Xcel Solutions Final Exam (California
Life, Accident, And Health Insurance
Final Exam Q&A)
Who does a life settlement broker represent? ✔️Ans - Individual wanting
to sell their life policy to a third party
What is the insurance term the State of California uses for an insurer that is
eligible to transact business in this state? ✔️Ans - Admitted
Most U.S. life insurance companies belong to the ✔️Ans - Medical
Information Bureau
Which of the following healthcare providers provide both the healthcare
services and healthcare coverage? ✔️Ans - Health Maintenance
Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act
(FMLA)? ✔️Ans - Traveling overseas with a spouse
Which word implies permissiveness according to the California Insurance
Code? ✔️Ans - may
When found in California Insurance Code, the word "may" implies
permissiveness.
Under a long-term care insurance policy, adult day care coverage will provide
for ✔️Ans - part time care at a facility for elderly individuals who live at
home
Major medical expense plans typically use a cost containment measure for
emergency hospital care. This is referred to as a ✔️Ans - Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the
death benefit accumulate and receive only the monthly investment proceeds.
Which settlement option should she choose? ✔️Ans - Interest Option
, Reasonably necessary acts that an agent must perform for carrying out
his/her expressly authorized duties are covered by an agent's ✔️Ans -
Implied authority
Kim is insured under a disability income insurance policy with an "own
occupation" clause. She was recently injured in an automobile accident and
can no longer perform the tasks of her job. Kim is now considered to be
✔️Ans - Totally Disabled
What is a common reason people purchase an annuity ✔️Ans - To protect
against the risk of outliving their financial resources
Why is a life insurance policy's delivery date important? ✔️Ans - The free-
look period begins on the policy delivery date
Periodic increases in policy benefits are allowed in which long-term care
policy provision? ✔️Ans - Inflation Protection
What is the term used to describe the frequency and severity of certain
illnesses and accidents? ✔️Ans - Morbidity
Key person insurance is intended to ✔️Ans - cover business losses due to
death of key employee
Minimum participation standards exist for group health insurance plans in
order to ✔️Ans - prevent adverse selection
Which of the following is NOT included under long-term care insurance?
✔️Ans - Hospital acute care
When calculating life insurance premium rates, which component would an
agent's commission fall under? ✔️Ans - Insurer's expenses
The reason for social insurance is to ✔️Ans - protect certain vulnerable
segments of the population
Jon's health plan pays benefits of 90% for in-network providers and 70% for
out-of-network providers. What kind of plan is this? ✔️Ans - PPO
Life, Accident, And Health Insurance
Final Exam Q&A)
Who does a life settlement broker represent? ✔️Ans - Individual wanting
to sell their life policy to a third party
What is the insurance term the State of California uses for an insurer that is
eligible to transact business in this state? ✔️Ans - Admitted
Most U.S. life insurance companies belong to the ✔️Ans - Medical
Information Bureau
Which of the following healthcare providers provide both the healthcare
services and healthcare coverage? ✔️Ans - Health Maintenance
Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act
(FMLA)? ✔️Ans - Traveling overseas with a spouse
Which word implies permissiveness according to the California Insurance
Code? ✔️Ans - may
When found in California Insurance Code, the word "may" implies
permissiveness.
Under a long-term care insurance policy, adult day care coverage will provide
for ✔️Ans - part time care at a facility for elderly individuals who live at
home
Major medical expense plans typically use a cost containment measure for
emergency hospital care. This is referred to as a ✔️Ans - Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the
death benefit accumulate and receive only the monthly investment proceeds.
Which settlement option should she choose? ✔️Ans - Interest Option
, Reasonably necessary acts that an agent must perform for carrying out
his/her expressly authorized duties are covered by an agent's ✔️Ans -
Implied authority
Kim is insured under a disability income insurance policy with an "own
occupation" clause. She was recently injured in an automobile accident and
can no longer perform the tasks of her job. Kim is now considered to be
✔️Ans - Totally Disabled
What is a common reason people purchase an annuity ✔️Ans - To protect
against the risk of outliving their financial resources
Why is a life insurance policy's delivery date important? ✔️Ans - The free-
look period begins on the policy delivery date
Periodic increases in policy benefits are allowed in which long-term care
policy provision? ✔️Ans - Inflation Protection
What is the term used to describe the frequency and severity of certain
illnesses and accidents? ✔️Ans - Morbidity
Key person insurance is intended to ✔️Ans - cover business losses due to
death of key employee
Minimum participation standards exist for group health insurance plans in
order to ✔️Ans - prevent adverse selection
Which of the following is NOT included under long-term care insurance?
✔️Ans - Hospital acute care
When calculating life insurance premium rates, which component would an
agent's commission fall under? ✔️Ans - Insurer's expenses
The reason for social insurance is to ✔️Ans - protect certain vulnerable
segments of the population
Jon's health plan pays benefits of 90% for in-network providers and 70% for
out-of-network providers. What kind of plan is this? ✔️Ans - PPO
