1|Page
XCEL Florida Life And Health Exam Simulator Verified
Questions And Answers A+ Grade ||Just Out!!!
P is a new employee and will be obtaining non-contributory
group major medical insurance from her employer. Which of
the following actions must be taken during the open enrollment
period? - ANSWER-Sign an enrollment card
What is the required minimum percentage of employee
participating for non-contributory group health insurance plan
according to Florida law? - ANSWER-0%
Under an individual disability policy in Florida, what is the
minimum schedule of time in which claim must be made to an
insurance? - ANSWER-Monthly
A physician open up a new practice and qualifies for $7000
month disability income policy. What rider would the physician
add if he wants the ability to increase his policy benefits as his
practice and income grow? - ANSWER-Guarantee insurability
option rider
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What action will ensurer take if an interest payment on a policy
loan is not made on time? - ANSWER-Automatically add the
amount of interest due to the loan balance
What type of life insurance are credit policies issued as? -
ANSWER-Term
T, age 70, withdraws cash from a profit-sharing plan and
purchases a straight life annuity. What will this transaction
provide? - ANSWER-Income that cannot be Outlived by the
owner
Which of the following services it's not covered under a
hospitalization expenses policy? - ANSWER-Surgeons fees
Which provision is not a requirement in a group life policy? -
ANSWER-Accidental
When policy owner cash surrender a universal life insurance
policy in its early years, this may be considerate a red flag for
an? - ANSWER-Anti-Money Laundering violation
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Which of the following types of organization are prepaid group
health plans, where members pay in advance for the services of
participating physicians and hospitals that have agreements? -
ANSWER-HMO
What type of policy would only provide coverage for specific
type of illnesses (cancer stroke etc.) - ANSWER-Dread disease
insurance
What type of life policy has a death benefit that adjust
periodically and is written for a specific period of time? -
ANSWER-Decreasing term
What is the purpose of a policy summary? - ANSWER-It
highlights the critical parts of the policy issued
Which of the following types of policies best identifies one in
which the cash value may fluctuate to reflect changing
assumptions regarding mortality cost, interest, and expenses
factors? - ANSWER-Universal life
An insured must notify an insurer of a medical claim within how
many days after an accident? - ANSWER-20
, 4|Page
A term life insurance policy matures? - ANSWER-Up the
insured's death during the term of the policy
In life insurance, the needs approach is used mostly to
establish? - ANSWER-How much life insurance a client should
apply for
Agent J takes an application and initial premium from an
applicant and sends the application in premium check to the
insurance company. The insurance company returns the check
back to J because the check is made out to J instead of the
insurance company. What action should J take? - ANSWER-
Return to the customer, collect a new check made out to the
insurance company, and send the new check out to the
insurance company
In Florida, most life insurance policies have a contestability
period of - ANSWER-2 years
When an insurer issues a policy that refuses to cover certain
risk, this is referred to as ? - ANSWER-Exclusion
XCEL Florida Life And Health Exam Simulator Verified
Questions And Answers A+ Grade ||Just Out!!!
P is a new employee and will be obtaining non-contributory
group major medical insurance from her employer. Which of
the following actions must be taken during the open enrollment
period? - ANSWER-Sign an enrollment card
What is the required minimum percentage of employee
participating for non-contributory group health insurance plan
according to Florida law? - ANSWER-0%
Under an individual disability policy in Florida, what is the
minimum schedule of time in which claim must be made to an
insurance? - ANSWER-Monthly
A physician open up a new practice and qualifies for $7000
month disability income policy. What rider would the physician
add if he wants the ability to increase his policy benefits as his
practice and income grow? - ANSWER-Guarantee insurability
option rider
,2|Page
What action will ensurer take if an interest payment on a policy
loan is not made on time? - ANSWER-Automatically add the
amount of interest due to the loan balance
What type of life insurance are credit policies issued as? -
ANSWER-Term
T, age 70, withdraws cash from a profit-sharing plan and
purchases a straight life annuity. What will this transaction
provide? - ANSWER-Income that cannot be Outlived by the
owner
Which of the following services it's not covered under a
hospitalization expenses policy? - ANSWER-Surgeons fees
Which provision is not a requirement in a group life policy? -
ANSWER-Accidental
When policy owner cash surrender a universal life insurance
policy in its early years, this may be considerate a red flag for
an? - ANSWER-Anti-Money Laundering violation
,3|Page
Which of the following types of organization are prepaid group
health plans, where members pay in advance for the services of
participating physicians and hospitals that have agreements? -
ANSWER-HMO
What type of policy would only provide coverage for specific
type of illnesses (cancer stroke etc.) - ANSWER-Dread disease
insurance
What type of life policy has a death benefit that adjust
periodically and is written for a specific period of time? -
ANSWER-Decreasing term
What is the purpose of a policy summary? - ANSWER-It
highlights the critical parts of the policy issued
Which of the following types of policies best identifies one in
which the cash value may fluctuate to reflect changing
assumptions regarding mortality cost, interest, and expenses
factors? - ANSWER-Universal life
An insured must notify an insurer of a medical claim within how
many days after an accident? - ANSWER-20
, 4|Page
A term life insurance policy matures? - ANSWER-Up the
insured's death during the term of the policy
In life insurance, the needs approach is used mostly to
establish? - ANSWER-How much life insurance a client should
apply for
Agent J takes an application and initial premium from an
applicant and sends the application in premium check to the
insurance company. The insurance company returns the check
back to J because the check is made out to J instead of the
insurance company. What action should J take? - ANSWER-
Return to the customer, collect a new check made out to the
insurance company, and send the new check out to the
insurance company
In Florida, most life insurance policies have a contestability
period of - ANSWER-2 years
When an insurer issues a policy that refuses to cover certain
risk, this is referred to as ? - ANSWER-Exclusion
