XCEL LIFE INSURANCE EXAM | QUESTIONS AND ANSWERS |
VERIFIED ANSWERS GRADED A+ | LATEST EXAM
Replacement regulation is designed to protect - CORRECT ANSWER -
Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide -
CORRECT ANSWER - Preventative health services
Which of these will have the highest monthly payout upon annuitization -
CORRECT ANSWER - Straight life
Which of the following is included in the entire contract according ti the entire
contract provison? - CORRECT ANSWER - Clauses
Which of the following is considered to be an alternative to a life settlement? -
CORRECT ANSWER - Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT
ANSWER - Benefits are limited to a specific maximum dollar amount per
procedure
Coordination of benefits regulation applies to all of the following plans
EXCEPT - CORRECT ANSWER - Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much
of that amount would be devoted to dependents? - CORRECT ANSWER -
Human life value approach
,Which of the following policies does NOT build cash value? - CORRECT
ANSWER - Term
Which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death? - CORRECT
ANSWER - Human life value
The free look period provided in a life insurance policy is usually - CORRECT
ANSWER - 10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER - Small
Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is
known as a(n) - CORRECT ANSWER - master policy
Which of the following is NOT covered under Workers' Compensation? -
CORRECT ANSWER - Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT
ANSWER - Private insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER - association
which maintains a facility that displays offers and counteroffers for purchasers
or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will
return to a beneficiary the difference between the annunity value and the income
payment already made? - CORRECT ANSWER - Refund annuity
, The is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant. - CORRECT ANSWER - Agent
The purpose of the Coordination of Benefits provision in group accident and
health plans is to - CORRECT ANSWER - avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER - poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights
to secure a loan is called a(n) - CORRECT ANSWER - collateral assignment
A disability policy where the premiums are due monthly require a grace period
of - CORRECT ANSWER - 10 days
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 - CORRECT ANSWER - twisting
Which type of annuity stops all payments upon the death of the annuitant? -
CORRECT ANSWER - Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER -
provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured? - CORRECT ANSWER - Specified amount of money
Major medical insurance will typically cover medical expenses that result from
- CORRECT ANSWER - a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - CORRECT ANSWER - 1
VERIFIED ANSWERS GRADED A+ | LATEST EXAM
Replacement regulation is designed to protect - CORRECT ANSWER -
Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide -
CORRECT ANSWER - Preventative health services
Which of these will have the highest monthly payout upon annuitization -
CORRECT ANSWER - Straight life
Which of the following is included in the entire contract according ti the entire
contract provison? - CORRECT ANSWER - Clauses
Which of the following is considered to be an alternative to a life settlement? -
CORRECT ANSWER - Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - CORRECT
ANSWER - Benefits are limited to a specific maximum dollar amount per
procedure
Coordination of benefits regulation applies to all of the following plans
EXCEPT - CORRECT ANSWER - Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much
of that amount would be devoted to dependents? - CORRECT ANSWER -
Human life value approach
,Which of the following policies does NOT build cash value? - CORRECT
ANSWER - Term
Which of these is a method of determining the level of funds required for
ongoing support in the event of the breadwinner's death? - CORRECT
ANSWER - Human life value
The free look period provided in a life insurance policy is usually - CORRECT
ANSWER - 10 days
What does "SHOP" stand in SHOP Exchange? - CORRECT ANSWER - Small
Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is
known as a(n) - CORRECT ANSWER - master policy
Which of the following is NOT covered under Workers' Compensation? -
CORRECT ANSWER - Pain and suffering
Which of the following provides Medicare supplement policies? - CORRECT
ANSWER - Private insurance companies
A life settlement intermediary is a(n) - CORRECT ANSWER - association
which maintains a facility that displays offers and counteroffers for purchasers
or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will
return to a beneficiary the difference between the annunity value and the income
payment already made? - CORRECT ANSWER - Refund annuity
, The is responsible for determining the appropriateness of a Medicare
Supplement policy for an applicant. - CORRECT ANSWER - Agent
The purpose of the Coordination of Benefits provision in group accident and
health plans is to - CORRECT ANSWER - avoid overpayment of claims
Medicaid is intended for - CORRECT ANSWER - poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights
to secure a loan is called a(n) - CORRECT ANSWER - collateral assignment
A disability policy where the premiums are due monthly require a grace period
of - CORRECT ANSWER - 10 days
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 - CORRECT ANSWER - twisting
Which type of annuity stops all payments upon the death of the annuitant? -
CORRECT ANSWER - Life annuity
Decreasing term life insurance is often used to - CORRECT ANSWER -
provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the
death of the insured? - CORRECT ANSWER - Specified amount of money
Major medical insurance will typically cover medical expenses that result from
- CORRECT ANSWER - a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage - CORRECT ANSWER - 1
