REX-PN / GUARANTEED SUCCES
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ Health Insurance Exchanges (HIX).
Answer: there are categories of coverage for applicants; each state has a new
transparent and competitive insurance marketplace; for individuals and
small firms with fewer than 100 employees
◍ coverage under the ACA.
Answer: must provide these services: maternity and newborn care; mental
health and substance abuse disorder services; prescription drugs; rehab
services and devices; preventive and wellness services and chronic disease
management
◍ out-of-pocket limit.
Answer: the maximum amount the insured has to pay in a year; purpose is to
reduce the financial burden of a catastrophic loss
◍ unemployment insurance.
Answer: federal-state programs that pay weekly cash benefits to workers
who are involuntarily unemployed; provide cash income during
involuntarily unemployment, help unemployed works find jobs, encourage
employers to stabilize employment, and helps stabile the economy
◍ ordinary life insurance.
Answer: level-premium policy that provides cash values and lifetime
protection to age 121; premiums are level through premium-paying period;
excess premiums paid during early years are accumulated at compound
interest (legal reserve), used to supplement the inadequate premiums paid
during the later years of the policy
,◍ What is it called when the buyer takes over the original payment, the
original loan, and the original interest rate of the seller's existing loan?.
Answer: an assumption
◍ For a VA Loan, the veteran (with Certificate of Eligibility) must have served
__________ days active service..
Answer: 181
◍ What forms provide a means for borrowers to comparison shop more
effectively for competing loan offers?.
Answer: The Loan Estimate and Closing Disclosure
◍ What kind of loan provides no government guarantees of insurance but
insurance from private insurance companies?.
Answer: Conventional Insured
◍ Uneven Quality of Medical Care.
Answer: quality is said to be ______ as it varies by physician, geographic
location, and type of disease
◍ What is the use of borrowed funds?.
Answer: Leverage
◍ problems with workers compensation.
Answer: rising share of medical cost to total benefits; fraud and abuse;
impact of an aging workforce on workers compensation costs; overuse of
opiate prescription drugs in workers compensation; impact of ACA
◍ consequences of being uninsured.
Answer: delay or skip medical care; uninsured tend to pay more when they
do receive medical care; unlikely to have a regular source of medical care;
no access to regular screenings or preventative care; uninsured are sicker or
die earlier than people with insurance
◍ Who, in a Deed of Trust, holds "Naked Legal Title" (one without possessory
rights), and can claim the property without going through the courts?.
Answer: the trustee
,◍ What is the loan balance called?.
Answer: the principal
◍ workers compensation.
Answer: social insurance program that provides medical care, cash benefits,
and rehab services to workers who are injured or sick form job-related
accidents or disease; employer is held absolutely liable for job-related
injuries regardless of who is at fault
◍ The FHA is overseen by __________..
Answer: The Department of Housing and Urban Development (HUD)
◍ When the lender takes back a house because the homeowner has not made
mortgage payments. The property becomes a lender-owned property
(REO)..
Answer: Foreclosure
◍ reasons why people are uninsured.
Answer: health insurance is too expensive; lack of employment/ job loss; not
eligible for coverage; don't need it; refused coverage (prior to ACA);
eligible for Medicaid but fail to sign up view health insurance as low
priority
◍ What is the RECD? It makes loans for home purchases or construction in
rural areas and small communities outside metropolitan areas..
Answer: The Rural Economic and Community Development
◍ married tax.
Answer: 50% taxable if income between 32000 and 44000; 85% if higher
◍ In a Deed of Trust the trustor is the __________. When title insurance is
required by the lender (the beneficiary) it is usually the __________ who
pays for it..
Answer: borrowertrustor
◍ Advantages of Real Estate Investment: (3 things).
Answer: Above average rate of returnTax benefitsLand can never be
, depreciated.
◍ Beneficiary Designation.
Answer: life insurance contractual provision; naming people who shall
receive the benefits upon your untimely death
◍ A mortgage given as part of the buyer's consideration (cash) for the
purchase of real property, and delivered at the same time that the real
property is transferred as a simultaneous part of the transaction..
Answer: Part Purchase Money
◍ defects in financing health care.
Answer: system is mostly based on ability to pay; distortions in medical care
◍ elimination period.
Answer: a waiting period that must be satisfied before a claim is paid;
typically used in disability contracts
◍ __________ is a day on which the creditor's offices are open to the public
for carrying out substantially all of its business functions..
Answer: a business day
◍ straight deductible.
Answer: must be satisfied for each and every loss
◍ How is interest always expressed?.
Answer: as a percentage per year
◍ groups eligible to receive disability.
Answer: disabled worker, spouse of a disabled worker-- have child,
unmarried children younger than 18, unmarried disabled children
◍ Original Medicare Plan.
Answer: hos[ital insurance; payment to hospitals; medical insurance;
monthly payments; financing of medicare
◍ Lower payments first year, then payments increase..
