Xcel Laws and Rules | Questions
and right answers | Latest version
2024/2025
When an existing life insurance policy is terminated so that a new life insurance policy can be
purchased, this transaction is referred to as: - ANSWER -replacement
Who negotiates viatical settlements between a policyowner and a viatical settlement provider? -
ANSWER -viatical settlement broker
What type of insurance company is domiciled in England, but conducts business in North Carolina? -
ANSWER -foreign
Chemical dependency treatment under a Group Health policy MUST include (over the life of the
contract) a minimum benefit of: - ANSWER -$16,000
North Carolina requires that an insurance agent must complete ____ hours of continuing education
on the subject of law and ethics every two years. - ANSWER -3
If a life insurance company becomes insolvent, the fund that guarantees policyowners payment of
death benefits is known as the: - ANSWER -Life and Health Insurance Guaranty Association
Under the Affordable Care Act (ACA), health coverage is provided for dependents up to the age of: -
ANSWER -26
A group health policy's approved premium rate is guaranteed by the insurer for an initial period of at
LEAST ____ months. - ANSWER -12
Which of these circumstances REQUIRE an insurer to clearly specify questions designed to obtain
information solely for marketing research? - ANSWER -any insurance transaction
Essential Benefits without annual and lifetime limits are required on any health policy purchased: -
ANSWER -through the Federal Marketplace
What is one of the duties of the Commissioner of Insurance? - ANSWER -administering insurance
laws
Which of these actions is NOT considered an act of rebating? - ANSWER -sharing commissions with
other licensed an appointed agents
If a Health Policy applicant is being investigated into his/her personal character and mode of living,
the applicant MUST be notified of this investigation. Which of the following makes this a
requirement? - ANSWER -Insurance Information and Privacy Protection Act
According to the Affordable Care Act (ACA), which of the following coverages is NOT required? -
ANSWER -coverage for cosmetic surgery
An insurance applicant was recently denied insurance coverage. The applicant is requesting access
from the insurer to recorded personal information regarding this decision. Under the Information
and right answers | Latest version
2024/2025
When an existing life insurance policy is terminated so that a new life insurance policy can be
purchased, this transaction is referred to as: - ANSWER -replacement
Who negotiates viatical settlements between a policyowner and a viatical settlement provider? -
ANSWER -viatical settlement broker
What type of insurance company is domiciled in England, but conducts business in North Carolina? -
ANSWER -foreign
Chemical dependency treatment under a Group Health policy MUST include (over the life of the
contract) a minimum benefit of: - ANSWER -$16,000
North Carolina requires that an insurance agent must complete ____ hours of continuing education
on the subject of law and ethics every two years. - ANSWER -3
If a life insurance company becomes insolvent, the fund that guarantees policyowners payment of
death benefits is known as the: - ANSWER -Life and Health Insurance Guaranty Association
Under the Affordable Care Act (ACA), health coverage is provided for dependents up to the age of: -
ANSWER -26
A group health policy's approved premium rate is guaranteed by the insurer for an initial period of at
LEAST ____ months. - ANSWER -12
Which of these circumstances REQUIRE an insurer to clearly specify questions designed to obtain
information solely for marketing research? - ANSWER -any insurance transaction
Essential Benefits without annual and lifetime limits are required on any health policy purchased: -
ANSWER -through the Federal Marketplace
What is one of the duties of the Commissioner of Insurance? - ANSWER -administering insurance
laws
Which of these actions is NOT considered an act of rebating? - ANSWER -sharing commissions with
other licensed an appointed agents
If a Health Policy applicant is being investigated into his/her personal character and mode of living,
the applicant MUST be notified of this investigation. Which of the following makes this a
requirement? - ANSWER -Insurance Information and Privacy Protection Act
According to the Affordable Care Act (ACA), which of the following coverages is NOT required? -
ANSWER -coverage for cosmetic surgery
An insurance applicant was recently denied insurance coverage. The applicant is requesting access
from the insurer to recorded personal information regarding this decision. Under the Information
