Xcel Testing Solutions exam 2023 with 100% correct answers

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called cancelable The renewability provision in a cancelable policy allows the insurer to cancel or terminate the policy at any time, simply by providing written notification to the insured and refunding any advance premium that has been paid. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered Noncancellable A noncancellable policy cannot be cancelled nor can its premium rates be increased under any circumstances. In what part of an insurance policy are policy benefits found? Declarations Essentially, the insurance declaration page is like a quick guide to the insurance policy, providing all of the basic information the policyholder needs to know. What happens if the insurer discovers that the insured's age was accidentally misstated on an application for an individual life insurance policy? Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age. Health insurance will typically cover which of the following perils? Injury due to accident Accidental injury is typically a covered peril in health insurance. A viatical settlement contract is an agreement between A life insurance policyowner and a viatical settlement provider A viatical settlement contract is an agreement between a life insurance policyowner and a viatical settlement provider. Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? The insurer significantly raises co-insurance charges, deductibles, or co-payment charges According to the Affordable Care Act, grandfathered health plans may lose their grandfathered status if the insurer significantly raises co-insurance charges, deductibles, or co-payment charges Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks. Which of the following nursing home options would BEST suit an individual who needs some nursing care and supervision but NOT full-time care? Assisted living facilities An assisted living facility would best suit an individual who needs some nursing care and supervision but not full-time care. Under Louisiana law, the agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is defined as an appointment The agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is called an appointment.