Xcel Testing Solutions- Life and Health Insurance- Weighted
Exam- 150 Questions with Answers
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - Correct Answersinsurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not
Call Registry
The type of policy where the insurer can send a notice to the insured that the policy has
been cancelled in the middle of the term is called - Correct Answerscancelable
The renewability provision in a cancelable policy allows the insurer to cancel or terminate
the policy at any time, simply by providing written notification to the insured and refunding
any advance premium that has been paid.
Barbara's policy includes a rider which allows her to purchase additional insurance at
specific dates or events without evidence of insurability. This rider is called a(n) - Correct
AnswersGuaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insurance at
specific dates or events without evidence of insurability.
Disability Income plans which require that the insurer can NEVER change or alter premium
rates are usually considered - Correct AnswersNoncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be increased under
any circumstances.
In what part of an insurance policy are policy benefits found? - Correct
AnswersDeclarations
Essentially, the insurance declaration page is like a quick guide to the insurance policy,
providing all of the basic information the policyholder needs to know.
,What happens if the insurer discovers that the insured's age was accidentally misstated on
an application for an individual life insurance policy? - Correct AnswersBenefits will be
calculated according to how much coverage the premium paid would have purchased for
the correct age
Benefits will be calculated according to how much coverage the premium paid would have
purchased for the correct age.
Health insurance will typically cover which of the following perils? - Correct AnswersInjury
due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - Correct AnswersA life insurance
policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life insurance policyowner and a
viatical settlement provider.
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - Correct AnswersThe insurer significantly raises co-insurance
charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may lose their
grandfathered status if the insurer significantly raises co-insurance charges, deductibles,
or co-payment charges
Which of these techniques will remove the risk of losing money in the stock market by
never purchasing stocks? - Correct AnswersRisk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never
investing in stocks.
Which of the following nursing home options would BEST suit an individual who needs
some nursing care and supervision but NOT full-time care? - Correct AnswersAssisted
living facilities
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care.
, Under Louisiana law, the agreement between an insurance producer and insurer under
which the insurance producer, for compensation, may sell, solicit, or negotiate policies
issued by the insurer is defined as - Correct Answersan appointment
The agreement between an insurance producer and insurer under which the insurance
producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is
called an appointment.
Which of these would NOT be considered a presumptive disability? - Correct AnswersLoss
of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
A producer's license in Louisiana must be renewed every - Correct AnswersTwo years
Producer licenses are issued for periods of 2 years.
Bill requires some nursing care and supervision but NOT full-time care. Which of these
nursing home options would best serve him? - Correct AnswersAssisted living
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care.
The open enrollment period for Medicare Supplements begins at age - Correct Answers65
Open enrollment for Medicare Supplements begins at the age the individual becomes
eligible for Medicare, which is typically age 65.
Mark continues working after the age of 65 and is covered through his employer's group
health plan. Which of the following statements is TRUE? - Correct AnswersMedicare is the
secondary payer
If an individual continues to work after the age of 65 and keeps the group plan, primary
coverage comes from the group insurance plan and Medicare is considered the secondary
payer.
A whole life policy option where extended term insurance is selected is called a(n) - Correct
Answersnonforfeiture option
Exam- 150 Questions with Answers
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - Correct Answersinsurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not
Call Registry
The type of policy where the insurer can send a notice to the insured that the policy has
been cancelled in the middle of the term is called - Correct Answerscancelable
The renewability provision in a cancelable policy allows the insurer to cancel or terminate
the policy at any time, simply by providing written notification to the insured and refunding
any advance premium that has been paid.
Barbara's policy includes a rider which allows her to purchase additional insurance at
specific dates or events without evidence of insurability. This rider is called a(n) - Correct
AnswersGuaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insurance at
specific dates or events without evidence of insurability.
Disability Income plans which require that the insurer can NEVER change or alter premium
rates are usually considered - Correct AnswersNoncancellable
A noncancellable policy cannot be cancelled nor can its premium rates be increased under
any circumstances.
In what part of an insurance policy are policy benefits found? - Correct
AnswersDeclarations
Essentially, the insurance declaration page is like a quick guide to the insurance policy,
providing all of the basic information the policyholder needs to know.
,What happens if the insurer discovers that the insured's age was accidentally misstated on
an application for an individual life insurance policy? - Correct AnswersBenefits will be
calculated according to how much coverage the premium paid would have purchased for
the correct age
Benefits will be calculated according to how much coverage the premium paid would have
purchased for the correct age.
Health insurance will typically cover which of the following perils? - Correct AnswersInjury
due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - Correct AnswersA life insurance
policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life insurance policyowner and a
viatical settlement provider.
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - Correct AnswersThe insurer significantly raises co-insurance
charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may lose their
grandfathered status if the insurer significantly raises co-insurance charges, deductibles,
or co-payment charges
Which of these techniques will remove the risk of losing money in the stock market by
never purchasing stocks? - Correct AnswersRisk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never
investing in stocks.
Which of the following nursing home options would BEST suit an individual who needs
some nursing care and supervision but NOT full-time care? - Correct AnswersAssisted
living facilities
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care.
, Under Louisiana law, the agreement between an insurance producer and insurer under
which the insurance producer, for compensation, may sell, solicit, or negotiate policies
issued by the insurer is defined as - Correct Answersan appointment
The agreement between an insurance producer and insurer under which the insurance
producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is
called an appointment.
Which of these would NOT be considered a presumptive disability? - Correct AnswersLoss
of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
A producer's license in Louisiana must be renewed every - Correct AnswersTwo years
Producer licenses are issued for periods of 2 years.
Bill requires some nursing care and supervision but NOT full-time care. Which of these
nursing home options would best serve him? - Correct AnswersAssisted living
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care.
The open enrollment period for Medicare Supplements begins at age - Correct Answers65
Open enrollment for Medicare Supplements begins at the age the individual becomes
eligible for Medicare, which is typically age 65.
Mark continues working after the age of 65 and is covered through his employer's group
health plan. Which of the following statements is TRUE? - Correct AnswersMedicare is the
secondary payer
If an individual continues to work after the age of 65 and keeps the group plan, primary
coverage comes from the group insurance plan and Medicare is considered the secondary
payer.
A whole life policy option where extended term insurance is selected is called a(n) - Correct
Answersnonforfeiture option
