XCEL TESTING SOLUTIONS - LIFE AND
HEALTH Insurance - Weighted Exam
150 Questions & Answers
1.The Do Not Call Registry offers exemptions for calls placed from all of
the following EXCEPT
Answer insurance sales calls
Charities, political organizations, and surveys are all offered exemptions
from The Do Not Call Registry
2.The type of policy where the insurer can send a notice to the insured that
the policy has been cancelled in the middle of the term is called
Answer cancelable the renewability provision in a cancelable policy
allows the insurer to cancel or terminate the policy at any time, simply
by providing written notification to the insured and refunding any
advance premium that has been paid.
3.Barbara's policy includes a rider which allows her to purchase
additional insurance at specific dates or events without evidence of
insurability. This rider is called a(n)
Answer Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase
,additional insur- ance at specific dates or events without evidence of
insurability.
4.Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered
Answer Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates
be increased under any circumstances.
5.In what part of an insurance policy are policy benefits found?
Answer Declarations Essentially, the insurance declaration page is like a
quick guide to the insurance policy, providing all of the basic
information the policyholder needs to know.
6.What happens if the insurer discovers that the insured's age was
accidental- ly misstated on an application for an individual life insurance
policy?
Answer Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age
Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age.
7.Health insurance will typically cover which of the following perils?
Answer Injury due to accident
,Accidental injury is typically a covered peril in health insurance.
8.A viatical settlement contract is an agreement between
Answer A life insurance policyowner and a viatical settlement
provider
A viatical settlement contract is an agreement between a life insurance
policyowner and a viatical settlement provider.
9.Under the Affordable Care Act, how would a grandfathered health plan
lose its grandfathered status?
Answer The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may
lose their
grandfathered status if the insurer significantly raises co-insurance
charges, de- ductibles, or co-payment charges
10. Which of these techniques will remove the risk of losing money in the
stock market by never purchasing stocks?
Answer Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock
market by never investing in stocks.
11.Which of the following nursing home options would BEST suit an in-
, dividual who needs some nursing care and supervision but NOT full-
time care?
Answer Assisted living facilities
An assisted living facility would best suit an individual who needs some
nursing care and supervision but not full-time care.
12.Under Louisiana law, the agreement between an insurance producer and
insurer under which the insurance producer, for compensation, may sell,
solicit, or negotiate policies issued by the insurer is defined as
Answer an appointment The agreement between an insurance producer
and insurer under which the insur- ance producer, for compensation,
may sell, solicit, or negotiate policies issued by the insurer is called an
appointment.
13.Which of these would NOT be considered a presumptive disability?
Answer Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
14.A producer's license in Louisiana must be renewed every
Answer Two years Producer licenses are issued for periods of 2
years.
15.Bill requires some nursing care and supervision but NOT full-time care.
Which of these nursing home options would best serve him?
HEALTH Insurance - Weighted Exam
150 Questions & Answers
1.The Do Not Call Registry offers exemptions for calls placed from all of
the following EXCEPT
Answer insurance sales calls
Charities, political organizations, and surveys are all offered exemptions
from The Do Not Call Registry
2.The type of policy where the insurer can send a notice to the insured that
the policy has been cancelled in the middle of the term is called
Answer cancelable the renewability provision in a cancelable policy
allows the insurer to cancel or terminate the policy at any time, simply
by providing written notification to the insured and refunding any
advance premium that has been paid.
3.Barbara's policy includes a rider which allows her to purchase
additional insurance at specific dates or events without evidence of
insurability. This rider is called a(n)
Answer Guaranteed insurability rider
A guaranteed insurability rider allows for the insured to purchase
,additional insur- ance at specific dates or events without evidence of
insurability.
4.Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered
Answer Noncancellable
A noncancellable policy cannot be cancelled nor can its premium rates
be increased under any circumstances.
5.In what part of an insurance policy are policy benefits found?
Answer Declarations Essentially, the insurance declaration page is like a
quick guide to the insurance policy, providing all of the basic
information the policyholder needs to know.
6.What happens if the insurer discovers that the insured's age was
accidental- ly misstated on an application for an individual life insurance
policy?
Answer Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age
Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age.
7.Health insurance will typically cover which of the following perils?
Answer Injury due to accident
,Accidental injury is typically a covered peril in health insurance.
8.A viatical settlement contract is an agreement between
Answer A life insurance policyowner and a viatical settlement
provider
A viatical settlement contract is an agreement between a life insurance
policyowner and a viatical settlement provider.
9.Under the Affordable Care Act, how would a grandfathered health plan
lose its grandfathered status?
Answer The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans may
lose their
grandfathered status if the insurer significantly raises co-insurance
charges, de- ductibles, or co-payment charges
10. Which of these techniques will remove the risk of losing money in the
stock market by never purchasing stocks?
Answer Risk avoidance
Risk avoidance could eliminate the risk of losing money in the stock
market by never investing in stocks.
11.Which of the following nursing home options would BEST suit an in-
, dividual who needs some nursing care and supervision but NOT full-
time care?
Answer Assisted living facilities
An assisted living facility would best suit an individual who needs some
nursing care and supervision but not full-time care.
12.Under Louisiana law, the agreement between an insurance producer and
insurer under which the insurance producer, for compensation, may sell,
solicit, or negotiate policies issued by the insurer is defined as
Answer an appointment The agreement between an insurance producer
and insurer under which the insur- ance producer, for compensation,
may sell, solicit, or negotiate policies issued by the insurer is called an
appointment.
13.Which of these would NOT be considered a presumptive disability?
Answer Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive disability.
14.A producer's license in Louisiana must be renewed every
Answer Two years Producer licenses are issued for periods of 2
years.
15.Bill requires some nursing care and supervision but NOT full-time care.
Which of these nursing home options would best serve him?
