Xcel Life Insurance Exam Practice Questions and Answers

Xcel Life Insurance Exam Practice Questions and Answers Replacement regulation is designed to protect - Correct Answer ️️ -Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Correct Answer ️️ -Preventative health services Which of these will have the highest monthly payout upon annuitization - Correct Answer ️️ -Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Correct Answer ️️ -Clauses Which of the following is considered to be an alternative to a life settlement? - Correct Answer ️️ -Accelered death benefit rider With a scheduled dental policy, how are covered expense paid? - Correct Answer ️️ - Benefits are limited to a specific maximum dollar amount per procedure Coordination of benefits regulation applies to all of the following plans EXCEPT - Correct Answer ️️ -Preferred provider Organization plan Which approach predicts a person's earning potential and determines how much of that amount would be devoted to dependents? - Correct Answer ️️ -Human life value approach Which of the following policies does NOT build cash value? - Correct Answer ️️ -Term Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? - Correct Answer ️️ -Human life value The free look period provided in a life insurance policy is usually - Correct Answer ️️ - 10 days What does "SHOP" stand in SHOP Exchange? - Correct Answer ️️ -Small Business Health Options Program An employer is issued a group medical insurance policy. This single contract is known as a(n) - Correct Answer ️️ -master policy Which of the following is NOT covered under Workers' Compensation? - Correct Answer ️️ -Pain and suffering Which of the following provides Medicare supplement policies? - Correct Answer ️️ - Private insurance companies A life settlement intermediary is a(n) - Correct Answer ️️ -association which maintains a facility that displays offers and counteroffers for purchasers or sellers of life settlement contracts An annuitant dies during the distribution period. What kind of annunity will return to a beneficiary the difference between the annunity value and the income payment already made? - Correct Answer ️️ -Refund annuity The is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. - Correct Answer ️️ -Agent The purpose of the Coordination of Benefits provision in group accident and health plans is to - Correct Answer ️️ -avoid overpayment of claims Medicaid is intended for - Correct Answer ️️ -poverty stricken people A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is called a(n) - Correct Answer ️️ -collateral assignment A disability policy where the premiums are due monthly require a grace period of - Correct Answer ️️ -10 days Tom the agent replaced a client's insurance policy when it was not in