Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions with 100% Correct Answers
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Course
Xcel
Institution
Xcel
Xcel Testing Solutions- Life and Health Insurance- Weighted
Exam- 150 Questions with 100% Correct Answers
The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - Answer️️ -insurance sales calls
Charities, political organizations, and surveys are all of...
Xcel Testing Solutions- Life and Health Insurance- Weighted
Exam- 150 Questions with 100% Correct Answers
The Do Not Call Registry offers exemptions for calls placed from all of the
following EXCEPT - Answer✔️✔️-insurance sales calls
Charities, political organizations, and surveys are all offered exemptions
from The Do Not Call Registry
The type of policy where the insurer can send a notice to the insured that
the policy has been cancelled in the middle of the term is called -
Answer✔️✔️-cancelable
The renewability provision in a cancelable policy allows the insurer to
cancel or terminate the policy at any time, simply by providing written
notification to the insured and refunding any advance premium that has
been paid.
Barbara's policy includes a rider which allows her to purchase additional
insurance at specific dates or events without evidence of insurability. This
rider is called a(n) - Answer✔️✔️-Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase
additional insurance at specific dates or events without evidence of
insurability.
Disability Income plans which require that the insurer can NEVER change
or alter premium rates are usually considered - Answer✔️✔️-Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be
increased under any circumstances.
In what part of an insurance policy are policy benefits found? - Answer✔️✔️-
Declarations
Essentially, the insurance declaration page is like a quick guide to the
insurance policy, providing all of the basic information the policyholder
needs to know.
What happens if the insurer discovers that the insured's age was
accidentally misstated on an application for an individual life insurance
policy? - Answer✔️✔️-Benefits will be calculated according to how much
coverage the premium paid would have purchased for the correct age
Benefits will be calculated according to how much coverage the premium
paid would have purchased for the correct age.
Health insurance will typically cover which of the following perils? -
Answer✔️✔️-Injury due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - Answer✔️✔️-A life
insurance policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life insurance
policyowner and a viatical settlement provider.
Under the Affordable Care Act, how would a grandfathered health plan
lose its grandfathered status? - Answer✔️✔️-The insurer significantly raises
co-insurance charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may
lose their grandfathered status if the insurer significantly raises co-
insurance charges, deductibles, or co-payment charges
Which of these techniques will remove the risk of losing money in the stock
market by never purchasing stocks? - Answer✔️✔️-Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock
market by never investing in stocks.
Which of the following nursing home options would BEST suit an
individual who needs some nursing care and supervision but NOT full-
time care? - Answer✔️✔️-Assisted living facilities
An assisted living facility would best suit an individual who needs some
nursing care and supervision but not full-time care.
Under Louisiana law, the agreement between an insurance producer and
insurer under which the insurance producer, for compensation, may sell,
solicit, or negotiate policies issued by the insurer is defined as -
Answer✔️✔️-an appointment
The agreement between an insurance producer and insurer under which
the insurance producer, for compensation, may sell, solicit, or negotiate
policies issued by the insurer is called an appointment.
Which of these would NOT be considered a presumptive disability? -
Answer✔️✔️-Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
A producer's license in Louisiana must be renewed every - Answer✔️✔️-
Two years
Producer licenses are issued for periods of 2 years.
Bill requires some nursing care and supervision but NOT full-time care.
Which of these nursing home options would best serve him? - Answer✔️✔️-
Assisted living
An assisted living facility would best suit an individual who needs some
nursing care and supervision but not full-time care.
The open enrollment period for Medicare Supplements begins at age -
Answer✔️✔️-65
Open enrollment for Medicare Supplements begins at the age the
individual becomes eligible for Medicare, which is typically age 65.
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