XCEL SOLUTIONS - FINAL EXAM PREP 2024/2025 with 100%
correct Answers
Question:
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
Question:
When is a Group Health policy required to provide coverage for a newborn child?
Answer:
At the moment of birth
Question:
What is the required renewability status of all Medicare supplement policies?
Answer:
Guaranteed renewable
Question:
Who issues Medicare Supplement policies?
Answer:
insurance companies
Question:
P is the insured on a participating life policy. Which statement is true if P's premiums are waived
due to disability?
Answer:
P will still receive declared dividends
Question:
,What type of policy would offer a 40-year old the quickest accumulation of cash value?
Answer:
20- pay life
Question:
The Nevada Insurance Guaranty Association
Answer:
protects Nevada insurance policy owners in the event an insurance company becomes insolvent
Question:
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:
Answer:
the cost
Question:
A Medicare Supplement policy may be cancelled for which of the following reasons?
Answer:
The premiums has not been paid by the insured
Question:
A noncontributory group term life plan is characterized by:
Answer:
The entire cost of the plan is paid for by the employer
Question:
Variable annuities may invest premiums in each of the following, EXCEPT:
Answer:
Insurer's corporate business account
Question:
Which of the following costs would a Basic Hospital/Surgical policy likely cover?
, Answer:
Surgically removing a facial birthmark
Question:
Information obtained from a phone conversation to the proposed insured can be found in which of
these reports?
Answer:
Inspection report
Question:
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 taxable?
Answer:
Benefits are taxable to T.
Question:
What kind of insurance policy supplies an income stream over a set period of time that starts when
the insured dies?
Answer:
Family Maintenance Policy
Question:
Basic Medical Expense insurance:
Answer:
has lower benefit limits than Major Medical Insurance
Question:
What is the requirement for maintaining an individual Nevada producer license?
Answer:
completing 30 hours of continuing education every 3 years
Question:
correct Answers
Question:
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
Question:
When is a Group Health policy required to provide coverage for a newborn child?
Answer:
At the moment of birth
Question:
What is the required renewability status of all Medicare supplement policies?
Answer:
Guaranteed renewable
Question:
Who issues Medicare Supplement policies?
Answer:
insurance companies
Question:
P is the insured on a participating life policy. Which statement is true if P's premiums are waived
due to disability?
Answer:
P will still receive declared dividends
Question:
,What type of policy would offer a 40-year old the quickest accumulation of cash value?
Answer:
20- pay life
Question:
The Nevada Insurance Guaranty Association
Answer:
protects Nevada insurance policy owners in the event an insurance company becomes insolvent
Question:
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:
Answer:
the cost
Question:
A Medicare Supplement policy may be cancelled for which of the following reasons?
Answer:
The premiums has not been paid by the insured
Question:
A noncontributory group term life plan is characterized by:
Answer:
The entire cost of the plan is paid for by the employer
Question:
Variable annuities may invest premiums in each of the following, EXCEPT:
Answer:
Insurer's corporate business account
Question:
Which of the following costs would a Basic Hospital/Surgical policy likely cover?
, Answer:
Surgically removing a facial birthmark
Question:
Information obtained from a phone conversation to the proposed insured can be found in which of
these reports?
Answer:
Inspection report
Question:
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 taxable?
Answer:
Benefits are taxable to T.
Question:
What kind of insurance policy supplies an income stream over a set period of time that starts when
the insured dies?
Answer:
Family Maintenance Policy
Question:
Basic Medical Expense insurance:
Answer:
has lower benefit limits than Major Medical Insurance
Question:
What is the requirement for maintaining an individual Nevada producer license?
Answer:
completing 30 hours of continuing education every 3 years
Question:
