XCEL FLORIDA LIFE AND HEALTH EXAM SIMULATOR
COMPLETE QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: T and S are name co-primary beneficiaries on a
$500,000 accidental death and dismemberment policy insuring their
father. Their mother was named contingent beneficiary. Five years
later, S dies of natural causes and the father is killed in scuba
accident shortly afterwords. How much of the death benefits will
the mother receive?
Answer:
$0
Question 2: Which of the following provisions specified how long a
policyowner's health coverage will remain in effect if the
policyowner does not pay the premium when it is due?
Answer:
Grace Period
Question 3: A potential client age 40 would like to purchase a whole
life policy that will accumulate cash value at faster rate in the early
years of the policy. Which of these Statemants made by the
producer would be correct?
Answer:
20-Pay Life accumulates cash value faster than Straight Life
,Question 4: According to Florida law, in which of the following
situations would a dependent handicapped child NOT be covered
under family health policy?
Answer:
The premiums for the handicapped child are not paid
Question 5: How long does the coverage normally remain on
limited-pay life policy?
Answer:
Age 100
Question 6: Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?
Answer:
Inspection report
Question 7: How does group insurance differ from individual
insurance?
Answer:
Premiums are lower
Question 8: An Insurance company Incorporated under the law of
the state in which its home office is located is called an —-
company?
Answer:
Domestic
,Question 9: J would like to maintain the right to change
beneficiaries. which beneficiary designation would be used?
Answer:
Revocable
Question 10: When does a life insurance contract becomes
effective if the initial premium is not collected during the
application process?
Answer:
When producer delivers policy and collect initial premium
Question 11: A Variable insurance policy?
Answer:
It does not guarantee a return on investment accounts
Question 12: Which of these life insurance riders allows the
applicants to have excess coverage?
Answer:
Turn rider
Question 13: S files written proof of loss for a disability income
claim on September 1. The insurance company did not respond to
the claim. S can take legal action against the insurer beginning?
Answer:
, November 1. (must wait 60 days after the written proof)
Question 14: P is a new employee and will be obtaining
non-contributory group major medical insurance from her
employer. Which of the following actions must be taken during the
open enrollment period?
Answer:
Sign an enrollment card
Question 15: What is the required minimum percentage of
employee participating for non-contributory group health insurance
plan according to Florida law?
Answer:
0%
Question 16: Under an individual disability policy in Florida, what is
the minimum schedule of time in which claim must be made to an
insurance?
Answer:
Monthly
Question 17: A physician open up a new practice and qualifies for
$7000 month disability income policy. What rider would the
physician add if he wants the ability to increase his policy benefits
as his practice and income grow?
Answer:
COMPLETE QUESTIONS AND DETAILED SOLUTIONS LATEST UPDATE
JUST RELEASED
Question 1: T and S are name co-primary beneficiaries on a
$500,000 accidental death and dismemberment policy insuring their
father. Their mother was named contingent beneficiary. Five years
later, S dies of natural causes and the father is killed in scuba
accident shortly afterwords. How much of the death benefits will
the mother receive?
Answer:
$0
Question 2: Which of the following provisions specified how long a
policyowner's health coverage will remain in effect if the
policyowner does not pay the premium when it is due?
Answer:
Grace Period
Question 3: A potential client age 40 would like to purchase a whole
life policy that will accumulate cash value at faster rate in the early
years of the policy. Which of these Statemants made by the
producer would be correct?
Answer:
20-Pay Life accumulates cash value faster than Straight Life
,Question 4: According to Florida law, in which of the following
situations would a dependent handicapped child NOT be covered
under family health policy?
Answer:
The premiums for the handicapped child are not paid
Question 5: How long does the coverage normally remain on
limited-pay life policy?
Answer:
Age 100
Question 6: Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?
Answer:
Inspection report
Question 7: How does group insurance differ from individual
insurance?
Answer:
Premiums are lower
Question 8: An Insurance company Incorporated under the law of
the state in which its home office is located is called an —-
company?
Answer:
Domestic
,Question 9: J would like to maintain the right to change
beneficiaries. which beneficiary designation would be used?
Answer:
Revocable
Question 10: When does a life insurance contract becomes
effective if the initial premium is not collected during the
application process?
Answer:
When producer delivers policy and collect initial premium
Question 11: A Variable insurance policy?
Answer:
It does not guarantee a return on investment accounts
Question 12: Which of these life insurance riders allows the
applicants to have excess coverage?
Answer:
Turn rider
Question 13: S files written proof of loss for a disability income
claim on September 1. The insurance company did not respond to
the claim. S can take legal action against the insurer beginning?
Answer:
, November 1. (must wait 60 days after the written proof)
Question 14: P is a new employee and will be obtaining
non-contributory group major medical insurance from her
employer. Which of the following actions must be taken during the
open enrollment period?
Answer:
Sign an enrollment card
Question 15: What is the required minimum percentage of
employee participating for non-contributory group health insurance
plan according to Florida law?
Answer:
0%
Question 16: Under an individual disability policy in Florida, what is
the minimum schedule of time in which claim must be made to an
insurance?
Answer:
Monthly
Question 17: A physician open up a new practice and qualifies for
$7000 month disability income policy. What rider would the
physician add if he wants the ability to increase his policy benefits
as his practice and income grow?
Answer:
