100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Xcel solutions final exam 1. Insuring Which health policy clause specifies the amount of benefits to be paid: Insuring 2. The investment gains from a universal life policy usually go to: The cash value 3. L takes o$10.49
Add to cart
Xcel solutions final exam 1. Insuring Which health policy clause specifies the amount of benefits to be paid: Insuring 2. The investment gains from a universal life policy usually go to: The cash value 3. L takes o
5 views 0 purchase
Course
Xcel
Institution
Xcel
Xcel solutions final exam
1. Insuring Which health policy clause specifies the amount of benefits to be
paid: Insuring
2. The investment gains from a universal life policy usually go to: The cash
value
3. L takes o
1. Insuring Which health policy clause specifies the amount of benefits to bepaidANS
Insuring
2. The investment gains from a universal life policy usually go toANS
The cashvalue
3. L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that
the applicant misstated their age. What will the insurer do?ANS
Adjust the death benefit to a reduced amount
4. An employee is covered under a company group life plan with a $50,000 death benefit.What is the Maximum
amount a spouse may be insured for underthis programANS
$25,000
5. M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M.What
determines the claim M is eligible forANS
Determinedby the terms of the policy
6. A(n) -_-_-_-_-_-_-_ beneficiary may be changed by the policy owner with-out the consent of the
beneficiaryANS
Revocable
7. What is the MINIMUM benefit period that must be offered by a long term carepolicyANS
12 months
8. To terminate an agent's appointment, an insurance company mustANS
Sendtermination notice to the Texas Department of Insurance
9. An agent gives a conditional receipt to a client for an insurance policy aftercollecting the initial premium.
When will the policy become effective?ANS
When the conditions of the receipt are met
10. Which of the following costs would a Basic Hospital/Surgical policy cov-er?ANS
Surgically removing a facial birthmark
11. Which of the following statements is CORRECT about an agent who is taking an insurance
applicationANS
The agent should have the applicant initial anychanges made on the application
12. Which statement is true about a whole life policyANS
Cash value may beborrowed against
13. How long does an insurance company appointment remain in forceANS
Untilterminated
14. Which of the following statements about health coverage for newborns isNOT true?ANS
Coverage is LIMITED to only congenital defects
15. Medicare Part A and Part B do NOT pay forANS
Dental care
16. An insurance company receives E's application for an individual health policy. E did not complete all of
the medical history questions because she could not remember the exact dates. E signed the policy and
submitted it to the insurance company anyway. A few weeks later, E suffers a heart attack andis hospitalized
without completing the medical history questions and paying
, Xcel solutions final exam
the initial premium. E is not insured. Which of the following clauses details theconditions that E did not
meet?ANS
Consideration clause
17. The percentage of an individuals primary insurance amount determines the benefits paid in which of the
following programsANS
Social Security DisabilityIncome
18. Q is severely injured in an automobile accident and becomes totally dis- abled. How many months must
Q be disabled before being able to apply for Social Security disability benefits?ANS
5 months
19. After an insured gives notice of loss, what must he/she do if the insurer does not furnish formsANS
File written proof of loss
20. Which of the following types of care is typically not covered in a long termcare policyANS
acupuncture
21. Which of these does not constitute policy deliveryANS
Policy issued with a rating
22. Which type of plan normally includes hospice benefitsANS
Managed care plans
23. Non-occupational disability coverage is designed forANS
Employees who suffernon work related disabilities, since work related disabilities are covered by workerscompensation
24. A policy of adhesion can only be modified by whomANS
The insurance company
25. G is an accountant who has ten employees and is concerned about how the business would survive
financially if G became disabled.The type of policywhich best addresses this concern isANS
ANS
Business overhead expense
26. An architecture firm would stand to lose a lot of money in the event of the death of its project
manager. Which type of policy should the firmpurchaseANS
Key person life policy
27. A new general property and casualty licensee must complete at LEAST
hours of continuing education within 24 months of initial licensureANS
24
28. Which of the following groups may not be insured by a group life insurancepolicyANS
Individuals who are related by blood
29. InTexas, which of these statements regarding the suicide clause is trueANS
Aninsurer may not use suicide as a defense against payment after the second year
30. Why is an applicants signature required on a life insurance applicationANS
Toattest that the statements on the application are accurate to the best of the appli- cant's knowledge
31. The phrase "transacting business" includesANS
Collecting premiums
32. Which of these arrangements allows one to bypass insurance interestlaws?ANS
Investor-Originated Life Insurance
33. With whom may an agent legally share commissions?ANS
Another agent withthe same Line of insurance
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 Millard. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
