XCEL SOLUTIONS LIFE AND HEALTH
INSURANCE FINAL EXAM QUESTIONS AND
ANSWERS
1. 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?: Daughter
2. When is a Group Health policy required to provide coverage for a
newborn child?: At the moment of birth
3. What is the required renewability status of all Medicare supplement
policies?-
: Guaranteed renewable
4. Who issues Medicare Supplement policies?: insurance companies
5. P is the insured on a participating life policy. Which statement is
true if P's premiums are waived due to disability?: P will still receive
declared dividends
6. What type of policy would offer a 40-year old the quickest
,accumulation of cash value?: 20-pay life
7. The Nevada Insurance Guaranty Association: protects Nevada insurance policy
owners in the event an insurance company becomes insolvent
8. The most important factor to consider when determining whether
to convert term insurance at the insured's attained age or to the
insured's original age is:: the cost
9. A Medicare Supplement policy may be cancelled for which of the
following reasons?: The premiums has not been paid by the insured
10. A noncontributory group term life plan is characterized by:: The
entire cost of the plan is paid for by the employer
11. Variable annuities may invest premiums in each of the following,
EXCEPT:: -
Insurer's corporate business account
12. Which of the following costs would a Basic Hospital/Surgical
policy likely cover?: Surgically removing a facial birthmark
13. Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?: Inspection
report
, 14. T is receiving $3,000/month from a Disability Income policy
in which T's employer has pad the premiums. How are the $3,000
benefit payments tax-able?: Benefits are taxable to T.
15. What kind of insurance policy supplies an income stream
over a set period of time that starts when the insured dies?: Family
Maintenance Policy
16. Basic Medical Expense insurance:: has lower benefit limits than Major Medical
Insurance
17. What is the requirement for maintaining an individual
Nevada producer license?: completing 30 hours of continuing education every 3
years
18. J is a producer who has induced an insured through
misrepresentation to surrender an existing insurance policy. What
is J guilty of?: Twisting
19. Which of these is considered a mandatory provision?: payment of
claims
20. Which life insurance rider typically appears on a Juvenile life
INSURANCE FINAL EXAM QUESTIONS AND
ANSWERS
1. 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?: Daughter
2. When is a Group Health policy required to provide coverage for a
newborn child?: At the moment of birth
3. What is the required renewability status of all Medicare supplement
policies?-
: Guaranteed renewable
4. Who issues Medicare Supplement policies?: insurance companies
5. P is the insured on a participating life policy. Which statement is
true if P's premiums are waived due to disability?: P will still receive
declared dividends
6. What type of policy would offer a 40-year old the quickest
,accumulation of cash value?: 20-pay life
7. The Nevada Insurance Guaranty Association: protects Nevada insurance policy
owners in the event an insurance company becomes insolvent
8. The most important factor to consider when determining whether
to convert term insurance at the insured's attained age or to the
insured's original age is:: the cost
9. A Medicare Supplement policy may be cancelled for which of the
following reasons?: The premiums has not been paid by the insured
10. A noncontributory group term life plan is characterized by:: The
entire cost of the plan is paid for by the employer
11. Variable annuities may invest premiums in each of the following,
EXCEPT:: -
Insurer's corporate business account
12. Which of the following costs would a Basic Hospital/Surgical
policy likely cover?: Surgically removing a facial birthmark
13. Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?: Inspection
report
, 14. T is receiving $3,000/month from a Disability Income policy
in which T's employer has pad the premiums. How are the $3,000
benefit payments tax-able?: Benefits are taxable to T.
15. What kind of insurance policy supplies an income stream
over a set period of time that starts when the insured dies?: Family
Maintenance Policy
16. Basic Medical Expense insurance:: has lower benefit limits than Major Medical
Insurance
17. What is the requirement for maintaining an individual
Nevada producer license?: completing 30 hours of continuing education every 3
years
18. J is a producer who has induced an insured through
misrepresentation to surrender an existing insurance policy. What
is J guilty of?: Twisting
19. Which of these is considered a mandatory provision?: payment of
claims
20. Which life insurance rider typically appears on a Juvenile life
