XCEL Life and Health Insurance Test Review
Questions & Answers
1.Which annuity payout option allows the policy owner to choose a pre-
deter- mined number of benefit payments?
Answer Period Certain
2.Which annuity payout option has no additional payouts regardless of
when the annuitant dies
Answer Life only annuity
3.a professional liability for which producers can be sued for mistakes
of putting a policy into effect
Answer Errors and Omissions
4.requires the beneficiary's signature for any change to the beneficiary
Answer irrev- ocable beneficiary
5.statements made by an insurance applicant on an application
Answer representa- tions
6.life insurance policies guarantee the beneficiary what upon the death of
the insured
Answer a specified amount of money
,7.common exclusion on a dental policy
Answer Endodontics
8.Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home?
Answer Home health care
9.According to the Affordable Care Act, any plan in existence prior to
which date is considered a grandfathered plan?
Answer March 23, 2010
10.Which of the following is NOT a type of Medicare Advantage Plan?
Answer Social Security Disability Income (SSDI)
11.Coordination of Benefits regulation applies to all of the following
plans EXCEPT
Answer Preferred Provider Organization plan (PPO)
12.Both long-term care insurance and Medicare Supplement policies may
be returned by the insured for a full refund within
Answer 30 days
13.Which type of coverage pays an amount per day for hospitalization
directly to the insured regardless of the insured's other health insurance?
,Answer Hospital Indemnity
14.Low frequency diseases can be exclusively covered by what kind of
health insurance policies?
Answer Limited Policies
15.What type of injury would NOT be covered under a health
insurance policy?
Answer Work-related
16.Without a Section 125 Plan in place, what would happen to an
employee's payroll contribution to an HSA?
Answer It would be considered taxable income to the employee
17.A single premium cash value policy can be described as
Answer a policy that is paid up after only one payment
18.How does one become eligible for Part D Prescription Drug coverage?
Answer -
Must have Medicare coverage
19.An example of endodontic treatment is a
Answer root canal
20.Under US Code 1033, crimes by or affecting persons engaged in the
, business of insurance which affect interstate commerce are prosecuted
by the
Answer US Attorney General
21.What would be an expense factor in an insurance program?
Answer Mortality costs
22.Which of the following signatures is not required on an individual
insur- ance application?
Answer Insurer
23.All of the following are defined as supplemental health insuring
corpora- tion (HIC) services EXCEPT
Answer outpatient medical services
24."Maximum benefits" refers to the
Answer upper limit of the total lifetime benefits the insurance company
will pay
25.Signatures for an insurance application MUST be obtained by the
producer from all of the following sources EXCEPT
Answer the beneficiary
26. What happens to the coverage under a children's term rider when
Questions & Answers
1.Which annuity payout option allows the policy owner to choose a pre-
deter- mined number of benefit payments?
Answer Period Certain
2.Which annuity payout option has no additional payouts regardless of
when the annuitant dies
Answer Life only annuity
3.a professional liability for which producers can be sued for mistakes
of putting a policy into effect
Answer Errors and Omissions
4.requires the beneficiary's signature for any change to the beneficiary
Answer irrev- ocable beneficiary
5.statements made by an insurance applicant on an application
Answer representa- tions
6.life insurance policies guarantee the beneficiary what upon the death of
the insured
Answer a specified amount of money
,7.common exclusion on a dental policy
Answer Endodontics
8.Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home?
Answer Home health care
9.According to the Affordable Care Act, any plan in existence prior to
which date is considered a grandfathered plan?
Answer March 23, 2010
10.Which of the following is NOT a type of Medicare Advantage Plan?
Answer Social Security Disability Income (SSDI)
11.Coordination of Benefits regulation applies to all of the following
plans EXCEPT
Answer Preferred Provider Organization plan (PPO)
12.Both long-term care insurance and Medicare Supplement policies may
be returned by the insured for a full refund within
Answer 30 days
13.Which type of coverage pays an amount per day for hospitalization
directly to the insured regardless of the insured's other health insurance?
,Answer Hospital Indemnity
14.Low frequency diseases can be exclusively covered by what kind of
health insurance policies?
Answer Limited Policies
15.What type of injury would NOT be covered under a health
insurance policy?
Answer Work-related
16.Without a Section 125 Plan in place, what would happen to an
employee's payroll contribution to an HSA?
Answer It would be considered taxable income to the employee
17.A single premium cash value policy can be described as
Answer a policy that is paid up after only one payment
18.How does one become eligible for Part D Prescription Drug coverage?
Answer -
Must have Medicare coverage
19.An example of endodontic treatment is a
Answer root canal
20.Under US Code 1033, crimes by or affecting persons engaged in the
, business of insurance which affect interstate commerce are prosecuted
by the
Answer US Attorney General
21.What would be an expense factor in an insurance program?
Answer Mortality costs
22.Which of the following signatures is not required on an individual
insur- ance application?
Answer Insurer
23.All of the following are defined as supplemental health insuring
corpora- tion (HIC) services EXCEPT
Answer outpatient medical services
24."Maximum benefits" refers to the
Answer upper limit of the total lifetime benefits the insurance company
will pay
25.Signatures for an insurance application MUST be obtained by the
producer from all of the following sources EXCEPT
Answer the beneficiary
26. What happens to the coverage under a children's term rider when
