XCEL Final Exam 2025 | Complete Questions and
Correct Answers | Already Graded A+ | Verified
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Typically, Long-Term Disability benefits are coordinated with which benefit plan?
- (ANSWER)Social Security
The focus of major medical insurance is providing coverage for -
(ANSWER)medical and hospitalization expenses
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
because this policy has a zero deductible, the insures is only responsible for the
20% coinsurance on this claim, or $200
An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured
incurs $25,000 of covered losses. How much will the insured pay? -
(ANSWER)$5,000
Which type of plan would be the most appropriate for an individual on Medicare
and concerned that Medicare will NOT pay for charges exceeding the approved
amount? - (ANSWER)Medicare supplement Plan F
,When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)? - (ANSWER)when
contribution or participation rules have been violated
What does the word "level: in Level Term describe? - (ANSWER)the face amount
A non-contributory health insurance plan helps the insurer avoid -
(ANSWER)adverse selection
because all eligible employees are usually covered, non-contributory plans are
desirable from an underwriting standpoint because adverse selection is
minimized.
To qualify for a resident producer license in the state of Michigan, an individual -
(ANSWER)must complete the required pre-licensing education within 12 months
of license application
Under an expense-incurred individual health policy, what is the MAXIMUM length
of time after issuance of the policy that an insurer can exclude coverage for a pre-
existing condition? - (ANSWER)12 months
pre-existing conditions may be excluded for a maximum of 12 months from the
date of enrollment.
,An insured has a health plan that pays established amounts in accordance with a
list of injuries, surgical procedures, or other losses. This list is called a -
(ANSWER)benefit schedule
benefits schedule set predetermined limits or maximums on how much money
and insured can be reimbursed for a covered loss.
Who is the individual paid on a fee-for-service basis? - (ANSWER)Provider
Which of the following is NOT an illegal inducement? - (ANSWER)Giving the
insured an article of merchandise printed with the producer's name costing $5
$5 or less of tokens or merchandise to applicants is allowed.
Making a statement that is false or maliciously critical of the financial condition of
an insurer is known as - (ANSWER)defamation
Which of the following is NOT a required provision in an accident and health
insurance policy? - (ANSWER)change of occupation
the change of occupation provision is considered an OPTIONAL provision
Which of these statements about Medicaid is CORRECT? - (ANSWER)Funded by
federal, sate, and local taxes
, Medicaid is funded by federal, state, and local taxes but is administered by each
state.
All of these are considered key factors in underwriting life insurance EXCEPT -
(ANSWER)Marital Status
Correct: tobacco use, health history, age
The time limit for filing claim disputes is addressed in which provision of an
accident and health policy? - (ANSWER)legal actions
All of the following plans allow for employee contributions to be taken on a pre-
tax basis EXCEPT - (ANSWER)Health reimbursement Arrangement plan
employers contribute to health reimbursement Arrangement planz (HRA's), not
employees.
Which of the following gifts from a producer would NOT be considered rebating? -
(ANSWER)$5 pen
A producer quoting life insurance may give an applicant an article of merchandise
having an invoice value of $5.00 or less.
Correct Answers | Already Graded A+ | Verified
Answers | Just Released
Typically, Long-Term Disability benefits are coordinated with which benefit plan?
- (ANSWER)Social Security
The focus of major medical insurance is providing coverage for -
(ANSWER)medical and hospitalization expenses
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
because this policy has a zero deductible, the insures is only responsible for the
20% coinsurance on this claim, or $200
An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured
incurs $25,000 of covered losses. How much will the insured pay? -
(ANSWER)$5,000
Which type of plan would be the most appropriate for an individual on Medicare
and concerned that Medicare will NOT pay for charges exceeding the approved
amount? - (ANSWER)Medicare supplement Plan F
,When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)? - (ANSWER)when
contribution or participation rules have been violated
What does the word "level: in Level Term describe? - (ANSWER)the face amount
A non-contributory health insurance plan helps the insurer avoid -
(ANSWER)adverse selection
because all eligible employees are usually covered, non-contributory plans are
desirable from an underwriting standpoint because adverse selection is
minimized.
To qualify for a resident producer license in the state of Michigan, an individual -
(ANSWER)must complete the required pre-licensing education within 12 months
of license application
Under an expense-incurred individual health policy, what is the MAXIMUM length
of time after issuance of the policy that an insurer can exclude coverage for a pre-
existing condition? - (ANSWER)12 months
pre-existing conditions may be excluded for a maximum of 12 months from the
date of enrollment.
,An insured has a health plan that pays established amounts in accordance with a
list of injuries, surgical procedures, or other losses. This list is called a -
(ANSWER)benefit schedule
benefits schedule set predetermined limits or maximums on how much money
and insured can be reimbursed for a covered loss.
Who is the individual paid on a fee-for-service basis? - (ANSWER)Provider
Which of the following is NOT an illegal inducement? - (ANSWER)Giving the
insured an article of merchandise printed with the producer's name costing $5
$5 or less of tokens or merchandise to applicants is allowed.
Making a statement that is false or maliciously critical of the financial condition of
an insurer is known as - (ANSWER)defamation
Which of the following is NOT a required provision in an accident and health
insurance policy? - (ANSWER)change of occupation
the change of occupation provision is considered an OPTIONAL provision
Which of these statements about Medicaid is CORRECT? - (ANSWER)Funded by
federal, sate, and local taxes
, Medicaid is funded by federal, state, and local taxes but is administered by each
state.
All of these are considered key factors in underwriting life insurance EXCEPT -
(ANSWER)Marital Status
Correct: tobacco use, health history, age
The time limit for filing claim disputes is addressed in which provision of an
accident and health policy? - (ANSWER)legal actions
All of the following plans allow for employee contributions to be taken on a pre-
tax basis EXCEPT - (ANSWER)Health reimbursement Arrangement plan
employers contribute to health reimbursement Arrangement planz (HRA's), not
employees.
Which of the following gifts from a producer would NOT be considered rebating? -
(ANSWER)$5 pen
A producer quoting life insurance may give an applicant an article of merchandise
having an invoice value of $5.00 or less.
