XCEL SOLUTIONS FINAL EXAM
MARYLAND LIFE AND HEALTH
QUESTIONS WITH CORRECT
ANSWERS
An insured, age 67, is covered under a disability income policy. What will the insurer
normally require in order for the insured to continue coverage? - ANSWER-The
insured must be actively at work for a specified number of hours per week
Which of these statements reflects an accurate portrayal of Medicare SELECT? -
ANSWER-Insured uses preferred provides in exchange for paying lower premiums
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has passed? - ANSWER-
Incontestable clause
A policyowner has just borrowed from a life insurance policy's cash value. which oof
these statements is true? - ANSWER-In the event of death, the loan amount is
deducted from the policy proceeds
Specialty care is provided by which oof the following health maintenance
organization (HMO) providers? - ANSWER-Neurologist
Home health care benefits typically do NOT include coverage for - ANSWER-
Prescription medication
XYZ Corp gives money to an employee to purchase a life insurance policy and
allows the employee to select the beneficiary. What kind of plan is this? - ANSWER-
Split-dollar
The amount of a covered loss to be paid by the insured before a major medical
expense policy begins to pay is called the - ANSWER-Deductible amount
Tom has a qualified retirement plan with his employer that is currently considered
considered to be 80% "vested". How can this be interpreted? - ANSWER-If Tom's
employment is terminated, 20% of the funds could be forfeited
Which of the following is NOT guaranteed in a whole life policy? - ANSWER-
Dividend scale
Third-party administration has become fairly common in accident and health
insurance due to the growth of - ANSWER-Self-funding of benefits
Which of the following is NOT included as a hospice benefit under a major medical
plan? - ANSWER-Rehabilitation
MARYLAND LIFE AND HEALTH
QUESTIONS WITH CORRECT
ANSWERS
An insured, age 67, is covered under a disability income policy. What will the insurer
normally require in order for the insured to continue coverage? - ANSWER-The
insured must be actively at work for a specified number of hours per week
Which of these statements reflects an accurate portrayal of Medicare SELECT? -
ANSWER-Insured uses preferred provides in exchange for paying lower premiums
Which life insurance clause prohibits an insurance company from questioning the
validity of the contract after a stated period of time has passed? - ANSWER-
Incontestable clause
A policyowner has just borrowed from a life insurance policy's cash value. which oof
these statements is true? - ANSWER-In the event of death, the loan amount is
deducted from the policy proceeds
Specialty care is provided by which oof the following health maintenance
organization (HMO) providers? - ANSWER-Neurologist
Home health care benefits typically do NOT include coverage for - ANSWER-
Prescription medication
XYZ Corp gives money to an employee to purchase a life insurance policy and
allows the employee to select the beneficiary. What kind of plan is this? - ANSWER-
Split-dollar
The amount of a covered loss to be paid by the insured before a major medical
expense policy begins to pay is called the - ANSWER-Deductible amount
Tom has a qualified retirement plan with his employer that is currently considered
considered to be 80% "vested". How can this be interpreted? - ANSWER-If Tom's
employment is terminated, 20% of the funds could be forfeited
Which of the following is NOT guaranteed in a whole life policy? - ANSWER-
Dividend scale
Third-party administration has become fairly common in accident and health
insurance due to the growth of - ANSWER-Self-funding of benefits
Which of the following is NOT included as a hospice benefit under a major medical
plan? - ANSWER-Rehabilitation
