XCEL LIFE INSURANCE EXAM
QUESTIONS & ACCURATE
COMPLETE SOLUTIONS
Replacement regulation is designed to protect - CORRECT ANSWER Policyowners
from misrepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - CORRECT
ANSWER Preventative health services
Which of these will have the highest monthly payout upon annuitization - CORRECT
ANSWER Straight life
Which of the following is included in the entire contract according ti the entire contract
provision? - CORRECT ANSWER Clauses
Which of the following is considered to be an alternative to a life settlement? -
CORRECT ANSWER Accelerate death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT
ANSWER Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
CORRECT ANSWER Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - CORRECT ANSWER Human life value
approach
Which of the following policies does NOT build cash value? - CORRECT ANSWER
Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - CORRECT ANSWER Human life
value
The free look period provided in a life insurance policy is usually - CORRECT
ANSWER 10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER Small Business
Health Options Program
, An employer is issued a group medical insurance policy. This single contract is known
as a(n) - CORRECT ANSWER master policy
Which of the following is NOT covered under Workers' Compensation? - CORRECT
ANSWER Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT ANSWER
Private insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER association which
maintains a facility that displays offers and counteroffers for purchasers or sellers of life
settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - CORRECT ANSWER Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - CORRECT ANSWER Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - CORRECT ANSWER avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - CORRECT ANSWER collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
CORRECT ANSWER 10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - CORRECT ANSWER twisting
Which type of annuity stops all payments upon the death of the annuitant? - CORRECT
ANSWER Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER provide
coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - CORRECT ANSWER Specified amount of money
Major medical insurance will typically cover medical expenses that result from -
CORRECT ANSWER a negative reaction to prescribed medication
QUESTIONS & ACCURATE
COMPLETE SOLUTIONS
Replacement regulation is designed to protect - CORRECT ANSWER Policyowners
from misrepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - CORRECT
ANSWER Preventative health services
Which of these will have the highest monthly payout upon annuitization - CORRECT
ANSWER Straight life
Which of the following is included in the entire contract according ti the entire contract
provision? - CORRECT ANSWER Clauses
Which of the following is considered to be an alternative to a life settlement? -
CORRECT ANSWER Accelerate death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT
ANSWER Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
CORRECT ANSWER Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - CORRECT ANSWER Human life value
approach
Which of the following policies does NOT build cash value? - CORRECT ANSWER
Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - CORRECT ANSWER Human life
value
The free look period provided in a life insurance policy is usually - CORRECT
ANSWER 10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER Small Business
Health Options Program
, An employer is issued a group medical insurance policy. This single contract is known
as a(n) - CORRECT ANSWER master policy
Which of the following is NOT covered under Workers' Compensation? - CORRECT
ANSWER Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT ANSWER
Private insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER association which
maintains a facility that displays offers and counteroffers for purchasers or sellers of life
settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - CORRECT ANSWER Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - CORRECT ANSWER Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - CORRECT ANSWER avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - CORRECT ANSWER collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
CORRECT ANSWER 10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - CORRECT ANSWER twisting
Which type of annuity stops all payments upon the death of the annuitant? - CORRECT
ANSWER Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER provide
coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - CORRECT ANSWER Specified amount of money
Major medical insurance will typically cover medical expenses that result from -
CORRECT ANSWER a negative reaction to prescribed medication
