Xcel Testing Solutions- Life and Health
Insurance- Weighted Exam- 150 Questions With
Correct Answers
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.
| | | | | | | |
Insurance- Weighted Exam- 150 Questions With
Correct Answers
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.
| | | | | | | |
