Xcel Solutions Final Exam 2024

Xcel Solutions Final Exam 2024 Who does a life settlement broker represent? - Answer ️️ -Individual wanting to sell their life policy to a third party What is the insurance term the State of California uses for an insurer that is eligible to transact business in this state? - Answer ️️ -Admitted Most U.S. life insurance companies belong to the - Answer ️️ -Medical Information Bureau Which of the following healthcare providers provide both the healthcare services and healthcare coverage? - Answer ️️ -Health Maintenance Organization (HMO) Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? - Answer ️️ -Traveling overseas with a spouse Which word implies permissiveness according to the California Insurance Code? - Answer ️️ - may When found in California Insurance Code, the word "may" implies permissiveness. Under a long-term care insurance policy, adult day care coverage will provide for - Answer ️️ - part time care at a facility for elderly individuals who live at home Major medical expense plans typically use a cost containment measure for emergency hospital care. This is referred to as a - Answer ️️ -Deductible Pam is the primary beneficiary of a life insurance policy and wants to let the death benefit accumulate and receive only the monthly investment proceeds. Which settlement option should she choose? - Answer ️️ -Interest Option Reasonably necessary acts that an agent must perform for carrying out his/her expressly authorized duties are covered by an agent's - Answer ️️ -Implied authority Kim is insured under a disability income insurance policy with an "own occupation" clause. She was recently injured in an automobile accident and can no longer perform the tasks of her job. Kim is now considered to be - Answer ️️ -Totally Disabled What is a common reason people purchase an annuity - Answer ️️ -To protect against the risk of outliving their financial resources Why is a life insurance policy's delivery date important? - Answer ️️ -The free-look period begins on the policy delivery