Xcel Testing Solutions- Life and Health Insurance- Weighted Exam
Questions with 100% Correct Answers Latest Graded A+
Question:
The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT
Answer:
insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call
Registry
Question:
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
Answer:
cancelable
Question:
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)
Answer:
Guaranteed insurability rider
Question:
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
Answer:
Noncancellable
Question:
,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?
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.
Question:
What happens if the insurer discovers that the insured's age was accidentally misstated on an
application for an individual life insurance policy?
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.
Question:
Health insurance will typically cover which of the following perils?
Answer:
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
Question:
A viatical settlement contract is an agreement between
Answer:
A life insurance policyowner and a viatical settlement provider
Question:
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?
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
Question:
Which of these techniques will remove the risk of losing money in the stock market by never
purchasing stocks?
Answer:
Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in
stocks.
Question:
Which of the following nursing home options would BEST suit an individual who needs some
nursing care and supervision but NOT full-time care?
Answer:
Assisted living facilities
Question:
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
Answer:
an appointment
Question:
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?
Answer:
Loss of a leg or arm
Question:
, The loss of ONE arm or a leg is NOT considered a presumptive disability. A producer's license in
Louisiana must be renewed every
Answer:
Two years
Producer licenses are issued for periods of 2 years.
Question:
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing
home options would best serve him?
Answer:
Assisted living
Question:
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care. The open enrollment period for Medicare Supplements begins at
age
Answer:
65
Open enrollment for Medicare Supplements begins at the age the individual becomes eligible for
Medicare, which is typically age 65.
Question:
Mark continues working after the age of 65 and is covered through his employer's group health
plan. Which of the following statements is TRUE?
Answer:
Medicare is the secondary payer
If an individual continues to work after the age of 65 and keeps the group plan, primary coverage
comes from the group insurance plan and Medicare is considered the secondary payer.
Question:
A whole life policy option where extended term insurance is selected is called a(n)
Answer:
nonforfeiture option
Questions with 100% Correct Answers Latest Graded A+
Question:
The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT
Answer:
insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call
Registry
Question:
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
Answer:
cancelable
Question:
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)
Answer:
Guaranteed insurability rider
Question:
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
Answer:
Noncancellable
Question:
,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?
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.
Question:
What happens if the insurer discovers that the insured's age was accidentally misstated on an
application for an individual life insurance policy?
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.
Question:
Health insurance will typically cover which of the following perils?
Answer:
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
Question:
A viatical settlement contract is an agreement between
Answer:
A life insurance policyowner and a viatical settlement provider
Question:
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?
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
Question:
Which of these techniques will remove the risk of losing money in the stock market by never
purchasing stocks?
Answer:
Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in
stocks.
Question:
Which of the following nursing home options would BEST suit an individual who needs some
nursing care and supervision but NOT full-time care?
Answer:
Assisted living facilities
Question:
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
Answer:
an appointment
Question:
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?
Answer:
Loss of a leg or arm
Question:
, The loss of ONE arm or a leg is NOT considered a presumptive disability. A producer's license in
Louisiana must be renewed every
Answer:
Two years
Producer licenses are issued for periods of 2 years.
Question:
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing
home options would best serve him?
Answer:
Assisted living
Question:
An assisted living facility would best suit an individual who needs some nursing care and
supervision but not full-time care. The open enrollment period for Medicare Supplements begins at
age
Answer:
65
Open enrollment for Medicare Supplements begins at the age the individual becomes eligible for
Medicare, which is typically age 65.
Question:
Mark continues working after the age of 65 and is covered through his employer's group health
plan. Which of the following statements is TRUE?
Answer:
Medicare is the secondary payer
If an individual continues to work after the age of 65 and keeps the group plan, primary coverage
comes from the group insurance plan and Medicare is considered the secondary payer.
Question:
A whole life policy option where extended term insurance is selected is called a(n)
Answer:
nonforfeiture option
