Xcel Life Insurance Exam Actual
Test | Questions and right
answers | Latest version
2024/2025
Replacement regulation is designed to protect - ANSWER -Policyowners from mirepresentation and
loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - ANSWER -Preventative health
services
Which of these will have the highest monthly payout upon annuitization - ANSWER -Straight life
Which of the following is included in the entire contract according ti the entire contract provison? -
ANSWER -Clauses
Which of the following is considered to be an alternative to a life settlement? - ANSWER -Accelered
death benefit rider
With a scheduled dental policy, how are covered expense paid? - ANSWER -Benefits are limited to a
specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT - 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? - ANSWER -Human life value approach
Which of the following policies does NOT build cash value? - 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? - ANSWER -Human life value
The free look period provided in a life insurance policy is usually - ANSWER -10 days
What does "SHOP" stand in SHOP Exchange? - ANSWER -Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
ANSWER -master policy
Which of the following is NOT covered under Workers' Compensation? - ANSWER -Pain and suffering
Which of the following provides Medicare supplement policies? - ANSWER -Private insurance
companies
A life settlement intermediary is a(n) - 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? - ANSWER -
Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy for an
applicant. - ANSWER -Agent
The purpose of the Coordination of Benefits provision in group accident and health plans is to -
ANSWER -avoid overpayment of claims
Medicaid is intended for - ANSWER -poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - ANSWER -collateral assignment
A disability policy where the premiums are due monthly require a grace period of - 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 - ANSWER -twisting
Which type of annuity stops all payments upon the death of the annuitant? - ANSWER -Life annuity
Decreasing term life insurance is often used to - ANSWER -provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured?
- ANSWER -Specified amount of money
Major medical insurance will typically cover medical expenses that result from - 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 - ANSWER -1
The double indemnity provision in a life insurance policy pertains to an insured's death caused by
a(n) - ANSWER -accident
Life insurance policies will normally pay for losses arising from - ANSWER -commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be found in
which document? - ANSWER -Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who requires
speech therapy administered at her home? - ANSWER -Home health care
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2 years, starting
from the date of the injury. What is this time period called? - ANSWER -Benefit period
Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status?
- ANSWER -The insurer significantly raises co-insurance charges, deductibles, or co-payment charges
Which of these statements about Medicaid is CORRECT? - ANSWER -Funded by federal, state, and
local taxes
In group health care, what is the purpose of the coordination of benefits provision? - ANSWER -
Determines what is paid by the primary and secondary insurers in the event of a claim
Test | Questions and right
answers | Latest version
2024/2025
Replacement regulation is designed to protect - ANSWER -Policyowners from mirepresentation and
loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - ANSWER -Preventative health
services
Which of these will have the highest monthly payout upon annuitization - ANSWER -Straight life
Which of the following is included in the entire contract according ti the entire contract provison? -
ANSWER -Clauses
Which of the following is considered to be an alternative to a life settlement? - ANSWER -Accelered
death benefit rider
With a scheduled dental policy, how are covered expense paid? - ANSWER -Benefits are limited to a
specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT - 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? - ANSWER -Human life value approach
Which of the following policies does NOT build cash value? - 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? - ANSWER -Human life value
The free look period provided in a life insurance policy is usually - ANSWER -10 days
What does "SHOP" stand in SHOP Exchange? - ANSWER -Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
ANSWER -master policy
Which of the following is NOT covered under Workers' Compensation? - ANSWER -Pain and suffering
Which of the following provides Medicare supplement policies? - ANSWER -Private insurance
companies
A life settlement intermediary is a(n) - 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? - ANSWER -
Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy for an
applicant. - ANSWER -Agent
The purpose of the Coordination of Benefits provision in group accident and health plans is to -
ANSWER -avoid overpayment of claims
Medicaid is intended for - ANSWER -poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - ANSWER -collateral assignment
A disability policy where the premiums are due monthly require a grace period of - 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 - ANSWER -twisting
Which type of annuity stops all payments upon the death of the annuitant? - ANSWER -Life annuity
Decreasing term life insurance is often used to - ANSWER -provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured?
- ANSWER -Specified amount of money
Major medical insurance will typically cover medical expenses that result from - 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 - ANSWER -1
The double indemnity provision in a life insurance policy pertains to an insured's death caused by
a(n) - ANSWER -accident
Life insurance policies will normally pay for losses arising from - ANSWER -commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be found in
which document? - ANSWER -Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who requires
speech therapy administered at her home? - ANSWER -Home health care
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2 years, starting
from the date of the injury. What is this time period called? - ANSWER -Benefit period
Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status?
- ANSWER -The insurer significantly raises co-insurance charges, deductibles, or co-payment charges
Which of these statements about Medicaid is CORRECT? - ANSWER -Funded by federal, state, and
local taxes
In group health care, what is the purpose of the coordination of benefits provision? - ANSWER -
Determines what is paid by the primary and secondary insurers in the event of a claim
