©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
XCEL Life and Health Insurance Test
Review Questions and Answers
Period Certain - Answer✔️✔️-Which annuity payout option allows the
policy owner to choose a pre-determined number of benefit payments?
Life only annuity - Answer✔️✔️-Which annuity payout option has no
additional payouts regardless of when the annuitant dies
Errors and Omissions - Answer✔️✔️-a professional liability for which
producers can be sued for mistakes of putting a policy into effect
irrevocable beneficiary - Answer✔️✔️-requires the beneficiary's signature for
any change to the beneficiary
representations - Answer✔️✔️-statements made by an insurance applicant
on an application
a specified amount of money - Answer✔️✔️-life insurance policies guarantee
the beneficiary what upon the death of the insured
Endodontics - Answer✔️✔️-common exclusion on a dental policy
Home health care - Answer✔️✔️-Which type of long-term care benefit
would be most appropriate for a stroke victim who requires speech therapy
administered at her home?
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
March 23, 2010 - Answer✔️✔️-According to the Affordable Care Act, any
plan in existence prior to which date is considered a grandfathered plan?
Social Security Disability Income (SSDI) - Answer✔️✔️-Which of the
following is NOT a type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) - Answer✔️✔️-Coordination of
Benefits regulation applies to all of the following plans EXCEPT
30 days - Answer✔️✔️-Both long-term care insurance and Medicare
Supplement policies may be returned by the insured for a full refund
within
Hospital Indemnity - Answer✔️✔️-Which type of coverage pays an amount
per day for hospitalization directly to the insured regardless of the
insured's other health insurance?
Limited Policies - Answer✔️✔️-Low frequency diseases can be exclusively
covered by what kind of health insurance policies?
Work-related - Answer✔️✔️-What type of injury would NOT be covered
under a health insurance policy?
It would be considered taxable income to the employee - Answer✔️✔️-
Without a Section 125 Plan in place, what would happen to an employee's
payroll contribution to an HSA?
2
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
a policy that is paid up after only one payment - Answer✔️✔️-A single
premium cash value policy can be described as
Must have Medicare coverage - Answer✔️✔️-How does one become eligible
for Part D: Prescription Drug coverage?
root canal - Answer✔️✔️-An example of endodontic treatment is a
US Attorney General - Answer✔️✔️-Under US Code 1033, crimes by or
affecting persons engaged in the business of insurance which affect
interstate commerce are prosecuted by the
Mortality costs - Answer✔️✔️-What would be an expense factor in an
insurance program?
Insurer - Answer✔️✔️-Which of the following signatures is not required on
an individual insurance application?
outpatient medical services - Answer✔️✔️-All of the following are defined as
supplemental health insuring corporation (HIC) services EXCEPT
upper limit of the total lifetime benefits the insurance company will pay -
Answer✔️✔️-"Maximum benefits" refers to the
the beneficiary - Answer✔️✔️-Signatures for an insurance application MUST
be obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated - Answer✔️✔️-What happens to the coverage under
a children's term rider when that child reaches a certain specified age?
3
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
increase the premiums on an individual basis - Answer✔️✔️-Which of the
following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent - Answer✔️✔️-When the
superintendent believes an agent is causing substantial and material harm,
the superintendent has the authority to
A good health statement - Answer✔️✔️-Upon policy delivery, which of the
following must a producer have an applicant sign if no initial premium
was collected with the life insurance application?
Hedge against inflation - Answer✔️✔️-Index whole life insurance contains a
securities component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries - Answer✔️✔️-
Which of the following statements regarding Group Disability Income
insurance is TRUE?
Employee must be able to make unlimited contributions - Answer✔️✔️-
Which of the following is NOT a federal requirement of a qualified plan?
Own occupation clause - Answer✔️✔️-Which clause defines total disability
as being unable to perform the major duties of the insured's regular
occupation?
not tax deductible - Answer✔️✔️-How are premiums paid by the insured for
personally owned disability income insurance treated for tax purposes?
