Xcel Life Insurance Exam questions and answers 2023
13 views 0 purchase
Course
Xcel
Institution
Xcel
Replacement regulation is designed to protect - Correct answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Correct answerPreventative health services
Which of these will have the highest monthly payout upon annuitiz...
which of the following is included in the entire contract acco
Written for
Xcel
All documents for this subject (1114)
Seller
Follow
professoraxel
Reviews received
Content preview
Xcel Life Insurance Exam
Replacement regulation is designed to protect - Correct answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Correct answer-
Preventative health services
Which of these will have the highest monthly payout upon annuitization - Correct
answer-Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Correct answer-Clauses
Which of the following is considered to be an alternative to a life settlement? - Correct
answer-Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - Correct answer-
Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
Correct 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? - Correct answer-Human life value approach
Which of the following policies does NOT build cash value? - Correct 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? - Correct answer-Human life value
The free look period provided in a life insurance policy is usually - Correct answer-10
days
What does "SHOP" stand in SHOP Exchange? - Correct answer-Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Correct answer-master policy
Which of the following is NOT covered under Workers' Compensation? - Correct
answer-Pain and suffering
, Which of the following provides Medicare supplement policies? - Correct answer-Private
insurance companies
A life settlement intermediary is a(n) - Correct 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? - Correct answer-Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - Correct answer-Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - Correct answer-avoid overpayment of claims
Medicaid is intended for - Correct answer-poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Correct answer-collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
Correct 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 - Correct answer-twisting
Which type of annuity stops all payments upon the death of the annuitant? - Correct
answer-Life annuity
Decreasing term life insurance is often used to - Correct answer-provide coverage for a
home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Correct answer-Specified amount of money
Major medical insurance will typically cover medical expenses that result from - Correct
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 - Correct answer-1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - Correct answer-accident
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 professoraxel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
