XCEL LIFE INSURANCE EXAM WITH VERIFIED
QUESTIONS AND ANSWERS LATEST UPDATED
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 - twisting
Which type of annuity stops all payments upon the death of the annuitant? - Life annuity
Decreasing term life insurance is often used to - provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Specified amount of money
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - collateral assignment
A disability policy where the premiums are due monthly require a grace period of - 10
days
Major medical insurance will typically cover medical expenses that result from - a
negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - 1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - accident
Life insurance policies will normally pay for losses arising from - commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be
found in which document? - Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home? - Home health care
, A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? - Benefit
period
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
Which of these statements about Medicaid is CORRECT? - Funded by federal, state,
and local taxes
In group health care, what is the purpose of the coordination of benefits provision? -
Determines what is paid by the primary and secondary insurers in the event of a claim
Which of the following is NOT a duty of the Superintendent? - Establish rates for the
insurers
What is the purpose of a Disability Income Benefit? - Provide money for living expenses
All of these are characteristics of a universal life insurance policy EXCEPT - Fixed
surrender value
Upon meeting company requirements, a lapsed life insurance policy may be reinstated
within_______ year(s). - 3
with the same insurer Tim is covered under a group plan and would like to change his
group coverage to an individual policy because of employment termination. Which of
these describes the change that will take place? - Conversion
When are group disability benefits considered to be tax-free to the insured? - When the
recipient pays the premiums
Replacement regulation is designed to protect - Policyowners from mirepresentation
and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Preventative health
services
Which of these will have the highest monthly payout upon annuitization - Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Clauses
QUESTIONS AND ANSWERS LATEST UPDATED
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 - twisting
Which type of annuity stops all payments upon the death of the annuitant? - Life annuity
Decreasing term life insurance is often used to - provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Specified amount of money
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - collateral assignment
A disability policy where the premiums are due monthly require a grace period of - 10
days
Major medical insurance will typically cover medical expenses that result from - a
negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - 1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - accident
Life insurance policies will normally pay for losses arising from - commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be
found in which document? - Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home? - Home health care
, A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? - Benefit
period
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status? - The insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
Which of these statements about Medicaid is CORRECT? - Funded by federal, state,
and local taxes
In group health care, what is the purpose of the coordination of benefits provision? -
Determines what is paid by the primary and secondary insurers in the event of a claim
Which of the following is NOT a duty of the Superintendent? - Establish rates for the
insurers
What is the purpose of a Disability Income Benefit? - Provide money for living expenses
All of these are characteristics of a universal life insurance policy EXCEPT - Fixed
surrender value
Upon meeting company requirements, a lapsed life insurance policy may be reinstated
within_______ year(s). - 3
with the same insurer Tim is covered under a group plan and would like to change his
group coverage to an individual policy because of employment termination. Which of
these describes the change that will take place? - Conversion
When are group disability benefits considered to be tax-free to the insured? - When the
recipient pays the premiums
Replacement regulation is designed to protect - Policyowners from mirepresentation
and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Preventative health
services
Which of these will have the highest monthly payout upon annuitization - Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Clauses
