XCEL TESTING SOLUTIONS – LIFE & HEALTH INSURANCE WEIGHTED EXAM WITH 100% CORRECT QUESTIONS AND ANSWERS 2024.

XCEL TESTING SOLUTIONS – LIFE & HEALTH INSURANCE WEIGHTED EXAM WITH 100% CORRECT QUESTIONS AND ANSWERS 2024. 2 / 16 1. The Do Not Call Registry offers exemptions for calls placed from all of thefollowing EXCEPT: insurance sales calls Charities, political organizations, and surveys are all offered exemptions fromTheDo 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 insuredand refunding any advance premium that has been paid. 3. Barbara's policy includes a rider which allows her to purchase additionalinsurance 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 insur-ance at specific dates or events without evidence of insurability. 4. Disability Income plans which require that the insurer can NEVER changeor alter premium rates are usually considered: Noncancellable A noncancellable policy cannot be cancelled nor can its premium rates be increasedunder any circumstances. 5. In what part of an insurance policy are policy benefits found?: DeclarationsEssentially, 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 happensifthe insurer discoversthatthe insured's age was accidental-ly misstated on an application for an individual life insurance policy?: Benefitswill 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 premiumpaid wouldhave purchased for the correct age. 7. Health insurance will typically cover which of the following perils?: Injurydue to accident Accidental injury is typically a covered peril in health insurance. 8. A viatical settlement contract is an agreement between: A life insurancepolicyowner and a viatical settlement provider 3 / 16 A viatical settlement contract is an agreement between a life insurance policyownerand a viatical settlement provider. 9. Under the Affordable Care Act, how would a grandfathered health plan loseits grandfathered status?: The insurer significantly raises co-insurance charges,deductibles, or co-payment charges According to the Affordable Care Act, grandfathered health plans may lose their 4 / 16 grandfathered status if the insurer significantly raises co-insurance charges, de-ductibles, or copayment charges 10. Which ofthese techniques will remove the risk oflosing money in the stockmarket by never purchasing stocks?: Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock market by neverinvesting in stocks. 11. Which of the following nursing home options would BEST suit an in- dividual who needs some nursing care and supervision but NOT full-timecare?: Assisted living facilities An assisted living facility would bestsuit an individual who needssome nursing careand 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 policiesissued by the insurer is defined as: an appointmentThe agreement between an insurance producer and insurer under which the insur-ance 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?: Lossof 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 yearsProducer 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