Xcel solutions final exam questions and answers

Xcel solutions final exam questions and answers Insuring Which health policy clause specifies the amount of benefits to be paid - Correct Answer ️️ -Insuring The investment gains from a universal life policy usually go to - Correct Answer ️️ -The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - Correct Answer ️️ -Adjust the death benefit to a reduced amount An employee is covered under a company group life plan with a $50,000 death benefit. What is the Maximum amount a spouse may be insured for under this program - Correct Answer ️️ -$25,000 M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M. What determines the claim M is eligible for - Correct Answer ️️ - Determined by the terms of the policy A(n)__-_-_-_-_-_-_-_ beneficiary may be changed by the policy owner without the consent of the beneficiary - Correct Answer ️️ -Revocable What is the MINIMUM benefit period that must be offered by a long term care policy - Correct Answer ️️ -12 months To terminate an agent's appointment, an insurance company must - Correct Answer ️️ -Send termination notice to the Texas Department of Insurance An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium. When will the policy become effective? - Correct Answer ️️ -When the conditions of the receipt are met Which of the following costs would a Basic Hospital/Surgical policy cover? - Correct Answer ️️ -Surgically removing a facial birthmark Which of the following statements is CORRECT about an agent who is taking an insurance application - Correct Answer ️️ -The agent should have the applicant initial any changes made on the application Which statement is true about a whole life policy - Correct Answer ️️ -Cash value may be borrowed against How long does an insurance company appointment remain in force - Correct Answer ️️ -Until terminated Which of the following statements about health coverage for newborns is NOT true? - Correct Answer ️️ -Coverage is LIMITED to only congenital defects Medicare Part A and Part B do NOT pay for - Correct Answer ️️ -Dental care An insurance company receives E's application for an individual health policy. E did not complete all of the medical history questions because she could not remember the exact dates. E signed the policy and submitted it to the insurance company anyway. A few weeks later, E suffers a heart attack and is hospitalized without completing the medical history questions and paying the initial premium. E is not insured. Which of the following clauses details the conditions that E did not meet? - Correct Answer ️️ - Consideration clause The percentage of an individuals primary insurance amount determines the benefits paid in which of the following programs - Correct Answer ️️ -Social Security Disability Income Q is severely injured in an automobile accident and becomes totally disabled. How many months must Q be disabled before being able to apply for Social Security disability benefits? - Correct Answer ️️ -5 months After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms - Correct Answer ️️ -File written proof of loss Which of the following types of care is typically not covered in a long term care policy - Correct Answer ️️ -acupuncture Which of these does not constitute policy delivery - Correct Answer ️️ -Policy issued with a rating Which type of plan normally includes hospice benefits - Correct Answer ️️ -Managed care plans Non-occupational disability coverage is designed for - Correct Answer ️️ -Employees who suffer non work related disabilities, since work related disabilities are covered by workers compensation A policy of adhesion can only be modified by whom - Correct Answer ️