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XCEL Georgia Life, Accident, & Sickness SIMULATOR
2025/2026 BANK VERSIONS COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING
VERSIONS AND A STUDY GUIDE | EXPERT VERIFIED
FOR GUARANTEED PASS
J is a subscriber to a plan which contracts with doctors and hospitals to
provide medical benefits at a predetermined price. What type of plan does J
belong to?
A) Multiple Employer Welfare Arrangement
B) Multiple Employer Trust
C) Health Maintenance Organization
D) Co-op Arrangement .....answer.....C) Health Maintenance Organization
A Health Maintenance Organization (HMO) contracts with doctors and
hospitals to provide medical benefits to subscribers at a predetermined
price.
Why would the Commissioner examine an insurer's records?
A) To determine the solvency of the insurer
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B) To determine claims rate of the insurer
C) To approve a rate increase by the insurer
D) To determine the AM Best rating of the insurer .....answer.....A) To
determine the solvency of the insurer
What is the initial source of underwriting for an insurance policy?
A) Application containing statements from the insured
B) MIB report
C) Credit report
D) Medical exam .....answer.....A) Application containing statements from
the insured
The initial source of underwriting for an insurance policy is the application
containing statements from the insured.
A level premium indicates:
A) The premium is fixed for a period stated in the contract, then becomes
variable
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B) The premium can only be changed with the consent of the insurer
C) The premium stays level until the policy's renewal date
D) The premium is fixed for the entire duration of the contract
.....answer.....D) The premium is fixed for the entire duration of the
contract
A level premium means that the premium remains fixed through the life of a
policy.
An insurer must provide an insured with claim forms within ____ days after
receiving notice of a loss.
A) 5
B) 10
C) 15
D) 20 .....answer.....C) 15
Under the Claims Forms provision, an insurer must provide an insured with
claim forms within a MAXIMUM of 15 days after receiving notice of a loss.
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In a Disability Income policy, which of these clauses acts as a deductible?
A) Elimination Period
B) Waiver Period
C) Deductible Period
D) Probationary Period .....answer.....A) Elimination Period
The Elimination Period serves as the deductible in a disability income policy.
Which of these retirement plans can be started by an employee, even if
another plan is in existence?
A) Individual Retirement Account (IRA)
B) Defined plan
C) Keogh plan
D) 403(b) plan .....answer.....A) Individual Retirement Account (IRA)
An IRA may be established by an employee, regardless of any other
retirement plan.
XCEL Georgia Life, Accident, & Sickness SIMULATOR
2025/2026 BANK VERSIONS COMPLETE STUDY GUIDE
ACCURATE REAL EXAM QUESTIONS TESTING
VERSIONS AND A STUDY GUIDE | EXPERT VERIFIED
FOR GUARANTEED PASS
J is a subscriber to a plan which contracts with doctors and hospitals to
provide medical benefits at a predetermined price. What type of plan does J
belong to?
A) Multiple Employer Welfare Arrangement
B) Multiple Employer Trust
C) Health Maintenance Organization
D) Co-op Arrangement .....answer.....C) Health Maintenance Organization
A Health Maintenance Organization (HMO) contracts with doctors and
hospitals to provide medical benefits to subscribers at a predetermined
price.
Why would the Commissioner examine an insurer's records?
A) To determine the solvency of the insurer
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B) To determine claims rate of the insurer
C) To approve a rate increase by the insurer
D) To determine the AM Best rating of the insurer .....answer.....A) To
determine the solvency of the insurer
What is the initial source of underwriting for an insurance policy?
A) Application containing statements from the insured
B) MIB report
C) Credit report
D) Medical exam .....answer.....A) Application containing statements from
the insured
The initial source of underwriting for an insurance policy is the application
containing statements from the insured.
A level premium indicates:
A) The premium is fixed for a period stated in the contract, then becomes
variable
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B) The premium can only be changed with the consent of the insurer
C) The premium stays level until the policy's renewal date
D) The premium is fixed for the entire duration of the contract
.....answer.....D) The premium is fixed for the entire duration of the
contract
A level premium means that the premium remains fixed through the life of a
policy.
An insurer must provide an insured with claim forms within ____ days after
receiving notice of a loss.
A) 5
B) 10
C) 15
D) 20 .....answer.....C) 15
Under the Claims Forms provision, an insurer must provide an insured with
claim forms within a MAXIMUM of 15 days after receiving notice of a loss.
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In a Disability Income policy, which of these clauses acts as a deductible?
A) Elimination Period
B) Waiver Period
C) Deductible Period
D) Probationary Period .....answer.....A) Elimination Period
The Elimination Period serves as the deductible in a disability income policy.
Which of these retirement plans can be started by an employee, even if
another plan is in existence?
A) Individual Retirement Account (IRA)
B) Defined plan
C) Keogh plan
D) 403(b) plan .....answer.....A) Individual Retirement Account (IRA)
An IRA may be established by an employee, regardless of any other
retirement plan.
