Xcel Solutions Final Exam |Questions and
Verified Answers| 100% Correct| A Grade
(2025/ 2026)
QUESTION
T has a term policy that allows him to continue the coverage after expiration of the initial policy
period. What type of term coverage is this?
Answer:
renewable
QUESTION
When does a life insurance contract become effective if the initial premium is not collected
during the application process
Answer:
When producer delivers policy and collects initial premium
QUESTION
Which of the following benefits is not required under group health plan for drug and alcohol
treatment
Answer:
Transportation to and from a treatment facility
QUESTION
Which of the following types of health coverage frequently uses a deductible
Answer:
Major Medical policy
,QUESTION
Health insurance benefits NOT covered due to an act of war are
Answer:
Excluded by the insurer in the contact provisions
QUESTION
T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an
irrevocable beneficiary. What action will the insurance company take if T requests a change of
beneficiary?
Answer:
Request of the change will be refused
QUESTION
An evidence of coverage form may be issued by a HMO after being approved by the
Answer:
Commissioner
QUESTION
Which of the following statements about the classification of applicants is incorrect
Answer:
Substandard applicants are never declined by underwriters
QUESTION
An example of an unfair claims settlement practice is
,Answer:
turning down a claim without providing the basis of denial
QUESTION
All of the following statements regarding group health insurance is true Except
Answer:
An individual policy is given to each member
QUESTION
Which of the following statements is correct about accelerated death benefits
Answer:
Must have a terminal illness to qualify
QUESTION
An example of false advertising would be
Answer:
An insurer exaggerating its dividends in a magazine advertisement
QUESTION
What is considered to be a characteristic of a conditionally renewable health insurance policy
Answer:
Premiums may increase at time of renewal
QUESTION
What is being delivered during a policy delivery
, Answer:
Insurance contract to the proposed insured
QUESTION
Which statement is correct regarding the premium payment schedule for whole life policies
Answer:
Premiums are payable throughout the insured's lifetime/ coverage lasts until death of the insured
QUESTION
What is the purpose of the time of payment of claims provision
Answer:
Prevents delayed claim payments made by the insurer
QUESTION
S is employed by a large corporation that provides group health coverage for its employees and
their dependents. If S dies, the company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many months under COBRA
regulations
Answer:
36
QUESTION
A return of premium life insurance policy is
Answer:
Whole life and Increasing term
QUESTION
Verified Answers| 100% Correct| A Grade
(2025/ 2026)
QUESTION
T has a term policy that allows him to continue the coverage after expiration of the initial policy
period. What type of term coverage is this?
Answer:
renewable
QUESTION
When does a life insurance contract become effective if the initial premium is not collected
during the application process
Answer:
When producer delivers policy and collects initial premium
QUESTION
Which of the following benefits is not required under group health plan for drug and alcohol
treatment
Answer:
Transportation to and from a treatment facility
QUESTION
Which of the following types of health coverage frequently uses a deductible
Answer:
Major Medical policy
,QUESTION
Health insurance benefits NOT covered due to an act of war are
Answer:
Excluded by the insurer in the contact provisions
QUESTION
T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an
irrevocable beneficiary. What action will the insurance company take if T requests a change of
beneficiary?
Answer:
Request of the change will be refused
QUESTION
An evidence of coverage form may be issued by a HMO after being approved by the
Answer:
Commissioner
QUESTION
Which of the following statements about the classification of applicants is incorrect
Answer:
Substandard applicants are never declined by underwriters
QUESTION
An example of an unfair claims settlement practice is
,Answer:
turning down a claim without providing the basis of denial
QUESTION
All of the following statements regarding group health insurance is true Except
Answer:
An individual policy is given to each member
QUESTION
Which of the following statements is correct about accelerated death benefits
Answer:
Must have a terminal illness to qualify
QUESTION
An example of false advertising would be
Answer:
An insurer exaggerating its dividends in a magazine advertisement
QUESTION
What is considered to be a characteristic of a conditionally renewable health insurance policy
Answer:
Premiums may increase at time of renewal
QUESTION
What is being delivered during a policy delivery
, Answer:
Insurance contract to the proposed insured
QUESTION
Which statement is correct regarding the premium payment schedule for whole life policies
Answer:
Premiums are payable throughout the insured's lifetime/ coverage lasts until death of the insured
QUESTION
What is the purpose of the time of payment of claims provision
Answer:
Prevents delayed claim payments made by the insurer
QUESTION
S is employed by a large corporation that provides group health coverage for its employees and
their dependents. If S dies, the company must allow his surviving spouse and dependents to
continue their group health coverage for a maximum of how many months under COBRA
regulations
Answer:
36
QUESTION
A return of premium life insurance policy is
Answer:
Whole life and Increasing term
QUESTION
