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Xcel Life Insurance Exam Questions with Accurate Answers 2024
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Xcel Life Insurance Exam
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Xcel Life Insurance ExamReplacement regulation is designed to protect - answer Policyowners from
misrepresentation 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
provision? - answer Clauses
Which of the following is considered to be an alternative to a life settlement? – answer
Accelerin 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 -
answerReferred 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 - answer10 days
What does "SHOP" stand in SHOP Exchange? - answerSmall Business Health Options
Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - answermaster policy
Which of the following is NOT covered under Workers' Compensation? - answerPain
and suffering
, Which of the following provides Medicare supplement policies? - answerPrivate
insurance companies
A life settlement intermediary is a(n) - answerassociation 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? - answerRefund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - answerAgent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - answeravoid overpayment of claims
Medicaid is intended for - answerpoverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - answercollateral assignment
A disability policy where the premiums are due monthly require a grace period of -
answer10 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 - answertwisting
Which type of annuity stops all payments upon the death of the annuitant? - answerLife
annuity
Decreasing term life insurance is often used to - answerprovide coverage for a home
mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - answerSpecified amount of money
Major medical insurance will typically cover medical expenses that result from - answera
negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - answer1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - answeraccident
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