XCEL SOLUTIONS - FINAL EXAM
Questions & Answers
1.K has a life insurance policy where her husband is beneficiary and her
daughter is contingent beneficiary. Under the Common Disaster clause, if K
and her husband are both killed in an automobile accident, where would
the death proceeds be directed?
Answer Daughter
2.When is a Group Health policy required to provide coverage for a
newborn child?
Answer At the moment of birth
3.What is the required renewability status of all Medicare supplement
poli- cies?
Answer Guaranteed renewable
4.Who issues Medicare Supplement policies?
Answer insurance companies
5.P is the insured on a participating life policy. Which statement is true if
P's premiums are waived due to disability?
Answer P will still receive declared dividends
,6.What type of policy would offer a 40-year old the quickest accumulation
of cash value?
Answer 20-pay life
7.The Nevada Insurance Guaranty Association
Answer protects Nevada insurance pol- icy owners in the event an
insurance company becomes insolvent
8.The most important factor to consider when determining whether to
convert term insurance at the insured's attained age or to the insured's
original age is
Answer the cost
9.A Medicare Supplement policy may be cancelled for which of the
following reasons?
Answer The premiums has not been paid by the insured
10.A noncontributory group term life plan is characterized by
Answer The entire cost of the plan is paid for by the employer
11.Variable annuities may invest premiums in each of the following, EXCEPT
Answer-
Insurer's corporate business account
, 12.Which of the following costs would a Basic Hospital/Surgical policy
likely cover?
Answer Surgically removing a facial birthmark
13.Information obtained from a phone conversation to the proposed
insured can be found in which of these reports?
Answer Inspection report
14.T is receiving $3,000/month from a Disability Income policy in which
T's employer has pad the premiums. How are the $3,000 benefit payments
tax- able?
Answer Benefits are taxable to T.
15.What kind of insurance policy supplies an income stream over a set
period of time that starts when the insured dies?
Answer Family Maintenance Policy
16.Basic Medical Expense insurance
Answer has lower benefit limits than Major Med- ical Insurance
17.What is the requirement for maintaining an individual Nevada
producer license?
Answer completing 30 hours of continuing education every 3 years
18.J is a producer who has induced an insured through misrepresentation
Questions & Answers
1.K has a life insurance policy where her husband is beneficiary and her
daughter is contingent beneficiary. Under the Common Disaster clause, if K
and her husband are both killed in an automobile accident, where would
the death proceeds be directed?
Answer Daughter
2.When is a Group Health policy required to provide coverage for a
newborn child?
Answer At the moment of birth
3.What is the required renewability status of all Medicare supplement
poli- cies?
Answer Guaranteed renewable
4.Who issues Medicare Supplement policies?
Answer insurance companies
5.P is the insured on a participating life policy. Which statement is true if
P's premiums are waived due to disability?
Answer P will still receive declared dividends
,6.What type of policy would offer a 40-year old the quickest accumulation
of cash value?
Answer 20-pay life
7.The Nevada Insurance Guaranty Association
Answer protects Nevada insurance pol- icy owners in the event an
insurance company becomes insolvent
8.The most important factor to consider when determining whether to
convert term insurance at the insured's attained age or to the insured's
original age is
Answer the cost
9.A Medicare Supplement policy may be cancelled for which of the
following reasons?
Answer The premiums has not been paid by the insured
10.A noncontributory group term life plan is characterized by
Answer The entire cost of the plan is paid for by the employer
11.Variable annuities may invest premiums in each of the following, EXCEPT
Answer-
Insurer's corporate business account
, 12.Which of the following costs would a Basic Hospital/Surgical policy
likely cover?
Answer Surgically removing a facial birthmark
13.Information obtained from a phone conversation to the proposed
insured can be found in which of these reports?
Answer Inspection report
14.T is receiving $3,000/month from a Disability Income policy in which
T's employer has pad the premiums. How are the $3,000 benefit payments
tax- able?
Answer Benefits are taxable to T.
15.What kind of insurance policy supplies an income stream over a set
period of time that starts when the insured dies?
Answer Family Maintenance Policy
16.Basic Medical Expense insurance
Answer has lower benefit limits than Major Med- ical Insurance
17.What is the requirement for maintaining an individual Nevada
producer license?
Answer completing 30 hours of continuing education every 3 years
18.J is a producer who has induced an insured through misrepresentation