Answer: Graduated Payment Plan
COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ Health Insurance Exchanges (HIX).
Answer: there are categories of coverage for applicants; each state has a new
transparent and competitive insurance marketplace; for individuals and
small firms with fewer than 100 employees
◍ coverage under the ACA.
Answer: must provide these services: maternity and newborn care; mental
health and substance abuse disorder services; prescription drugs; rehab
services and devices; preventive and wellness services and chronic disease
management
◍ out-of-pocket limit.
Answer: the maximum amount the insured has to pay in a year; purpose is to
reduce the financial burden of a catastrophic loss
◍ unemployment insurance.
Answer: federal-state programs that pay weekly cash benefits to workers
who are involuntarily unemployed; provide cash income during
involuntarily unemployment, help unemployed works find jobs, encourage
employers to stabilize employment, and helps stabile the economy
◍ ordinary life insurance.
Answer: level-premium policy that provides cash values and lifetime
protection to age 121; premiums are level through premium-paying period;
excess premiums paid during early years are accumulated at compound
interest (legal reserve), used to supplement the inadequate premiums paid
during the later years of the policy
,◍ What is it called when the buyer takes over the original payment, the
original loan, and the original interest rate of the seller's existing loan?.
Answer: an assumption
◍ For a VA Loan, the veteran (with Certificate of Eligibility) must have served
__________ days active service..
Answer: 181
◍ What forms provide a means for borrowers to comparison shop more
effectively for competing loan offers?.
Answer: The Loan Estimate and Closing Disclosure
◍ What kind of loan provides no government guarantees of insurance but
insurance from private insurance companies?.
Answer: Conventional Insured
◍ Uneven Quality of Medical Care.
Answer: quality is said to be ______ as it varies by physician, geographic
location, and type of disease
◍ What is the use of borrowed funds?.
Answer: Leverage
◍ problems with workers compensation.
Answer: rising share of medical cost to total benefits; fraud and abuse;
impact of an aging workforce on workers compensation costs; overuse of
opiate prescription drugs in workers compensation; impact of ACA
◍ consequences of being uninsured.
Answer: delay or skip medical care; uninsured tend to pay more when they
do receive medical care; unlikely to have a regular source of medical care;
no access to regular screenings or preventative care; uninsured are sicker or
die earlier than people with insurance
◍ Who, in a Deed of Trust, holds "Naked Legal Title" (one without possessory
rights), and can claim the property without going through the courts?.
Answer: the trustee
,◍ What is the loan balance called?.
Answer: the principal
◍ workers compensation.
Answer: social insurance program that provides medical care, cash benefits,
and rehab services to workers who are injured or sick form job-related
accidents or disease; employer is held absolutely liable for job-related
injuries regardless of who is at fault
◍ The FHA is overseen by __________..
Answer: The Department of Housing and Urban Development (HUD)
◍ When the lender takes back a house because the homeowner has not made
mortgage payments. The property becomes a lender-owned property
(REO)..
Answer: Foreclosure
◍ reasons why people are uninsured.
Answer: health insurance is too expensive; lack of employment/ job loss; not
eligible for coverage; don't need it; refused coverage (prior to ACA);
eligible for Medicaid but fail to sign up view health insurance as low
priority
◍ What is the RECD? It makes loans for home purchases or construction in
rural areas and small communities outside metropolitan areas..
Answer: The Rural Economic and Community Development
◍ married tax.
Answer: 50% taxable if income between 32000 and 44000; 85% if higher
◍ In a Deed of Trust the trustor is the __________. When title insurance is
required by the lender (the beneficiary) it is usually the __________ who
pays for it..
Answer: borrowertrustor
◍ Advantages of Real Estate Investment: (3 things).
Answer: Above average rate of returnTax benefitsLand can never be
, depreciated.
◍ Beneficiary Designation.
Answer: life insurance contractual provision; naming people who shall
receive the benefits upon your untimely death
◍ A mortgage given as part of the buyer's consideration (cash) for the
purchase of real property, and delivered at the same time that the real
property is transferred as a simultaneous part of the transaction..
Answer: Part Purchase Money
◍ defects in financing health care.
Answer: system is mostly based on ability to pay; distortions in medical care
◍ elimination period.
Answer: a waiting period that must be satisfied before a claim is paid;
typically used in disability contracts
◍ __________ is a day on which the creditor's offices are open to the public
for carrying out substantially all of its business functions..
Answer: a business day
◍ straight deductible.
Answer: must be satisfied for each and every loss
◍ How is interest always expressed?.
Answer: as a percentage per year
◍ groups eligible to receive disability.
Answer: disabled worker, spouse of a disabled worker-- have child,
unmarried children younger than 18, unmarried disabled children
◍ Original Medicare Plan.
Answer: hos[ital insurance; payment to hospitals; medical insurance;
monthly payments; financing of medicare
◍ Lower payments first year, then payments increase..
Answer: Graduated Payment Plan
