Xcel Testing Solutions Life and Health
Insurance Weighted Exam 150 Questions
and Answers
1. The Do Not Call Registry offers exemptions for calls placed from
all of the following EXCEPT: insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry
2. 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: 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.
3. 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): Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates
or events without evidence of insurability.
4. Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered: Noncancellable
,A noncancellable policy cannot be cancelled nor can its premium rates be increased under any
circumstances.
5. In what part of an insurance policy are policy benefits found?:
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.
6. What happens if the insurer discovers that the insured's age was
accidentally misstated on an application for an individual life insurance
policy?: 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.
7. Health insurance will typically cover which of the following perils?:
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
8. A viatical settlement contract is an agreement between: 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.
9. Under the Affordable Care Act, how would a grandfathered health
,plan lose its grandfathered status?: The insurer significantly raises co-insurance charges,
deductibles, or co-pay-
ment 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
10. Which of these techniques will remove the risk of losing
money in the stock market by never purchasing stocks?: Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks.
11. Which of the following nursing home options would BEST suit
an individual who needs some nursing care and supervision but NOT
full-time care?: Assisted living facilities
An assisted living facility would best suit an individual who needs some nursing care and supervision but
not full-time care.
12. 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: 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.
13. Which of these would NOT be considered a presumptive
, disability?: Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
14. A producer's license in Louisiana must be renewed
every: Two years Producer licenses are issued for periods of 2 years.
15. Bill requires some nursing care and supervision but NOT
full-time care. Which of these nursing home options would best
serve him?: Assisted living
An assisted living facility would best suit an individual who needs some nursing care and supervision but
not full-time care.
16. The open enrollment period for Medicare Supplements begins
at age: 65 Open enrollment for Medicare Supplements begins at the age the individual becomes
eligible for Medicare, which is typically age 65.
17. Mark continues working after the age of 65 and is covered
through his em-ployer's group health plan. Which of the following
statements is TRUE?: Medicare is the secondary payer
Insurance Weighted Exam 150 Questions
and Answers
1. The Do Not Call Registry offers exemptions for calls placed from
all of the following EXCEPT: insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry
2. 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: 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.
3. 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): Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates
or events without evidence of insurability.
4. Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered: Noncancellable
,A noncancellable policy cannot be cancelled nor can its premium rates be increased under any
circumstances.
5. In what part of an insurance policy are policy benefits found?:
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.
6. What happens if the insurer discovers that the insured's age was
accidentally misstated on an application for an individual life insurance
policy?: 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.
7. Health insurance will typically cover which of the following perils?:
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
8. A viatical settlement contract is an agreement between: 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.
9. Under the Affordable Care Act, how would a grandfathered health
,plan lose its grandfathered status?: The insurer significantly raises co-insurance charges,
deductibles, or co-pay-
ment 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
10. Which of these techniques will remove the risk of losing
money in the stock market by never purchasing stocks?: Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks.
11. Which of the following nursing home options would BEST suit
an individual who needs some nursing care and supervision but NOT
full-time care?: Assisted living facilities
An assisted living facility would best suit an individual who needs some nursing care and supervision but
not full-time care.
12. 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: 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.
13. Which of these would NOT be considered a presumptive
, disability?: Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
14. A producer's license in Louisiana must be renewed
every: Two years Producer licenses are issued for periods of 2 years.
15. Bill requires some nursing care and supervision but NOT
full-time care. Which of these nursing home options would best
serve him?: Assisted living
An assisted living facility would best suit an individual who needs some nursing care and supervision but
not full-time care.
16. The open enrollment period for Medicare Supplements begins
at age: 65 Open enrollment for Medicare Supplements begins at the age the individual becomes
eligible for Medicare, which is typically age 65.
17. Mark continues working after the age of 65 and is covered
through his em-ployer's group health plan. Which of the following
statements is TRUE?: Medicare is the secondary payer
