Xcel comprehensive of life and health
insurance Final Exam_ 2022/2032.
Typically, Long-Term Disability benefits are coordinated with which benefit
plan?
The focus of major medical insurance is providing coverage for
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?
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?
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?
When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)?
What does the word "level: in Level Term describe?
A non-contributory health insurance plan helps the insurer avoid
To qualify for a resident producer license in the state of Michigan, an
individual
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?
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 Who is the individual paid on a fee-for-service basis?
Which of the following is NOT an illegal inducement?
Making a statement that is false or maliciously critical of the financial
condition of an insurer is known as
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
,Which of the following is NOT a required provision in an accident and health
insurance policy? the change of occupation provision is considered an
OPTIONAL provision
Which of these statements about Medicaid is CORRECT?
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
The time limit for filing claim disputes is addressed in which provision of an
accident and health policy?
All of the following plans allow for employee contributions to be taken on a
pre-tax basis
EXCEPT
employers contribute to health reimbursement Arrangement planz (HRA's),
not employees.
Which of the following gifts from a producer would NOT be considered
rebating?
Written notice for a health claim must be given to the insurer ___ days after
the occurrence of the loss.
Chris is an insured bricklayer who severed his left hand in an automobile
accident. Although his primary duty cannot be performed, Chris is also a
substitute high school teacher. He collects a full disability income check
every month. How does his policy define total disability?
Which approach predicts a person's earning potential and determines how
much of that amount would be devoted to dependents?
Index whole life insurance contains a securities component that acts as a(n)
Phil is shopping for an annuity that guarantees he CANNOT outlive the
benefits. Which of these benefit options would he choose?
Which of these factors would an insurer consider when determining whether
to accept a group life plan?
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
, This MANDATORY health policy provision states that the policy, including
endorsements and attached papers, constitutes
The monthly benefit for an individual disability income policy is usually
limited to a percentage of the insured's income in order to avoid >Correct
Answer< over insurance
When an insurance licensee changes his or her address under the Michigan
Insurance Code, who MUST be notified?
Jonas is a whole life insurance policyowner and would like to add coverage
for his two children.
Which of the following products would allow him to accomplish this?
The typical long-term care insurance policy is designed to provide a
minimum of __ year(s) of coverage.
How many employees must an employer have for a terminated employee to
be eligible for
COBRA?
Which of the following policies does NOT build cash value?
Which type of annuity stops all payments upon the death of the annuitant?
Under the subrogation clause, legal action can be taken by the insurer
against the
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered
Coordination of Benefits regulation applies to all of the following plans
EXCEPT
A spouse and child can be added to the primary insured's coverage as what
kind of rider?
Amy has a group medical policy through her employer with a $500
deductible and a 90% coinsurance provision. She incurs $1,500 in covered
health care services. How much will her group insurance carrier pay?
In order to save on premiums, a Life Insurance policy can legally be
backdated up to
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
insurance Final Exam_ 2022/2032.
Typically, Long-Term Disability benefits are coordinated with which benefit
plan?
The focus of major medical insurance is providing coverage for
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?
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?
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?
When can a group health policy renewal be denied according to the Health
Insurance Portability and Accountability Act (HIPAA)?
What does the word "level: in Level Term describe?
A non-contributory health insurance plan helps the insurer avoid
To qualify for a resident producer license in the state of Michigan, an
individual
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?
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 Who is the individual paid on a fee-for-service basis?
Which of the following is NOT an illegal inducement?
Making a statement that is false or maliciously critical of the financial
condition of an insurer is known as
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
,Which of the following is NOT a required provision in an accident and health
insurance policy? the change of occupation provision is considered an
OPTIONAL provision
Which of these statements about Medicaid is CORRECT?
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
The time limit for filing claim disputes is addressed in which provision of an
accident and health policy?
All of the following plans allow for employee contributions to be taken on a
pre-tax basis
EXCEPT
employers contribute to health reimbursement Arrangement planz (HRA's),
not employees.
Which of the following gifts from a producer would NOT be considered
rebating?
Written notice for a health claim must be given to the insurer ___ days after
the occurrence of the loss.
Chris is an insured bricklayer who severed his left hand in an automobile
accident. Although his primary duty cannot be performed, Chris is also a
substitute high school teacher. He collects a full disability income check
every month. How does his policy define total disability?
Which approach predicts a person's earning potential and determines how
much of that amount would be devoted to dependents?
Index whole life insurance contains a securities component that acts as a(n)
Phil is shopping for an annuity that guarantees he CANNOT outlive the
benefits. Which of these benefit options would he choose?
Which of these factors would an insurer consider when determining whether
to accept a group life plan?
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
, This MANDATORY health policy provision states that the policy, including
endorsements and attached papers, constitutes
The monthly benefit for an individual disability income policy is usually
limited to a percentage of the insured's income in order to avoid >Correct
Answer< over insurance
When an insurance licensee changes his or her address under the Michigan
Insurance Code, who MUST be notified?
Jonas is a whole life insurance policyowner and would like to add coverage
for his two children.
Which of the following products would allow him to accomplish this?
The typical long-term care insurance policy is designed to provide a
minimum of __ year(s) of coverage.
How many employees must an employer have for a terminated employee to
be eligible for
COBRA?
Which of the following policies does NOT build cash value?
Which type of annuity stops all payments upon the death of the annuitant?
Under the subrogation clause, legal action can be taken by the insurer
against the
Disability Income plans which require that the insurer can NEVER change or
alter premium rates are usually considered
Coordination of Benefits regulation applies to all of the following plans
EXCEPT
A spouse and child can be added to the primary insured's coverage as what
kind of rider?
Amy has a group medical policy through her employer with a $500
deductible and a 90% coinsurance provision. She incurs $1,500 in covered
health care services. How much will her group insurance carrier pay?
In order to save on premiums, a Life Insurance policy can legally be
backdated up to
Xcel comprehensive of life and health insurance Final Exam 2022-2032.
