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XCEL EXAM SIMULATOR FL
BRAND NEW OFFICIAL
QUESTIONS WITH ANSWERS.
what does medicare Parts A and B cover? - correct answer -Part
A covers hospitalization; Part B covers doctor's services
An underwriter determines that an applicant's risk should be
recategorized due to a health issue. This policy may be issued
with a(n) - correct answer -exclusion for the medical condition
Which statement is TRUE regarding a group accident & health
policy issued to an employer?
-neither the employer or employee are policyowners
-the employer is issued a certificate of coverage and each
employee receives a policy
-the employer receives the policy and each employee is issued a
certificate
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-both the employer and employee are policyowners - correct
answer -the employer receives the policy and each employee is
issued a certificate
Which of the following is NOT required in the outline of coverage
for a health insurance policy?
-explanation of the policy's benefits
-listing of the policy's exclusions and limitations
-projection of the policy's future costs
-explanation of the policy's renewal and cancellation provisions -
correct answer -projection of the policy's future costs
Which of the following best describes a contingent beneficiary?
-person designated by the insured to receive policy proceeds in
the event that the primary beneficiary dies before the insured
-person designated by the primary beneficiary's executor to
receive policy proceeds
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-person designated by the state to receive policy proceeds in the
event that the primary beneficiary dies
-person designated by the insurance company to receive policy
proceeds in the event that the primary beneficiary dies - correct
answer -person designated by the insured to receive policy
proceeds in the event that the primary beneficiary dies before the
insured
What is the excise tax rate the IRS imposes on individuals aged
70 1/2 or older who do not take the required minimum
distributions from their qualified retirement plan? - correct answer
-50%
distributions must be made by April 1 following the year the
participant turns age 70 1/2 or a 50% excise tax will be assessed
on the amount that should have been withdrawn
A physician opens up a new practice and qualifies for a
$7,000/month Disability Income policy. What rider would the
physician add if he wants the ability to increase his policy benefit
as his practice and income grow? - correct answer -Guaranteed
insurability option rider
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K becomes ill after traveling overseas and is unable to work for 3
months. What kind of policy would cover her loss of income? -
correct answer -Disability income
Which of the following phrases refers to the fees charged by a
healthcare professional?
-deductible
-coinsurance
-usual, customary, and reasonable expenses
-hospital expenses - correct answer -usual, customary, and
reasonable expenses
Which of the following statements BEST describes dental care
indemnity coverage?
-services are reimbursed before the insurer receives the invoice
-services are reimbursed after insurer receives the invoice
-in-network dentists must always be used
XCEL EXAM SIMULATOR FL
BRAND NEW OFFICIAL
QUESTIONS WITH ANSWERS.
what does medicare Parts A and B cover? - correct answer -Part
A covers hospitalization; Part B covers doctor's services
An underwriter determines that an applicant's risk should be
recategorized due to a health issue. This policy may be issued
with a(n) - correct answer -exclusion for the medical condition
Which statement is TRUE regarding a group accident & health
policy issued to an employer?
-neither the employer or employee are policyowners
-the employer is issued a certificate of coverage and each
employee receives a policy
-the employer receives the policy and each employee is issued a
certificate
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-both the employer and employee are policyowners - correct
answer -the employer receives the policy and each employee is
issued a certificate
Which of the following is NOT required in the outline of coverage
for a health insurance policy?
-explanation of the policy's benefits
-listing of the policy's exclusions and limitations
-projection of the policy's future costs
-explanation of the policy's renewal and cancellation provisions -
correct answer -projection of the policy's future costs
Which of the following best describes a contingent beneficiary?
-person designated by the insured to receive policy proceeds in
the event that the primary beneficiary dies before the insured
-person designated by the primary beneficiary's executor to
receive policy proceeds
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-person designated by the state to receive policy proceeds in the
event that the primary beneficiary dies
-person designated by the insurance company to receive policy
proceeds in the event that the primary beneficiary dies - correct
answer -person designated by the insured to receive policy
proceeds in the event that the primary beneficiary dies before the
insured
What is the excise tax rate the IRS imposes on individuals aged
70 1/2 or older who do not take the required minimum
distributions from their qualified retirement plan? - correct answer
-50%
distributions must be made by April 1 following the year the
participant turns age 70 1/2 or a 50% excise tax will be assessed
on the amount that should have been withdrawn
A physician opens up a new practice and qualifies for a
$7,000/month Disability Income policy. What rider would the
physician add if he wants the ability to increase his policy benefit
as his practice and income grow? - correct answer -Guaranteed
insurability option rider
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K becomes ill after traveling overseas and is unable to work for 3
months. What kind of policy would cover her loss of income? -
correct answer -Disability income
Which of the following phrases refers to the fees charged by a
healthcare professional?
-deductible
-coinsurance
-usual, customary, and reasonable expenses
-hospital expenses - correct answer -usual, customary, and
reasonable expenses
Which of the following statements BEST describes dental care
indemnity coverage?
-services are reimbursed before the insurer receives the invoice
-services are reimbursed after insurer receives the invoice
-in-network dentists must always be used
