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Final Exam XCEL VA Exam Questions
and Answers 100% Pass
The free-look period for a new Medicare Supplement policy is - ✔✔30 days
Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy
minus total dividends received in cash or used to offset premiums is referred to as the - ✔✔cost basis
All of these are duties that a producer may be required to perform when delivering an insurance policy
EXCEPT - ✔✔leave a conditional receipt with client
which of these would likely be considered an Unfair Claims Settlement practice? - ✔✔offering settlements
that are less than the fair value to offset insurer expenses
Kelly purchases a health insurance policy issued on a conditionally renewable basis. The insurance
company has a right to refuse renewal of the policy for - ✔✔specific reasons stated in the contract
The automatic premium loan provision can be accurately described as a - ✔✔provision that provides a
policy loan to pay any premiums by the end of the grace period
An insured files for an accident and health insurance policy claim eight days after the premium due date.
The benefit payable is $500 and the overdue premium is $200.
Assuming that the policy pays on a first-dollar basis and contains the unpaid premium provision, how
much will the insurer pay? - ✔✔$300
What effect can a long-term care benefit rider have on a life insurance policy - ✔✔reduced death benefit
Emily Charlene © 2025, All Rights Reserved.
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Jerome is covered by a disability income policy that does NOT provide benefits for losses occurring as the
result of his employment. What kind of coverage is this? - ✔✔nonoccupational coverage
insurable Interest in one's own life is legally considered as - ✔✔generally unlimited
under what circumstance does an accident and health insurer have the right to request an autopsy -
✔✔when not prohibited by state law
The pre-existing conditions exclusion under a small employer medical plan - ✔✔may be partially or fully
satisfied by having creditable coverage with a previous employer
major medical plans typically exclude coverage for which of the following benefits - ✔✔custodial care
An employee welfare plan exempt from ERISA regulations would be - ✔✔church plans
which of the following is not an intended use of an annuity - ✔✔Create new funds upon the death of a
wage-earner
Which of these statements about traditional individual retirement accounts is accurate? - ✔✔10% penalty
is applied to withdrawals prior to age 59 1/2
The reason for backdating a policy is - ✔✔to obtain a premium rate based on an earlier age
in a disability income contract, an insured is considered to be totally disabled under the presumptive
disability provision if he/she - ✔✔loses the ability to speak
Dan has a major medical expense policy with a $200 deductible and an 80/20 coinsurance provision. He
incurs covered medical expenses of $100 in November and $400 in January. Under the carryover
provision, what will the insurer pay? - ✔✔$240
a prepaid dental plan has an agreement in place with a network of dentists which - ✔✔accepts an
established amount as payment in full for the dental service rendered
Emily Charlene © 2025, All Rights Reserved.
Final Exam XCEL VA Exam Questions
and Answers 100% Pass
The free-look period for a new Medicare Supplement policy is - ✔✔30 days
Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy
minus total dividends received in cash or used to offset premiums is referred to as the - ✔✔cost basis
All of these are duties that a producer may be required to perform when delivering an insurance policy
EXCEPT - ✔✔leave a conditional receipt with client
which of these would likely be considered an Unfair Claims Settlement practice? - ✔✔offering settlements
that are less than the fair value to offset insurer expenses
Kelly purchases a health insurance policy issued on a conditionally renewable basis. The insurance
company has a right to refuse renewal of the policy for - ✔✔specific reasons stated in the contract
The automatic premium loan provision can be accurately described as a - ✔✔provision that provides a
policy loan to pay any premiums by the end of the grace period
An insured files for an accident and health insurance policy claim eight days after the premium due date.
The benefit payable is $500 and the overdue premium is $200.
Assuming that the policy pays on a first-dollar basis and contains the unpaid premium provision, how
much will the insurer pay? - ✔✔$300
What effect can a long-term care benefit rider have on a life insurance policy - ✔✔reduced death benefit
Emily Charlene © 2025, All Rights Reserved.
, 2|Page
Jerome is covered by a disability income policy that does NOT provide benefits for losses occurring as the
result of his employment. What kind of coverage is this? - ✔✔nonoccupational coverage
insurable Interest in one's own life is legally considered as - ✔✔generally unlimited
under what circumstance does an accident and health insurer have the right to request an autopsy -
✔✔when not prohibited by state law
The pre-existing conditions exclusion under a small employer medical plan - ✔✔may be partially or fully
satisfied by having creditable coverage with a previous employer
major medical plans typically exclude coverage for which of the following benefits - ✔✔custodial care
An employee welfare plan exempt from ERISA regulations would be - ✔✔church plans
which of the following is not an intended use of an annuity - ✔✔Create new funds upon the death of a
wage-earner
Which of these statements about traditional individual retirement accounts is accurate? - ✔✔10% penalty
is applied to withdrawals prior to age 59 1/2
The reason for backdating a policy is - ✔✔to obtain a premium rate based on an earlier age
in a disability income contract, an insured is considered to be totally disabled under the presumptive
disability provision if he/she - ✔✔loses the ability to speak
Dan has a major medical expense policy with a $200 deductible and an 80/20 coinsurance provision. He
incurs covered medical expenses of $100 in November and $400 in January. Under the carryover
provision, what will the insurer pay? - ✔✔$240
a prepaid dental plan has an agreement in place with a network of dentists which - ✔✔accepts an
established amount as payment in full for the dental service rendered
Emily Charlene © 2025, All Rights Reserved.
