Xcel Insurance Licensing Exam Actual Exam | Questions And Correct
Answers | Already Graded A+ | Verified Answers | Latest Version
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age - (CORRECT ANSWER)A deceased worker's dependent parents of any
age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect insurance companies from? -
(CORRECT ANSWER)adverse selection
The open enrollment period for Medicare Part B is... - (CORRECT ANSWER)January 1 through March 31
The period in which there are no social security benefits for the surviving spouse is called - (CORRECT
ANSWER)Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches age 60 at the earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration - (CORRECT ANSWER)Countersignature
1
,Major medical expense plans typically use a cost containment measure for emergency hospital care.
This is referred to as a(n)
- Limitation
- Exclusion
- Capitation
- Deductible - (CORRECT ANSWER)Deductible
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived - (CORRECT ANSWER)The Policy's effective date is earlier than
the present
which of the following does restorative dental treamtent cover?
- crowns
- cleanings
- xrays
- dentures - (CORRECT ANSWER)crowns
Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
2
,- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received - (CORRECT ANSWER)Based on the date an
individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value - (CORRECT ANSWER)Specified amount of money
Which type of life insurance offers flexible premiums, a flexible death benefit, and the choice of how the
cash value will be invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy - (CORRECT ANSWER)Variable universal policy
Which of these premium payment frequencies is not typically available to a policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly - (CORRECT ANSWER)Bi-weekly
3
, According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year - (CORRECT ANSWER)participation or
contribution rules have been violated
The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population - (CORRECT ANSWER)Protect certain vulnerable
segments of the population
Failure to report background changes with 30 days as required under section 1729.2 of the California
insurance code could subject a license or applicant to
- Suspension
- Denial
- Fine
- All of these - (CORRECT ANSWER)all of these
According to PPACA, what is a health benefits exchange?
4
Answers | Already Graded A+ | Verified Answers | Latest Version
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age - (CORRECT ANSWER)A deceased worker's dependent parents of any
age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect insurance companies from? -
(CORRECT ANSWER)adverse selection
The open enrollment period for Medicare Part B is... - (CORRECT ANSWER)January 1 through March 31
The period in which there are no social security benefits for the surviving spouse is called - (CORRECT
ANSWER)Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches age 60 at the earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration - (CORRECT ANSWER)Countersignature
1
,Major medical expense plans typically use a cost containment measure for emergency hospital care.
This is referred to as a(n)
- Limitation
- Exclusion
- Capitation
- Deductible - (CORRECT ANSWER)Deductible
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived - (CORRECT ANSWER)The Policy's effective date is earlier than
the present
which of the following does restorative dental treamtent cover?
- crowns
- cleanings
- xrays
- dentures - (CORRECT ANSWER)crowns
Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
2
,- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received - (CORRECT ANSWER)Based on the date an
individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value - (CORRECT ANSWER)Specified amount of money
Which type of life insurance offers flexible premiums, a flexible death benefit, and the choice of how the
cash value will be invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy - (CORRECT ANSWER)Variable universal policy
Which of these premium payment frequencies is not typically available to a policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly - (CORRECT ANSWER)Bi-weekly
3
, According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year - (CORRECT ANSWER)participation or
contribution rules have been violated
The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population - (CORRECT ANSWER)Protect certain vulnerable
segments of the population
Failure to report background changes with 30 days as required under section 1729.2 of the California
insurance code could subject a license or applicant to
- Suspension
- Denial
- Fine
- All of these - (CORRECT ANSWER)all of these
According to PPACA, what is a health benefits exchange?
4
