XCEL LIFE AND HEALTH INSURANCE FINAL EXAM 2025 NEWEST ACTUAL
EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Fraternal Benefit Society - ANSWER What is an organization that solicits insurance
only to its members?
An individual policy is given to each member - ANSWER All of the following
statements regarding group health insurance is true, EXCEPT:
31 days - ANSWER According to the Mandatory Uniform Policy Provisions, what is
the maximum amount of time after the premium due date during which the policy
remains in force even though the premium has not been paid?
Return to the customer, collect a new check made out to the insurance company,
and send the new check out ot the insurance company - ANSWER Agent J takes an
application and initial premium from an applicant and sends the application and
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
compnay. What action should J take?
Payor Clause - ANSWER Which of the following provisions guarantees that
premiums will be waived if a Juvenile Life Policyowner becomes disabled?
may cancel the policy for nonpayment only - ANSWER Under a Guaranteed
Renewable health insurance policy, the insurer
a representation - ANSWER A statement made by an insured in an insurance
application that must be true to the best of one's knowledge and which becomes
a part of the contract is known as:
conditional, depending on the insurer's underwriting guidlines - ANSWER T ius
given a receipt after completing a life insurance application and paying the initial
premium. Under this situation, T's coverage is
,Benefit's are taxable to T - ANSWER T is reciving $3,000/month from a Disability
Income policy in which T's employer had paid the premiums. How are the $3,000
benefits payments taxable?
An insurer may not use suicide as a defense against payment after the second year
- ANSWER In Texas, which of these statements regarding the Suicide clause is
TRUE?
Fiduciary responsibility - ANSWER Taking recipt of premiums and holding them for
the insurance comoany is an example of:
Insuring - ANSWER The ______ clause identifies which losses resulting from an
accident or sickness are insured by the policy.
The premium has not been paid by the insured - ANSWER A Medicare Supplement
policy may be cancelled for which of the following reasons?
Transportation to and from a treatment facility - ANSWER Which of the following
benefits is NOT required under a group health plan for drug and alcohol
treatment?
notify an insurer of a claim within a specified time - ANSWER The Notice of Claims
provision requires a policyowner to:
Proceeds will be paid to P's estate - ANSWER K is the insured and P is the sole
beneficiary of an Accidental Death and Dismemberment (AD&D) insurance policy.
Both are involved in a fatal accident where K dies before P. Under the Common
Disaster provision, which of these statements is true?
individuals who are blood related - ANSWER Which of the following groups may
NOT be insured by a group life insurance policy?
, correct the information and have the prospect initial the change - ANSWER D the
agent met with a prospect and ended up selling an insurance policy. When filling
out the insurance application, D makes a mistake. In this situatuion, D MUST
Wait at least 5 years before applying for a new license - ANSWER What is required
for an agent whose license has been revoked?
prevents an insured covered by two health plans from making a profit on a
covered loss - ANSWER The Coordination of Benefits provision:
Any changes made on the application require the applicant's initials - ANSWER
When an insurance application is taken by a producer, which of these statements
is true?
Morbidity rate - ANSWER Which of these is NOT an element of Life insurance
premiums?
31 days - ANSWER Every 12-months after the initial enrollment period, an HMO
must hold an open enrollment period of
Anti-Money Laundering violation - ANSWER When a policyowner cash surrenders
a Universal Life Insurance policy in it's early years, this may be considered a red
flag for a(n):
Insurer will likely treat as a pre-existing condition which may not be covered for
one year - ANSWER T was treated for an ailment 2 months prior to applying for a
health insurance policy. This condition was noted on the application and the policy
was issued shortly afterwards. How will the insurer likely consider the condition?
10% - ANSWER Premature IRA distributions are assessed a penalty tax of:
Federal Government - ANSWER Which of these is NOT a source of funding for
Social Security benefits?
EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Fraternal Benefit Society - ANSWER What is an organization that solicits insurance
only to its members?
An individual policy is given to each member - ANSWER All of the following
statements regarding group health insurance is true, EXCEPT:
31 days - ANSWER According to the Mandatory Uniform Policy Provisions, what is
the maximum amount of time after the premium due date during which the policy
remains in force even though the premium has not been paid?
Return to the customer, collect a new check made out to the insurance company,
and send the new check out ot the insurance company - ANSWER Agent J takes an
application and initial premium from an applicant and sends the application and
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
compnay. What action should J take?
Payor Clause - ANSWER Which of the following provisions guarantees that
premiums will be waived if a Juvenile Life Policyowner becomes disabled?
may cancel the policy for nonpayment only - ANSWER Under a Guaranteed
Renewable health insurance policy, the insurer
a representation - ANSWER A statement made by an insured in an insurance
application that must be true to the best of one's knowledge and which becomes
a part of the contract is known as:
conditional, depending on the insurer's underwriting guidlines - ANSWER T ius
given a receipt after completing a life insurance application and paying the initial
premium. Under this situation, T's coverage is
,Benefit's are taxable to T - ANSWER T is reciving $3,000/month from a Disability
Income policy in which T's employer had paid the premiums. How are the $3,000
benefits payments taxable?
An insurer may not use suicide as a defense against payment after the second year
- ANSWER In Texas, which of these statements regarding the Suicide clause is
TRUE?
Fiduciary responsibility - ANSWER Taking recipt of premiums and holding them for
the insurance comoany is an example of:
Insuring - ANSWER The ______ clause identifies which losses resulting from an
accident or sickness are insured by the policy.
The premium has not been paid by the insured - ANSWER A Medicare Supplement
policy may be cancelled for which of the following reasons?
Transportation to and from a treatment facility - ANSWER Which of the following
benefits is NOT required under a group health plan for drug and alcohol
treatment?
notify an insurer of a claim within a specified time - ANSWER The Notice of Claims
provision requires a policyowner to:
Proceeds will be paid to P's estate - ANSWER K is the insured and P is the sole
beneficiary of an Accidental Death and Dismemberment (AD&D) insurance policy.
Both are involved in a fatal accident where K dies before P. Under the Common
Disaster provision, which of these statements is true?
individuals who are blood related - ANSWER Which of the following groups may
NOT be insured by a group life insurance policy?
, correct the information and have the prospect initial the change - ANSWER D the
agent met with a prospect and ended up selling an insurance policy. When filling
out the insurance application, D makes a mistake. In this situatuion, D MUST
Wait at least 5 years before applying for a new license - ANSWER What is required
for an agent whose license has been revoked?
prevents an insured covered by two health plans from making a profit on a
covered loss - ANSWER The Coordination of Benefits provision:
Any changes made on the application require the applicant's initials - ANSWER
When an insurance application is taken by a producer, which of these statements
is true?
Morbidity rate - ANSWER Which of these is NOT an element of Life insurance
premiums?
31 days - ANSWER Every 12-months after the initial enrollment period, an HMO
must hold an open enrollment period of
Anti-Money Laundering violation - ANSWER When a policyowner cash surrenders
a Universal Life Insurance policy in it's early years, this may be considered a red
flag for a(n):
Insurer will likely treat as a pre-existing condition which may not be covered for
one year - ANSWER T was treated for an ailment 2 months prior to applying for a
health insurance policy. This condition was noted on the application and the policy
was issued shortly afterwards. How will the insurer likely consider the condition?
10% - ANSWER Premature IRA distributions are assessed a penalty tax of:
Federal Government - ANSWER Which of these is NOT a source of funding for
Social Security benefits?
