XCEL SOLUTIONS EXAMS BUNDLE

An earned premium resulting from the cancellation of a policy is calculated on: - Answer-On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology w...

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - 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 insur...

Typically, Long-Term Disability benefits are coordinated with which benefit plan? - Answer-Social Security The focus of major medical insurance is providing coverage for - Answer-medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20...

Replacement regulation is designed to protect - Answer-Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Answer-Preventative health services Which of these will have the highest monthly payout upon annuitization - Answe...

A partial surrender is allowed in which of the following life policies? - Answer-Universal life All of the following riders can increase the death benefit amount EXCEPT - Answer-Waiver of Premium A health insurance policy where the insurer has the right to terminate the policy fr reasons other...

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 When is a Group Health policy ...

Irrevocable beneficiary - Answer-What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? Anytime - Answer-When can a policy-owner change a revocable beneficiary? Daughter - Answer-K has a life insurance policy where her husband is beneficiary and ...

____________ is NOT an element of a valid contract. - Answer-Taxable income. Disability insurance benefits from a group policy paid for by an employer is considered taxable income. "maximum benefits" refers to the - Answer-upper limit of the total lifetime benefits the insurance company will...

When can a policy owner change a revocable beneficiary? - Answer-Anytime M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? - Answer-Revocable H...

a nonparticipating company is sometimes called a - Answer-stock insurer Fraternal Benefit Society has each other the following characteristics except - Answer-exist for profit The Fair Credit and Reporting Act's main purpose is to - Answer-protect consumers with guidelines regarding credit re...