4
XCEL Life and Health Insurance Test
Review Questions and Answers
Period Certain - Answer✔️✔️-Which annuity payout option allows the
policy owner to choose a pre-determined number of benefit payments?
Life only annuity - Answer✔️✔️-Which annuity payout option has no
additional payouts regardless of when the annuitant dies
Errors and Omissions - Answer✔️✔️-a professional liability for which
producers can be sued for mistakes of putting a policy into effect
irrevocable beneficiary - Answer✔️✔️-requires the beneficiary's signature for
any change to the beneficiary
representations - Answer✔️✔️-statements made by an insurance applicant
on an application
a specified amount of money - Answer✔️✔️-life insurance policies guarantee
the beneficiary what upon the death of the insured
Endodontics - Answer✔️✔️-common exclusion on a dental policy
Home health care - Answer✔️✔️-Which type of long-term care benefit
would be most appropriate for a stroke victim who requires speech therapy
administered at her home?
1
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
March 23, 2010 - Answer✔️✔️-According to the Affordable Care Act, any
plan in existence prior to which date is considered a grandfathered plan?
Social Security Disability Income (SSDI) - Answer✔️✔️-Which of the
following is NOT a type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) - Answer✔️✔️-Coordination of
Benefits regulation applies to all of the following plans EXCEPT
30 days - Answer✔️✔️-Both long-term care insurance and Medicare
Supplement policies may be returned by the insured for a full refund
within
Hospital Indemnity - Answer✔️✔️-Which type of coverage pays an amount
per day for hospitalization directly to the insured regardless of the
insured's other health insurance?
Limited Policies - Answer✔️✔️-Low frequency diseases can be exclusively
covered by what kind of health insurance policies?
Work-related - Answer✔️✔️-What type of injury would NOT be covered
under a health insurance policy?
It would be considered taxable income to the employee - Answer✔️✔️-
Without a Section 125 Plan in place, what would happen to an employee's
payroll contribution to an HSA?
2
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
a policy that is paid up after only one payment - Answer✔️✔️-A single
premium cash value policy can be described as
Must have Medicare coverage - Answer✔️✔️-How does one become eligible
for Part D: Prescription Drug coverage?
root canal - Answer✔️✔️-An example of endodontic treatment is a
US Attorney General - Answer✔️✔️-Under US Code 1033, crimes by or
affecting persons engaged in the business of insurance which affect
interstate commerce are prosecuted by the
Mortality costs - Answer✔️✔️-What would be an expense factor in an
insurance program?
Insurer - Answer✔️✔️-Which of the following signatures is not required on
an individual insurance application?
outpatient medical services - Answer✔️✔️-All of the following are defined as
supplemental health insuring corporation (HIC) services EXCEPT
upper limit of the total lifetime benefits the insurance company will pay -
Answer✔️✔️-"Maximum benefits" refers to the
the beneficiary - Answer✔️✔️-Signatures for an insurance application MUST
be obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated - Answer✔️✔️-What happens to the coverage under
a children's term rider when that child reaches a certain specified age?
3
, ©SOPHIABENNETT@2024-2025 Monday, August 26, 2024 6:09 AM
increase the premiums on an individual basis - Answer✔️✔️-Which of the
following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent - Answer✔️✔️-When the
superintendent believes an agent is causing substantial and material harm,
the superintendent has the authority to
A good health statement - Answer✔️✔️-Upon policy delivery, which of the
following must a producer have an applicant sign if no initial premium
was collected with the life insurance application?
Hedge against inflation - Answer✔️✔️-Index whole life insurance contains a
securities component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries - Answer✔️✔️-
Which of the following statements regarding Group Disability Income
insurance is TRUE?
Employee must be able to make unlimited contributions - Answer✔️✔️-
Which of the following is NOT a federal requirement of a qualified plan?
Own occupation clause - Answer✔️✔️-Which clause defines total disability
as being unable to perform the major duties of the insured's regular
occupation?
not tax deductible - Answer✔️✔️-How are premiums paid by the insured for
personally owned disability income insurance treated for tax purposes?
4
