Xcel Life, Accident, Health License Exam 552 Qs with Correct Ans.
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Xcel Life, Accident, Health License
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Xcel Life, Accident, Health License
Xcel Life, Accident, Health License Exam 552 Qs with Correct Ans. Terms like:
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed...
Xcel Life, Accident, Health License Exam 552
Qs with Correct Ans
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived - Answer: The Policy's effective date is earlier than
the present
which of the following does restorative dental treatment cover?
,Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received - Answer: Based on the date an
individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the death of the
insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value - Answer: Specified amount of money
Which type of life insurance offers flexible premiums, a flexible death benefit, and the choice of
how the cash value will be invested?
Which of these premium payment frequencies is not typically available to a policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
Page 2 of 149
,- Monthly - Answer: Bi-weekly
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age - Answer: A deceased worker's dependent parents of any age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect insurance companies
from? - Answer: adverse selection
The open enrollment period for Medicare Part B is... - Answer: January 1 through March 31
The period in which there are no social security benefits for the surviving spouse is called -
Answer: Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches age 60 at the
earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration - Answer: Countersignature
Page 3 of 149
, Major medical expense plans typically use a cost containment measure for emergency hospital
care. This is referred to as a(n)
According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year - Answer: participation or contribution
rules have been violated
The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population - Answer: Protect certain vulnerable
segments of the population
Failure to report background changes with 30 days as required under section 1729.2 of the
California insurance code could subject a license or applicant to
- Suspension
- Denial
Page 4 of 149
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