XCEL NYS EXAM SIMULATOR
COMPLETE QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: How many employees must an employer have for a
terminated employee to be eligible for COBRA?
Answer:
20
Question 2: An insured under a Major Medical expense plan with a
zero deductible and 80/20 coinsurance provision files a $1,000
claim. How much of this claim is the insured responsible for?
Answer:
$200
Question 3: Medicaid is a government-funded program designed to
provide health care to
Answer:
poor people
Question 4: A rollover from a Traditional IRA to another IRA MUST
be done within ___ days to avoid tax consequences.
Answer:
60
,Question 5: Jennifer is required to pay a specific sum out of pocket
before any benefits are paid in a year. Her health policy most likely
contains a(n)
Answer:
deductible
Question 6: Sharon is the policyowner of a $50,000 life insurance
policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain
Mike's signature in order to change the beneficiary, what kind of
beneficiary designation is this?
Answer:
Irrevocable
Question 7: What percentage of a participant's income are group
long-term disability benefit amounts typically limited to?
Answer:
60%
Question 8: Employees are required to work at least _____ hours
per week to become eligible for a small employer health plan
Answer:
20
Question 9: Which of the following statement is TRUE about
Medicaid?
Answer:
, It is funded by federal, state and local taxes
Question 10: A disability elimination period is best described as a
Answer:
time deductible
Question 11: Which of the following statements regarding the Fair
Credit Reporting Act is TRUE?
Answer:
An insurer does not need to discuss any credit history inconsistencies with the
applicant
Question 12: The Fair Credit and Reporting Act's main purpose is
to
Answer:
protect consumers with guidelines regarding credit reporting and distribution
Question 13: Which of the following would be considered an
underwriting duty of an agent?
Answer:
Completing all applications and collecting initial premiums
Question 14: The conversion privilege under a group life plan
allows an employee to convert to a
Answer:
, individual plan upon employment termination
Question 15: Which of the following annuity payout options makes
no additional payments regardless of when the annuitant dies?
Answer:
Life only
Question 16: The policyholder for a group health benefit plan is
considered to be the
Answer:
Employer
Question 17: Which of the following is NOT an eligible dependent
on an Accident and Health policy?
Answer:
27 year old married child
Question 18: Which type of life insurance policy pays the face
amount at the end of the specified period if the insured is still
alive?
Answer:
Endowment policy
Question 19: Upon meeting company requirements a lapsed life
insurance policy may be reinstated within ____ year(s).
Answer:
COMPLETE QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: How many employees must an employer have for a
terminated employee to be eligible for COBRA?
Answer:
20
Question 2: An insured under a Major Medical expense plan with a
zero deductible and 80/20 coinsurance provision files a $1,000
claim. How much of this claim is the insured responsible for?
Answer:
$200
Question 3: Medicaid is a government-funded program designed to
provide health care to
Answer:
poor people
Question 4: A rollover from a Traditional IRA to another IRA MUST
be done within ___ days to avoid tax consequences.
Answer:
60
,Question 5: Jennifer is required to pay a specific sum out of pocket
before any benefits are paid in a year. Her health policy most likely
contains a(n)
Answer:
deductible
Question 6: Sharon is the policyowner of a $50,000 life insurance
policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain
Mike's signature in order to change the beneficiary, what kind of
beneficiary designation is this?
Answer:
Irrevocable
Question 7: What percentage of a participant's income are group
long-term disability benefit amounts typically limited to?
Answer:
60%
Question 8: Employees are required to work at least _____ hours
per week to become eligible for a small employer health plan
Answer:
20
Question 9: Which of the following statement is TRUE about
Medicaid?
Answer:
, It is funded by federal, state and local taxes
Question 10: A disability elimination period is best described as a
Answer:
time deductible
Question 11: Which of the following statements regarding the Fair
Credit Reporting Act is TRUE?
Answer:
An insurer does not need to discuss any credit history inconsistencies with the
applicant
Question 12: The Fair Credit and Reporting Act's main purpose is
to
Answer:
protect consumers with guidelines regarding credit reporting and distribution
Question 13: Which of the following would be considered an
underwriting duty of an agent?
Answer:
Completing all applications and collecting initial premiums
Question 14: The conversion privilege under a group life plan
allows an employee to convert to a
Answer:
, individual plan upon employment termination
Question 15: Which of the following annuity payout options makes
no additional payments regardless of when the annuitant dies?
Answer:
Life only
Question 16: The policyholder for a group health benefit plan is
considered to be the
Answer:
Employer
Question 17: Which of the following is NOT an eligible dependent
on an Accident and Health policy?
Answer:
27 year old married child
Question 18: Which type of life insurance policy pays the face
amount at the end of the specified period if the insured is still
alive?
Answer:
Endowment policy
Question 19: Upon meeting company requirements a lapsed life
insurance policy may be reinstated within ____ year(s).
Answer:
