100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Xcel solutions exam 2 Questions and Answers Rated A+ $14.49   Add to cart

Exam (elaborations)

Xcel solutions exam 2 Questions and Answers Rated A+

 0 view  0 purchase
  • Course
  • Xcel solution
  • Institution
  • Xcel Solution

Xcel solutions exam 2

Preview 3 out of 26  pages

  • November 5, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Xcel solution
  • Xcel solution
avatar-seller
Dreamer252
Xcel solutions exam 2

Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home?

Respite care
Continuing Care
Home health care
Custodial Care - answer Home health care

Which type of policy combines the flexibility of a universal life policy with investment
choices?

Adjustable universal life policy
Flexible universal life policy
Variable universal life policy
Modified universal life policy - answer Variable universal life policy

The election of COBRA for continuation of health coverage will

increase the coverage and lower premium
maintain the same coverage and increase premium
increase out-of-pocket costs and lower premium
decrease out-of-pocket costs and maintain same premium - answermaintain the same
coverage and increase premium

Under Michigan Insurance Code, Chapter 45, financial loss can be defined as

loss if income
restrictive fees
punitive penalties
additional fines - answerloss of income

All of these are characteristics of a universal life insurance policy EXCEPT

Flexible death benefit
fixed surrender value
flexible premiums
builds cash value - answerfixed surrender value

The acceptance of a credit life application requires the submission of a certificate of
insurance to the insured within ____ days.

,10
20
30
40 - answer30

Small employers who are sponsored by an insurer to provide group benefits to its
employees are called

Fraternal Benefit society
Surplus line brokers
Lloyd of London
MEWA - answerMEWA

Coming from an insurance point of view, which of the following is the main risk
associated with disability?

loss of limbs
loss of income
decreased work skills
decreased mobility - answerloss of income

How are survivorship life insurance policies helpful in estate planning?

provide funds to help fund retirement
provide funds to help pay taxes
provide funds for funeral expenses
provide tax deductions for premium payments - answerprovide funds to help pay taxes

The act of using misrepresentation to induce an insured person to terminate an existing
policy and purchase a new policy is referred to as

twisting
subrogation
defamation
intimidation - answertwisting

Pat owns a 20-pay life policy with a paid-up dividend option. Which of the following
statements is true?

the policy may be paid up early by using accumulated cash values
the policy may be paid up early by using policy dividends
the policy's premium will increase after 20 years
the policy's cash value steadily decrease after 20 years - answerthe policy may be paid
up early by using policy dividends

What is Medicare Part B also known as?

, Medical Supplementary
Supplementary medical insurance
comprehensive insurance
medicaid - answersupplementary medical insurance

Which of these is NOT considered to be a nonforfeiture option in a whole life insurance
policy?

interest only
reduced paid-up insurance
extended term insurance
cash surrender - answerinterest only

Under a disability income policy, which provision would be payable if the cause of an
injury is unexpected and accidental?

presumptive disability provision
absolute accidental provision
accidental death benefit provision
accidental bodily injury provision - answeraccidental bodily injury provision

In Michigan, a person providing insurance advice to a person or business for a fee is
required to hold which license?

adjuster
producer
counselor
limited lines - answercounselor

What type of policy would only provide coverage for specific types of illnesses (cancer,
stroke, etc)?

MEWA
Blanket insurance
Dread disease insurance
Disability insurance - answerDread disease insurance

What guarantees that the statements supplied by an insurance applicant are true?

Assurance
Promise
Representation
Warranty - answerWarranty

The _______ reserves the right to renew a small employer health plan.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $14.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82215 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$14.49
  • (0)
  Add to cart