XCEL NY-LIFE & HEALTH EXAM
SIMULATOR 2025/2026 BANK
COMPLETE STUDY GUIDE ACCURATE
REAL EXAM QUESTIONS TESTING
VERSIONS AND A STUDY GUIDE |
EXPERT VERIFIED FOR GUARANTEED
PASS
Maria would like an annuity that provides a guaranteed
accumulation or payout. The type of annuity she is
seeking is called - ....ANSWER...annuity certain
A professional liability for which producers can be sued for
mistakes of putting a policy into effect is called -
....ANSWER...errors and omissions
Which of the following enables a life policy to be replaced
with another life policy and results in the postponement of
the tax consequence? - ....ANSWER...Section 1035
exchange
,When the principal gives the agent authority in writing,
it's referred to as - ....ANSWER...express authority
An HMO that involves a partnership of physicians and
other providers who practice out of a central facility is
called a(n) - ....ANSWER...group HMO
All of the following are core benefits of Medicare
Supplement Plan A EXCEPT - ....ANSWER...Deductible
payments for the first 60 days of hospitalization under
Medicare hospitalization insurance
In New York, a Medicare Supplement policy must be
______ renewable. - ....ANSWER...guaranteed
An agent who sells an individual life insurance policy in
Washington MUST deliver to the policyowner a(n) -
....ANSWER...Policy Summary and Buyer's Guide
The Fair Credit Reporting Act protects consumers -
....ANSWER...with guidelines regarding credit reporting
and distribution
,Health insurance will typically cover which of the
following perils? - ....ANSWER...Injury due to accident
How many employees must an employer have for a
terminated employee to be eligible for COBRA? -
....ANSWER...20
An insured under a Major Medical expense plan with a
zero deductible and 80/20 coinsurance provision files a
$1,000 claim. How much of this claim is the insured
responsible for? - ....ANSWER...$200
Medicaid is a government-funded program designed to
provide health care to - ....ANSWER...poor people
A rollover from a Traditional IRA to another IRA MUST
be done within ___ days to avoid tax consequences. -
....ANSWER...60
, Jennifer is required to pay a specific sum out of pocket
before any benefits are paid in a year. Her health policy
most likely contains a(n) - ....ANSWER...deductible
Sharon is the policyowner of a $50,000 life insurance
policy. Her son, Mike, is the beneficiary. If Sharon MUST
obtain Mike's signature in order to change the beneficiary,
what kind of beneficiary designation is this? -
....ANSWER...Irrevocable
What percentage of a participant's income are group long-
term disability benefit amounts typically limited to? -
....ANSWER...60%
Employees are required to work at least _____ hours per
week to become eligible for a small employer health plan -
....ANSWER...20
Which of the following statement is TRUE about
Medicaid? - ....ANSWER...It is funded by federal, state and
local taxes
SIMULATOR 2025/2026 BANK
COMPLETE STUDY GUIDE ACCURATE
REAL EXAM QUESTIONS TESTING
VERSIONS AND A STUDY GUIDE |
EXPERT VERIFIED FOR GUARANTEED
PASS
Maria would like an annuity that provides a guaranteed
accumulation or payout. The type of annuity she is
seeking is called - ....ANSWER...annuity certain
A professional liability for which producers can be sued for
mistakes of putting a policy into effect is called -
....ANSWER...errors and omissions
Which of the following enables a life policy to be replaced
with another life policy and results in the postponement of
the tax consequence? - ....ANSWER...Section 1035
exchange
,When the principal gives the agent authority in writing,
it's referred to as - ....ANSWER...express authority
An HMO that involves a partnership of physicians and
other providers who practice out of a central facility is
called a(n) - ....ANSWER...group HMO
All of the following are core benefits of Medicare
Supplement Plan A EXCEPT - ....ANSWER...Deductible
payments for the first 60 days of hospitalization under
Medicare hospitalization insurance
In New York, a Medicare Supplement policy must be
______ renewable. - ....ANSWER...guaranteed
An agent who sells an individual life insurance policy in
Washington MUST deliver to the policyowner a(n) -
....ANSWER...Policy Summary and Buyer's Guide
The Fair Credit Reporting Act protects consumers -
....ANSWER...with guidelines regarding credit reporting
and distribution
,Health insurance will typically cover which of the
following perils? - ....ANSWER...Injury due to accident
How many employees must an employer have for a
terminated employee to be eligible for COBRA? -
....ANSWER...20
An insured under a Major Medical expense plan with a
zero deductible and 80/20 coinsurance provision files a
$1,000 claim. How much of this claim is the insured
responsible for? - ....ANSWER...$200
Medicaid is a government-funded program designed to
provide health care to - ....ANSWER...poor people
A rollover from a Traditional IRA to another IRA MUST
be done within ___ days to avoid tax consequences. -
....ANSWER...60
, Jennifer is required to pay a specific sum out of pocket
before any benefits are paid in a year. Her health policy
most likely contains a(n) - ....ANSWER...deductible
Sharon is the policyowner of a $50,000 life insurance
policy. Her son, Mike, is the beneficiary. If Sharon MUST
obtain Mike's signature in order to change the beneficiary,
what kind of beneficiary designation is this? -
....ANSWER...Irrevocable
What percentage of a participant's income are group long-
term disability benefit amounts typically limited to? -
....ANSWER...60%
Employees are required to work at least _____ hours per
week to become eligible for a small employer health plan -
....ANSWER...20
Which of the following statement is TRUE about
Medicaid? - ....ANSWER...It is funded by federal, state and
local taxes
