XCEL TESTING SOLUTIONS- LIFE
AND HEALTH INSURANCE-
WEIGHTED EXAM- 150 QUESTIONS &
VERIFIED ANSWERS PASSED 100%
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - CORRECT ANSWER insurance 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 ANSWER cancelable
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 ANSWER Guaranteed 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 ANSWER Noncancellable
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 ANSWER
Declarations
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 ANSWER
Benefits 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
ANSWER Injury due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - CORRECT ANSWER A 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 ANSWER The 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 ANSWER Risk 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 ANSWER
Assisted 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 ANSWER an 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
ANSWER Loss 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 ANSWER Two
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 ANSWER Assisted 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
ANSWER 65
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 ANSWER
Medicare 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 ANSWER nonforfeiture option
A nonforfeiture provision in a whole life policy that uses cash value to purchase term
insurance equal to the existing amount of life insurance is called the extended term
option.
The Commissioner must examine the financial affairs of each admitted insurer operating
in Louisiana at least once every how many years? - CORRECT ANSWER 5
At the very least, an admitted company shall be examined once every 5 years by the
Commissioner.
When a Medicare supplement policy is purchased during the open enrollment period -
CORRECT ANSWER the policy must be issued regardless of health status
During open enrollment for Medicare supplements, policies will be issued regardless of
health status.
Which of the following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit? - CORRECT ANSWER
Increase the premiums on an individual basis
A guaranteed renewable policy CANNOT increase the premiums on an individual basis,
only on the basis of an entire classification.
A nonresident of Louisiana who has satisfied the licensing requirements for a line of
insurance in the licensee's state and who wishes to sell that line of insurance in
Louisiana, must meet all of the following requirements EXCEPT: - CORRECT
ANSWER Take the appropriate Louisiana licensing examination
A nonresident licensee from another state is not required to take a licensing
examination if they are already in good standing with their state of residence.
A life insurance policy that has premiums fully paid up within a stated time period is
called - CORRECT ANSWER limited payment insurance
Limited payment insurance is characterized by premiums that are fully paid up within a
stated period, after which no further premiums are required.
AND HEALTH INSURANCE-
WEIGHTED EXAM- 150 QUESTIONS &
VERIFIED ANSWERS PASSED 100%
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT - CORRECT ANSWER insurance 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 ANSWER cancelable
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 ANSWER Guaranteed 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 ANSWER Noncancellable
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 ANSWER
Declarations
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 ANSWER
Benefits 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
ANSWER Injury due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between - CORRECT ANSWER A 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 ANSWER The 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 ANSWER Risk 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 ANSWER
Assisted 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 ANSWER an 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
ANSWER Loss 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 ANSWER Two
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 ANSWER Assisted 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
ANSWER 65
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 ANSWER
Medicare 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 ANSWER nonforfeiture option
A nonforfeiture provision in a whole life policy that uses cash value to purchase term
insurance equal to the existing amount of life insurance is called the extended term
option.
The Commissioner must examine the financial affairs of each admitted insurer operating
in Louisiana at least once every how many years? - CORRECT ANSWER 5
At the very least, an admitted company shall be examined once every 5 years by the
Commissioner.
When a Medicare supplement policy is purchased during the open enrollment period -
CORRECT ANSWER the policy must be issued regardless of health status
During open enrollment for Medicare supplements, policies will be issued regardless of
health status.
Which of the following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit? - CORRECT ANSWER
Increase the premiums on an individual basis
A guaranteed renewable policy CANNOT increase the premiums on an individual basis,
only on the basis of an entire classification.
A nonresident of Louisiana who has satisfied the licensing requirements for a line of
insurance in the licensee's state and who wishes to sell that line of insurance in
Louisiana, must meet all of the following requirements EXCEPT: - CORRECT
ANSWER Take the appropriate Louisiana licensing examination
A nonresident licensee from another state is not required to take a licensing
examination if they are already in good standing with their state of residence.
A life insurance policy that has premiums fully paid up within a stated time period is
called - CORRECT ANSWER limited payment insurance
Limited payment insurance is characterized by premiums that are fully paid up within a
stated period, after which no further premiums are required.
