XCEL Solutions; Virginia 150
Questions Weighted Real Time Exam
with Correct Answers
An accident and Health insurance applicant who fails to includes material medical information
on an application would be reason for the insurer to - <CORRECT ANSWER >>deny any future
claims and to refund the premium
S has a Whole Life Policy with a premium payment due soon. Which provision would keep the
policy in force if S does not make the required payment and the policy has adequate cash value
from which the premium payment can be made? - <CORRECT ANSWER >>Automatic Policy
Loan
In order for coverage on a non-medical insurance application to take effect the same day, the
producer must collect a signed application and - <CORRECT ANSWER >>the initial premium
M has a Major insurance policy with a $200 flat deductible and an 80% Coinsurance clause. If M
incurs a $2,200 claim for an eligible medical expense, how much will M receive in payment for
this claim? - <CORRECT ANSWER >>$1,600
What benefit does the Payor clause on a Juvenile Life policy provide ? - <CORRECT ANSWER
>>Premiums are waived if payor becomes disabled
An agent offers an applicant something of value not mentioned in the contract as an
inducement to purchase an insurance policy. The illegal act is called - <CORRECT ANSWER
>>rebating
If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be
performed in all these situations EXCEPT: - <CORRECT ANSWER >>When the state prohibits this
by law
, Which plan is intended to be used by a sole proprietor and the employees of that business? -
<CORRECT ANSWER >>Keogh Plan
A policy owner's rights are limited under which beneficiary designation? - <CORRECT ANSWER
>>Irrevocable
T circulated false statements that were maliciously critical of an insurer's financial condition. T
may be found guilty of - <CORRECT ANSWER >>Defamation
TheIIphraseII"ThisIIpolicyIIwillIIonlyIIpayIIforIIsemi-privateIIroom"IIisIIanIIexampleIIofIIa(n)II-
II<CORRECTIIANSWERII>>InternalIIlimit
AllIIofIItheIIfollowingIIareIIlimitedIIplans,IIEXCEPT:II-II<CORRECTIIANSWERII>>LifeIIInsuranceIIPolicies
WhichIIofIItheIIfollowingIIdoesIINOTIIqualifyIIasIIaIIcreditableIIcoverageIIunderIItheIIHealthIIInsuranceIIP
ortabilityIIandIIAccountabilityIIActII(HIPAA)?II-II<CORRECTIIANSWERII>>AccidentIIPlans
ForIIwhichIIofIItheIIfollowingIIexpensesIIdoesIIaIIBasicIIHospitalIIpolicyIIpay?II-
II<CORRECTIIANSWERII>>HospitalIIroomIIandIIboard
IfIIanIIagentIIholdsII1IIlicenseIItype,IItheIIbiennialIIcontinuingIIeducationIIrequirementIIisII_____IIhours.I
I-II<CORRECTIIANSWERII>>16IIhrs
WhichIIofIItheIIfollowingIIhealthIIpolicyIIprovisionsIIstateIIthatIItheIIproducerIIdoesIINOTIIhaveIItheIIaut
horityIItoIIchangeIItheIIpolicyIIorIIwaiveIIanyIIofIIitsIIprovisions?II-
II<CORRECTIIANSWERII>>EntireIIContract
WhichIIofIItheIIfollowingIIstatementsIIisIItrueIIaboutIImostIIBlueIICross/BlueIIShieldIIorganizations?II-
II<CORRECTIIANSWERII>>TheyIIareIIaIInonprofitIIorganization
Questions Weighted Real Time Exam
with Correct Answers
An accident and Health insurance applicant who fails to includes material medical information
on an application would be reason for the insurer to - <CORRECT ANSWER >>deny any future
claims and to refund the premium
S has a Whole Life Policy with a premium payment due soon. Which provision would keep the
policy in force if S does not make the required payment and the policy has adequate cash value
from which the premium payment can be made? - <CORRECT ANSWER >>Automatic Policy
Loan
In order for coverage on a non-medical insurance application to take effect the same day, the
producer must collect a signed application and - <CORRECT ANSWER >>the initial premium
M has a Major insurance policy with a $200 flat deductible and an 80% Coinsurance clause. If M
incurs a $2,200 claim for an eligible medical expense, how much will M receive in payment for
this claim? - <CORRECT ANSWER >>$1,600
What benefit does the Payor clause on a Juvenile Life policy provide ? - <CORRECT ANSWER
>>Premiums are waived if payor becomes disabled
An agent offers an applicant something of value not mentioned in the contract as an
inducement to purchase an insurance policy. The illegal act is called - <CORRECT ANSWER
>>rebating
If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be
performed in all these situations EXCEPT: - <CORRECT ANSWER >>When the state prohibits this
by law
, Which plan is intended to be used by a sole proprietor and the employees of that business? -
<CORRECT ANSWER >>Keogh Plan
A policy owner's rights are limited under which beneficiary designation? - <CORRECT ANSWER
>>Irrevocable
T circulated false statements that were maliciously critical of an insurer's financial condition. T
may be found guilty of - <CORRECT ANSWER >>Defamation
TheIIphraseII"ThisIIpolicyIIwillIIonlyIIpayIIforIIsemi-privateIIroom"IIisIIanIIexampleIIofIIa(n)II-
II<CORRECTIIANSWERII>>InternalIIlimit
AllIIofIItheIIfollowingIIareIIlimitedIIplans,IIEXCEPT:II-II<CORRECTIIANSWERII>>LifeIIInsuranceIIPolicies
WhichIIofIItheIIfollowingIIdoesIINOTIIqualifyIIasIIaIIcreditableIIcoverageIIunderIItheIIHealthIIInsuranceIIP
ortabilityIIandIIAccountabilityIIActII(HIPAA)?II-II<CORRECTIIANSWERII>>AccidentIIPlans
ForIIwhichIIofIItheIIfollowingIIexpensesIIdoesIIaIIBasicIIHospitalIIpolicyIIpay?II-
II<CORRECTIIANSWERII>>HospitalIIroomIIandIIboard
IfIIanIIagentIIholdsII1IIlicenseIItype,IItheIIbiennialIIcontinuingIIeducationIIrequirementIIisII_____IIhours.I
I-II<CORRECTIIANSWERII>>16IIhrs
WhichIIofIItheIIfollowingIIhealthIIpolicyIIprovisionsIIstateIIthatIItheIIproducerIIdoesIINOTIIhaveIItheIIaut
horityIItoIIchangeIItheIIpolicyIIorIIwaiveIIanyIIofIIitsIIprovisions?II-
II<CORRECTIIANSWERII>>EntireIIContract
WhichIIofIItheIIfollowingIIstatementsIIisIItrueIIaboutIImostIIBlueIICross/BlueIIShieldIIorganizations?II-
II<CORRECTIIANSWERII>>TheyIIareIIaIInonprofitIIorganization
