Final Exam XCEL VA
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1. The free-look period for a new Medicare Supple- 30 days
ment policy is
2. Al surrenders his life insurance policy for its cash cost basis
value. The total of the premiums paid into the pol-
icy minus total dividends received in cash or used
to offset premiums is referred to as the
3. All of these are duties that a producer may be re- leave a conditional receipt with
quired to perform when delivering an insurance client
policy EXCEPT
4. which of these would likely be considered an Unfair offering settlements that are
Claims Settlement practice? less than the fair value to offset
insurer expenses
5. Kelly purchases a health insurance policy issued specific reasons stated in the
on a conditionally renewable basis. The insurance contract
company has a right to refuse renewal of the policy
for
6. The automatic premium loan provision can be ac- provision that provides a policy
curately described as a loan to pay any premiums by
the end of the grace period
7. An insured files for an accident and health insur- $300
ance policy claim eight days after the premium due
date. The benefit payable is $500 and the overdue
premium is $200.
Assuming that the policy pays on a first-dollar basis
and contains the unpaid premium provision, how
much will the insurer pay?
, Final Exam XCEL VA
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8. What effect can a long-term care benefit rider have reduced death benefit
on a life insurance policy
9. Jerome is covered by a disability income policy that nonoccupational coverage
does NOT provide benefits for losses occurring as
the result of his employment. What kind of cover-
age is this?
10. insurable Interest in one's own life is legally consid- generally unlimited
ered as
11. under what circumstance does an accident and when not prohibited by state
health insurer have the right to request an autopsy law
12. The pre-existing conditions exclusion under a small may be partially or fully satis-
employer medical plan fied by having creditable cov-
erage with a previous employ-
er
13. major medical plans typically exclude coverage for custodial care
which of the following benefits
14. An employee welfare plan exempt from ERISA reg- church plans
ulations would be
15. which of the following is not an intended use of an Create new funds upon the
annuity death of a wage-earner
16. Which of these statements about traditional indi- 10% penalty is applied to with-
vidual retirement accounts is accurate? drawals prior to age 59 1/2
17. The reason for backdating a policy is to obtain a premium rate
based on an earlier age
, Final Exam XCEL VA
Study online at https://quizlet.com/_9yw6yx
18. in a disability income contract, an insured is consid- loses the ability to speak
ered to be totally disabled under the presumptive
disability provision if he/she
19. Dan has a major medical expense policy with a $240
$200 deductible and an 80/20 coinsurance provi-
sion. He incurs covered medical expenses of $100
in November and $400 in January. Under the carry-
over provision, what will the insurer pay?
20. a prepaid dental plan has an agreement in place accepts an established amount
with a network of dentists which as payment in full for the den-
tal service rendered
21. which of the following best describes the presump- waives the typical total disabil-
tive disability provision? ity requirements
22. if an existing medicare supplement policy is being agent and applicant
replaced by a new policy, who is required to sign
the notice of replacement
23. the insurance coverage in a variable life insurance its underlying investments
policy may vary based on the value of
24. After an insurance application has been originated, is the major personal contact
the producer normally to the insured
25. a policyowner has a life insurance policy where she less than the face amount
had listed her age on the application as 5 years
younger than her actual age. If she dies and the
insurer discovers the misstatement of age, how
much will the insurance company pay?
26.
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1. The free-look period for a new Medicare Supple- 30 days
ment policy is
2. Al surrenders his life insurance policy for its cash cost basis
value. The total of the premiums paid into the pol-
icy minus total dividends received in cash or used
to offset premiums is referred to as the
3. All of these are duties that a producer may be re- leave a conditional receipt with
quired to perform when delivering an insurance client
policy EXCEPT
4. which of these would likely be considered an Unfair offering settlements that are
Claims Settlement practice? less than the fair value to offset
insurer expenses
5. Kelly purchases a health insurance policy issued specific reasons stated in the
on a conditionally renewable basis. The insurance contract
company has a right to refuse renewal of the policy
for
6. The automatic premium loan provision can be ac- provision that provides a policy
curately described as a loan to pay any premiums by
the end of the grace period
7. An insured files for an accident and health insur- $300
ance policy claim eight days after the premium due
date. The benefit payable is $500 and the overdue
premium is $200.
Assuming that the policy pays on a first-dollar basis
and contains the unpaid premium provision, how
much will the insurer pay?
, Final Exam XCEL VA
Study online at https://quizlet.com/_9yw6yx
8. What effect can a long-term care benefit rider have reduced death benefit
on a life insurance policy
9. Jerome is covered by a disability income policy that nonoccupational coverage
does NOT provide benefits for losses occurring as
the result of his employment. What kind of cover-
age is this?
10. insurable Interest in one's own life is legally consid- generally unlimited
ered as
11. under what circumstance does an accident and when not prohibited by state
health insurer have the right to request an autopsy law
12. The pre-existing conditions exclusion under a small may be partially or fully satis-
employer medical plan fied by having creditable cov-
erage with a previous employ-
er
13. major medical plans typically exclude coverage for custodial care
which of the following benefits
14. An employee welfare plan exempt from ERISA reg- church plans
ulations would be
15. which of the following is not an intended use of an Create new funds upon the
annuity death of a wage-earner
16. Which of these statements about traditional indi- 10% penalty is applied to with-
vidual retirement accounts is accurate? drawals prior to age 59 1/2
17. The reason for backdating a policy is to obtain a premium rate
based on an earlier age
, Final Exam XCEL VA
Study online at https://quizlet.com/_9yw6yx
18. in a disability income contract, an insured is consid- loses the ability to speak
ered to be totally disabled under the presumptive
disability provision if he/she
19. Dan has a major medical expense policy with a $240
$200 deductible and an 80/20 coinsurance provi-
sion. He incurs covered medical expenses of $100
in November and $400 in January. Under the carry-
over provision, what will the insurer pay?
20. a prepaid dental plan has an agreement in place accepts an established amount
with a network of dentists which as payment in full for the den-
tal service rendered
21. which of the following best describes the presump- waives the typical total disabil-
tive disability provision? ity requirements
22. if an existing medicare supplement policy is being agent and applicant
replaced by a new policy, who is required to sign
the notice of replacement
23. the insurance coverage in a variable life insurance its underlying investments
policy may vary based on the value of
24. After an insurance application has been originated, is the major personal contact
the producer normally to the insured
25. a policyowner has a life insurance policy where she less than the face amount
had listed her age on the application as 5 years
younger than her actual age. If she dies and the
insurer discovers the misstatement of age, how
much will the insurance company pay?
26.
