Xcel Life Insurance Exam Questions
with Correct Answers 2025
Replacement regulation is designed to protect - CORRECT ANSWER -Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - CORRECT ANSWER -
Preventative health services
Which of these will have the highest monthly payout upon annuitization - CORRECT ANSWER -
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - CORRECT ANSWER -Clauses
Which of the following is considered to be an alternative to a life settlement? - CORRECT
ANSWER -Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT ANSWER -Benefits
are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT - CORRECT
ANSWER -Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - CORRECT ANSWER -Human life value approach
Which of the following policies does NOT build cash value? - CORRECT ANSWER -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? - CORRECT ANSWER -Human life value
The free look period provided in a life insurance policy is usually - CORRECT ANSWER -10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER -Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
CORRECT ANSWER -master policy
Which of the following is NOT covered under Workers' Compensation? - CORRECT ANSWER -
Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT ANSWER -Private
insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER -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?
- CORRECT ANSWER -Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy for an
applicant. - CORRECT ANSWER -Agent
, The purpose of the Coordination of Benefits provision in group accident and health plans is to -
CORRECT ANSWER -avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER -poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - CORRECT ANSWER -collateral assignment
A disability policy where the premiums are due monthly require a grace period of - CORRECT
ANSWER -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 - CORRECT ANSWER -twisting
Which type of annuity stops all payments upon the death of the annuitant? - CORRECT ANSWER
-Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER -provide coverage for a
home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of the
insured? - CORRECT ANSWER -Specified amount of money
Major medical insurance will typically cover medical expenses that result from - CORRECT
ANSWER -a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum of__________
year(s) of coverage - CORRECT ANSWER -1
with Correct Answers 2025
Replacement regulation is designed to protect - CORRECT ANSWER -Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - CORRECT ANSWER -
Preventative health services
Which of these will have the highest monthly payout upon annuitization - CORRECT ANSWER -
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - CORRECT ANSWER -Clauses
Which of the following is considered to be an alternative to a life settlement? - CORRECT
ANSWER -Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT ANSWER -Benefits
are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT - CORRECT
ANSWER -Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - CORRECT ANSWER -Human life value approach
Which of the following policies does NOT build cash value? - CORRECT ANSWER -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? - CORRECT ANSWER -Human life value
The free look period provided in a life insurance policy is usually - CORRECT ANSWER -10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER -Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
CORRECT ANSWER -master policy
Which of the following is NOT covered under Workers' Compensation? - CORRECT ANSWER -
Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT ANSWER -Private
insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER -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?
- CORRECT ANSWER -Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy for an
applicant. - CORRECT ANSWER -Agent
, The purpose of the Coordination of Benefits provision in group accident and health plans is to -
CORRECT ANSWER -avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER -poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - CORRECT ANSWER -collateral assignment
A disability policy where the premiums are due monthly require a grace period of - CORRECT
ANSWER -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 - CORRECT ANSWER -twisting
Which type of annuity stops all payments upon the death of the annuitant? - CORRECT ANSWER
-Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER -provide coverage for a
home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of the
insured? - CORRECT ANSWER -Specified amount of money
Major medical insurance will typically cover medical expenses that result from - CORRECT
ANSWER -a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum of__________
year(s) of coverage - CORRECT ANSWER -1
