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Xcel Life Insurance Exam Questions with
Detailed Verified Answers (100% Correct
Answers) /Already Graded A+
Replacement regulation is designed to protect
Ans: Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide
Ans: Preventative health services
Which of these will have the highest monthly payout upon annuitization
Ans: Straight life
Which of the following is included in the entire contract according ti the entire
contract provison?
Ans: Clauses
Which of the following is considered to be an alternative to a life settlement?
Ans: Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid?
Ans: Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT
Ans: Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much
of that amount would be devoted to dependents?
Ans: Human life value approach
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Which of the following policies does NOT build cash value?
Ans: Term
Which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death?
Ans: Human life value
The free look period provided in a life insurance policy is usually
Ans: 10 days
What does "SHOP" stand in SHOP Exchange?
Ans: Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is
known as a(n)
Ans: master policy
Which of the following is NOT covered under Workers' Compensation?
Ans: Pain and suffering
Which of the following provides Medicare supplement policies?
Ans: Private insurance companies
A life settlement intermediary is a(n)
Ans: association which maintains a facility that displays offers and counteroffers for
purchasers or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return
to a beneficiary the difference between the annunity value and the income
payment already made?
Ans: Refund annuity
The is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant.
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Ans: Agent
The purpose of the Coordination of Benefits provision in group accident and
health plans is to
Ans: avoid overpayment of claims
Medicaid is intended for
Ans: poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to
secure a loan is called a(n)
Ans: collateral assignment
A disability policy where the premiums are due monthly require a grace period
of
Ans: 10 days
Tom the agent replaced a client's insurance policy when it was not in the client's
best interest. Tom could be found guilty of
Ans: twisting
Which type of annuity stops all payments upon the death of the annuitant?
Ans: Life annuity
Decreasing term life insurance is often used to
Ans: provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured?
Ans: Specified amount of money
Major medical insurance will typically cover medical expenses that result from
Ans: a negative reaction to prescribed medication
Click here for more: Preppass - Stuvia
Xcel Life Insurance Exam Questions with
Detailed Verified Answers (100% Correct
Answers) /Already Graded A+
Replacement regulation is designed to protect
Ans: Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide
Ans: Preventative health services
Which of these will have the highest monthly payout upon annuitization
Ans: Straight life
Which of the following is included in the entire contract according ti the entire
contract provison?
Ans: Clauses
Which of the following is considered to be an alternative to a life settlement?
Ans: Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid?
Ans: Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT
Ans: Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much
of that amount would be devoted to dependents?
Ans: Human life value approach
,Page | 2
Click here for more: Preppass - Stuvia
Which of the following policies does NOT build cash value?
Ans: Term
Which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death?
Ans: Human life value
The free look period provided in a life insurance policy is usually
Ans: 10 days
What does "SHOP" stand in SHOP Exchange?
Ans: Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is
known as a(n)
Ans: master policy
Which of the following is NOT covered under Workers' Compensation?
Ans: Pain and suffering
Which of the following provides Medicare supplement policies?
Ans: Private insurance companies
A life settlement intermediary is a(n)
Ans: association which maintains a facility that displays offers and counteroffers for
purchasers or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return
to a beneficiary the difference between the annunity value and the income
payment already made?
Ans: Refund annuity
The is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant.
, Page | 3
Click here for more: Preppass - Stuvia
Ans: Agent
The purpose of the Coordination of Benefits provision in group accident and
health plans is to
Ans: avoid overpayment of claims
Medicaid is intended for
Ans: poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to
secure a loan is called a(n)
Ans: collateral assignment
A disability policy where the premiums are due monthly require a grace period
of
Ans: 10 days
Tom the agent replaced a client's insurance policy when it was not in the client's
best interest. Tom could be found guilty of
Ans: twisting
Which type of annuity stops all payments upon the death of the annuitant?
Ans: Life annuity
Decreasing term life insurance is often used to
Ans: provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured?
Ans: Specified amount of money
Major medical insurance will typically cover medical expenses that result from
Ans: a negative reaction to prescribed medication
