Xcel Final Exam Oklahoma Life and Health Comprehensive
Questions with Answers 100% Accuracy
How long does one premium payment cover in a premium whole life policy - Correct
AnswersFull life of the policy
The owner of a single premium deferred annuity (SPDA) - Correct AnswersMakes only one
premium payment
Scott has a life insurance policy in which the dividends are left with the insurance company.
This particular policy may be paid up when the cash value plus accumulated dividends -
Correct Answersequal the net single premium for the same face amount at the insured's
attained age
Which statement concerning the Entire Contract provision in an individual accident and
health insurance policy is true - Correct AnswersThe agent doesn't have the authority to
change the policy or waive its provisions
Who normally pays the premiums for group credit life insurance? - Correct
Answersborrower
Upon reaching age___, Medicare supplement coverage is offered on a guaranteed-issued
basis during the open enrollment period - Correct Answers65
Which of these is NOT a true statement of the war exclusion? - Correct AnswersCivil
insurrections apply
A license is NOT required when you are - Correct Answersproviding referrals
, An insurance producer is BEST defined as - Correct Answersa person who has a contract
with an insurance company to represent it
Which of the following actions by a producer would NOT result in a license suspension or
revocation - Correct AnswersProducing an inadequate amount of new premium
A small employer in Oklahoma may NOT consist of more than___ eligible employees -
Correct Answers50
Which of the following is NOT true of participants in multiple-employer trusts - Correct
AnswersParticipants must purchase all coverages the trust offers
Periodic health claim payments MUST be made at least - Correct AnswersMonthly
What happens to death benefit of a life insurance policy if the insured elects a partial
payment from the accelerated (living) benefit provision? - Correct AnswersReduced
The standard provision of an accident and health insurance policy require that the - Correct
AnswersPolicy, endorsement, and attached papers constitute the "entire contract"
Dan has a major medical expense policy with a $200 deductible and an 80/20 coinsurance
provision. He incurs covered medical expenses of $100 in November and $400 in January.
Under the carryover provision, what will the insurer pay? - Correct Answers$240
The promise of a discount in premium as an inducement to purchase insurance is known
as - Correct AnswersRebating
A characteristic of preferred provider organizations (PPO) is - Correct AnswersIf service is
obtained outside the PPO, benefits are reduced and costs increase
Which of these is a valid reason for an insurer's cancellation of a Medicare supplement
policy - Correct AnswersNon-payment of premium
When does the producer give a premium receipt for a life insurance application? - Correct
AnswersWhen the initial premium has been paid with the application
Questions with Answers 100% Accuracy
How long does one premium payment cover in a premium whole life policy - Correct
AnswersFull life of the policy
The owner of a single premium deferred annuity (SPDA) - Correct AnswersMakes only one
premium payment
Scott has a life insurance policy in which the dividends are left with the insurance company.
This particular policy may be paid up when the cash value plus accumulated dividends -
Correct Answersequal the net single premium for the same face amount at the insured's
attained age
Which statement concerning the Entire Contract provision in an individual accident and
health insurance policy is true - Correct AnswersThe agent doesn't have the authority to
change the policy or waive its provisions
Who normally pays the premiums for group credit life insurance? - Correct
Answersborrower
Upon reaching age___, Medicare supplement coverage is offered on a guaranteed-issued
basis during the open enrollment period - Correct Answers65
Which of these is NOT a true statement of the war exclusion? - Correct AnswersCivil
insurrections apply
A license is NOT required when you are - Correct Answersproviding referrals
, An insurance producer is BEST defined as - Correct Answersa person who has a contract
with an insurance company to represent it
Which of the following actions by a producer would NOT result in a license suspension or
revocation - Correct AnswersProducing an inadequate amount of new premium
A small employer in Oklahoma may NOT consist of more than___ eligible employees -
Correct Answers50
Which of the following is NOT true of participants in multiple-employer trusts - Correct
AnswersParticipants must purchase all coverages the trust offers
Periodic health claim payments MUST be made at least - Correct AnswersMonthly
What happens to death benefit of a life insurance policy if the insured elects a partial
payment from the accelerated (living) benefit provision? - Correct AnswersReduced
The standard provision of an accident and health insurance policy require that the - Correct
AnswersPolicy, endorsement, and attached papers constitute the "entire contract"
Dan has a major medical expense policy with a $200 deductible and an 80/20 coinsurance
provision. He incurs covered medical expenses of $100 in November and $400 in January.
Under the carryover provision, what will the insurer pay? - Correct Answers$240
The promise of a discount in premium as an inducement to purchase insurance is known
as - Correct AnswersRebating
A characteristic of preferred provider organizations (PPO) is - Correct AnswersIf service is
obtained outside the PPO, benefits are reduced and costs increase
Which of these is a valid reason for an insurer's cancellation of a Medicare supplement
policy - Correct AnswersNon-payment of premium
When does the producer give a premium receipt for a life insurance application? - Correct
AnswersWhen the initial premium has been paid with the application
