XCEL Solutions: Virginia 150
Questions Weighted Real Time Exam
Questions with complete solution
2025/2026
An accident and Health insurance applicant who fails to includes material medical information on an
application would be reason for the insurer to - correct answer ✔deny any future claims and to refund
the premium
S has a Whole Life Policy with a premium payment due soon. Which provision would keep the policy in
force if S does not make the required payment and the policy has adequate cash value from which the
premium payment can be made? - correct answer ✔Automatic Policy Loan
In order for coverage on a non-medical insurance application to take effect the same day, the producer
must collect a signed application and - correct answer ✔the initial premium
M has a Major insurance policy with a $200 flat deductible and an 80% Coinsurance clause. If M incurs a
$2,200 claim for an eligible medical expense, how much will M receive in payment for this claim? -
correct answer ✔$1,600
What benefit does the Payor clause on a Juvenile Life policy provide ? - correct answer ✔Premiums are
waived if payor becomes disabled
An agent offers an applicant something of value not mentioned in the contract as an inducement to
purchase an insurance policy. The illegal act is called - correct answer ✔rebating
If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be
performed in all these situations EXCEPT: - correct answer ✔When the state prohibits this by law
, Which plan is intended to be used by a sole proprietor and the employees of that business? - correct
answer ✔Keogh Plan
A policy owner's rights are limited under which beneficiary designation? - correct answer ✔Irrevocable
T circulated false statements that were maliciously critical of an insurer's financial condition. T may be
found guilty of - correct answer ✔Defamation
The phrase "This policy will only pay for semi-private room" is an example of a(n) - correct answer
✔Internal limit
All of the following are limited plans, EXCEPT: - correct answer ✔Life Insurance Policies
Which of the following does NOT qualify as a creditable coverage under the Health Insurance Portability
and Accountability Act (HIPAA)? - correct answer ✔Accident Plans
For which of the following expenses does a Basic Hospital policy pay? - correct answer ✔Hospital room
and board
If an agent holds 1 license type, the biennial continuing education requirement is _____ hours. - correct
answer ✔16 hrs
Which of the following health policy provisions state that the producer does NOT have the authority to
change the policy or waive any of its provisions? - correct answer ✔Entire Contract
Which of the following statements is true about most Blue Cross/Blue Shield organizations? - correct
answer ✔They are a nonprofit organization
Questions Weighted Real Time Exam
Questions with complete solution
2025/2026
An accident and Health insurance applicant who fails to includes material medical information on an
application would be reason for the insurer to - correct answer ✔deny any future claims and to refund
the premium
S has a Whole Life Policy with a premium payment due soon. Which provision would keep the policy in
force if S does not make the required payment and the policy has adequate cash value from which the
premium payment can be made? - correct answer ✔Automatic Policy Loan
In order for coverage on a non-medical insurance application to take effect the same day, the producer
must collect a signed application and - correct answer ✔the initial premium
M has a Major insurance policy with a $200 flat deductible and an 80% Coinsurance clause. If M incurs a
$2,200 claim for an eligible medical expense, how much will M receive in payment for this claim? -
correct answer ✔$1,600
What benefit does the Payor clause on a Juvenile Life policy provide ? - correct answer ✔Premiums are
waived if payor becomes disabled
An agent offers an applicant something of value not mentioned in the contract as an inducement to
purchase an insurance policy. The illegal act is called - correct answer ✔rebating
If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be
performed in all these situations EXCEPT: - correct answer ✔When the state prohibits this by law
, Which plan is intended to be used by a sole proprietor and the employees of that business? - correct
answer ✔Keogh Plan
A policy owner's rights are limited under which beneficiary designation? - correct answer ✔Irrevocable
T circulated false statements that were maliciously critical of an insurer's financial condition. T may be
found guilty of - correct answer ✔Defamation
The phrase "This policy will only pay for semi-private room" is an example of a(n) - correct answer
✔Internal limit
All of the following are limited plans, EXCEPT: - correct answer ✔Life Insurance Policies
Which of the following does NOT qualify as a creditable coverage under the Health Insurance Portability
and Accountability Act (HIPAA)? - correct answer ✔Accident Plans
For which of the following expenses does a Basic Hospital policy pay? - correct answer ✔Hospital room
and board
If an agent holds 1 license type, the biennial continuing education requirement is _____ hours. - correct
answer ✔16 hrs
Which of the following health policy provisions state that the producer does NOT have the authority to
change the policy or waive any of its provisions? - correct answer ✔Entire Contract
Which of the following statements is true about most Blue Cross/Blue Shield organizations? - correct
answer ✔They are a nonprofit organization
