✔Life
annuity
Decreasing term life insurance is often used to - answer✔✔provide coverage for a home
mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of the
insured? - answer✔✔Specified amount of money
Major medical insurance will typically cover medical expenses that result from - answer✔✔a
negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum of__________
year(s) of coverage - answer✔✔1
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