Xcel Life Insurance Exam Study Guide with Complete Solutions
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Course
Xcel
Institution
Xcel
Xcel Life Insurance Exam Study Guide
with Complete Solutions
Replacement regulation is designed to protect - Answer️️ -Policyowners
from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide -
Answer️️ -Preventative health services
Wh...
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
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