Xcel Life Insurance Exam Actual Test Questions and Answers with complete solution

Xcel Life Insurance Exam Actual Test Questions and Answers with complete solution Replacement regulation is designed to protect Answers>> Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide Answers>> Preventative health services Which of these will have the highest monthly payout upon annuitization Answers>> Straight life Which of the following is included in the entire contract according ti the entire contract provison? Answers>> Clauses Which of the following is considered to be an alternative to a life settlement? Answers>> Accelered death benefit rider With a scheduled dental policy, how are covered expense paid? Answers>> Benefits are limited to a specific maximum dollar amount per procedure Coordination of benefits regulation applies to all of the following plans EXCEPT Answers>> Preferred provider Organization plan Which approach predicts a person's earning potential and determines how much of that amount would be devoted to dependents? Answers>> Human life value approach Which of the following policies does NOT build cash value? Answers>> Term Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Answers>> Human life value The free look period provided in a life insurance policy is usually Answers>> 10 days What does "SHOP" stand in SHOP Exchange? Answers>> Small Business Health Options Program An employer is issued a group medical insurance policy. This single contract is known as a(n) Answers>> master policy Which of the following is NOT covered under Workers' Compensation? Answers>> Pain and suffering Which of the following provides Medicare supplement policies? Answers>> Private insurance companies A life settlement intermediary is a(n) Answers>> association which maintains a facility that displays offers and counteroffers for purchasers or sellers of life settlement contracts An annuitant dies during the distribution period. What kind of annunity will return to a beneficiary the difference between the annunity value and the income payment already made? Answers>> Refund annuity The is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. Answers>> Agent The purpose of the Coordination of Benefits provision in group accident and health plans is to Answers>> avoid overpayment of claims Medicaid is intended for Answers>> poverty stricken people A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is called a(n) Answers>> collateral assignment A disability policy where the premiums are due monthly require a grace period of Answers>> 10 days Tom the agent replaced a client's insurance policy when it was not in the client's best interest. Tom could be found guilty of Answers>> twisting Which type of annuity stops all payments upon the death of the annuitant? Answers>> Life annuity Decreasing term life insurance is often used to Answers>> provide coverage for a home mortgage What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Answers>> Specified amount of money Major medical insurance will typically cover medical expenses that result from Answers>> a negative reaction to prescribed medication The typical long-term care insurance policy is designed to provide a minimum of__________ year(s) of coverage Answers>> 1 The double indemnity provision in a life insurance policy pertains to an insured's death caused by a(n) Answers>> accident