Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions with 100% Correct Solutions

Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions with 100% Correct Solutions The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - Correct Answer ️️ -insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - Correct Answer ️️ -cancelable The renewability provision in a cancelable policy allows the insurer to cancel or terminate the policy at any time, simply by providing written notification to the insured and refunding any advance premium that has been paid. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) - Correct Answer ️️ -Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered - Correct Answer ️️ -Noncancellable A noncancellable policy cannot be cancelled nor can its premium rates be increased under any circumstances. In what part of an insurance policy are policy benefits found? - Correct Answer ️️ - Declarations Essentially, the insurance declaration page is like a quick guide to the insurance policy, providing all of the basic information the policyholder needs to know. What happens if the insurer discovers that the insured's age was accidentally misstated on an application for an individual life insurance policy? - Correct Answer ️️ -Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age. Health insurance will typically cover which of the following perils? - Correct Answer ️️ - Injury due to accident Accidental injury is typically a covered peril in health insurance. A viatical settlement contract is an agreement between - Correct Answer ️️ -A life insurance policyowner and a viatical settlement provider A viatical settlement contract is an agreement between a life insurance policyowner and a viatical settlement provider. Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? - Correct Answer ️️ -The insurer significantly raises co- insurance charges, deductibles, or co-payment charges According to the Affordable Care Act, grandfathered health plans may lose their grandfathered status if the insurer significantly raises co-insurance charges, deductibles, or co-payment charges Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? - Correct Answer ️️ -Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks. Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care? - Correct Answer ️️ - Assisted living facilities An assisted living facility would best suit an individual who needs some nursing care and supervision but not full-time care. Under Louisiana law, the agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is defined as - Correct Answer ️️ -an appointment The agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is called an appointment. Which of these would NOT be considered a presumptive disability? - Correct Answer ️️ -Loss of a leg or arm The loss of ONE arm or a leg is NOT considered a presumptive disability. A producer's license in Louisiana must be renewed every - Correct Answer ️️ -Two years Producer licenses are issued for periods of 2 years. Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? - Correct Answer ️️ -Assisted