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Xcel Solutions Final Exam - Michigan Life
and Health ACTUAL Exam Questions And
Answers 100% Pass
Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering
all three of their lives. If Mike dies first, the policy proceeds
A.) Will no longer provide insurance protection
B.) Will go to Mike's estate
C.) Wwill be divided by probate
D.) Will not be paid until the last brother dies - ANS A.) Will no longer provide insurance
protection
Susan is insured through her Group Health Insurance plan and changed her coverage to an
individual plan with the same insurer after her employment was terminated. This change is
called a(n)
A.) Crossover
B.) Conversion
C.) Exchange
D.) Extension of benefits - ANS A.) Conversion
Which of the following is NOT a common exclusion for a medical expense policy?
A.) Physical Therapy
B.) Act of War
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C.) On-the-Job Injury
D.) Self Inflicted Injury - ANS A.) Physical Therapy
The acceptance of a credit life application requires the submission fo a certificate of insurance
to the insured within _____ days.
A.) 10
B.) 20
C.) 30
D.) 40 - ANS C.) 30
In the state of Michigan, a licensed producer
A.) represents the insurer
B.) may modify insurance contracts
C.) approves insurance contracts
D.) represents the insured - ANS A.) represents the insurer
A life insurance policy sold in Michigan may be contested by the insurer ONLY during the first
_____ year(s) of the contract.
A.) one
B.) two
C.) three
D.) four - ANS B.) two
Which of the following does Medicare Part D cover?
A.) intensive care coverage
B.) Doctor visits
C.) Prescription drugs
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D.) Hospital coverage - ANS C.) Prescription drugs
Which situation accurately describes a reduced paid-up nonforfeiture option?
A.) Policy has a decreased face amount
B.) Face amount of the new policy equals that of the original policy
C.) Cash value is surrendered to policy owner
D.) Premiums must continue to be paid - ANS A.) Policy has a decrease face amount
An example of a presumptive disability would be
A.) a stroke
B.) deafness
C.) diabetes
D.) cancer - ANS B.) deafness
Under Michigan Insurance Code, Chapter 45, financial loss can be defined as
A.) loss of income
B.) restrictive fees
C.) punitive penalties
D.) additional fines - ANS A.) loss of income
A newborn must be covered under and existing health policy
A.) at the moment of birth
B.) within 7 days of birth
C.) within 10 days of birth
D.) when initial premium is paid for newborn - ANS A.) at the moment of birth
All of these statements concerning whole life insurance are false EXCEPT
Xcel Solutions Final Exam - Michigan Life
and Health ACTUAL Exam Questions And
Answers 100% Pass
Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering
all three of their lives. If Mike dies first, the policy proceeds
A.) Will no longer provide insurance protection
B.) Will go to Mike's estate
C.) Wwill be divided by probate
D.) Will not be paid until the last brother dies - ANS A.) Will no longer provide insurance
protection
Susan is insured through her Group Health Insurance plan and changed her coverage to an
individual plan with the same insurer after her employment was terminated. This change is
called a(n)
A.) Crossover
B.) Conversion
C.) Exchange
D.) Extension of benefits - ANS A.) Conversion
Which of the following is NOT a common exclusion for a medical expense policy?
A.) Physical Therapy
B.) Act of War
, ©EVERLY 2025 ALL RIGHTS RESERVED
C.) On-the-Job Injury
D.) Self Inflicted Injury - ANS A.) Physical Therapy
The acceptance of a credit life application requires the submission fo a certificate of insurance
to the insured within _____ days.
A.) 10
B.) 20
C.) 30
D.) 40 - ANS C.) 30
In the state of Michigan, a licensed producer
A.) represents the insurer
B.) may modify insurance contracts
C.) approves insurance contracts
D.) represents the insured - ANS A.) represents the insurer
A life insurance policy sold in Michigan may be contested by the insurer ONLY during the first
_____ year(s) of the contract.
A.) one
B.) two
C.) three
D.) four - ANS B.) two
Which of the following does Medicare Part D cover?
A.) intensive care coverage
B.) Doctor visits
C.) Prescription drugs
, ©EVERLY 2025 ALL RIGHTS RESERVED
D.) Hospital coverage - ANS C.) Prescription drugs
Which situation accurately describes a reduced paid-up nonforfeiture option?
A.) Policy has a decreased face amount
B.) Face amount of the new policy equals that of the original policy
C.) Cash value is surrendered to policy owner
D.) Premiums must continue to be paid - ANS A.) Policy has a decrease face amount
An example of a presumptive disability would be
A.) a stroke
B.) deafness
C.) diabetes
D.) cancer - ANS B.) deafness
Under Michigan Insurance Code, Chapter 45, financial loss can be defined as
A.) loss of income
B.) restrictive fees
C.) punitive penalties
D.) additional fines - ANS A.) loss of income
A newborn must be covered under and existing health policy
A.) at the moment of birth
B.) within 7 days of birth
C.) within 10 days of birth
D.) when initial premium is paid for newborn - ANS A.) at the moment of birth
All of these statements concerning whole life insurance are false EXCEPT
