XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
A medical provider that accepts Medicare Assignment must -
ANSWERS-accept payment based upon a defined Medicare schedule as
payment in full
A medical provider that accepts Medicare Assignment must accept
payment based upon a defined Medicare schedule as payment in full.
What happens when an insurance policy is backdated? - ANSWERS-
The policy's effective date is earlier than the present
Backdating on an insurance policy is the practice of making the policy
effective on an earlier date than the present.
Which type of multiple protection policy pays on the death of the last
person? - ANSWERS-Survivorship life policy
A survivorship life policy pays on the death of the last person.
During the accumulation period, who can surrender an annuity? -
ANSWERS-Policyowner
END OF
PAGE
1
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
The policyowner is the only one who can surrender an annuity during
the accumulation period.
Which type of policy combines the flexibility of a universal life policy
with investment choices? - ANSWERS-Variable universal life policy
When the structure and flexibility of a universal life policy are combined
with investment choices, the result is a variable universal life policy.
A nonresident of Louisiana who has satisfied the licensing requirements
for a line of insurance in the licensee's state and who wishes to sell that
line of insurance in Louisiana, must meet all of the following
requirements EXCEPT: - ANSWERS-Take the appropriate Louisiana
licensing examination
A nonresident licensee from another state is not required to take a
licensing examination if they are already in good standing with their
state of residence.
An insurer's license to do business in Louisiana is called - ANSWERS-a
certificate of authority
END OF
PAGE
2
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
An insurer's license to do business in Louisiana is called a certificate of
authority.
When a company is licensed by the Department of Insurance to do
business in this state, it becomes - ANSWERS-An authorized company
When a company is licensed by the Department of Insurance to do
business in this state, it becomes an authorized company.
In Louisiana, a long-term care policy which lapses may be reinstated
within five months if - ANSWERS-The covered individual was mentally
incapacitated
In Louisiana, a long-term care policy which lapses may be reinstated
within five months if the covered individual was mentally incapacitated.
Dorian exercised a nonforfeiture option by using his life policy's cash
value to purchase an extended term insurance option. When the term
insurance expires, - ANSWERS-the protection ends
When the term insurance expires in an extended term option, there is no
more protection.
END OF
PAGE
3
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
A health insurance policy covers the insured, the insured's spouse, and
their child. If additional children are born to the family, the health
insurance policy must cover the children - ANSWERS-From the date of
birth
In this situation, the health insurance policy must cover the children
from the date of birth.
A securities license is required for a life insurance producer to sell -
ANSWERS-variable life insurance
A life insurance producer needs to possess a securities license to sell
variable annuities.
Susan is insured through her Group Health Insurance plan and changed
her coverage to an individual plan with the same insurer after her
employment was terminated. This change is called a(n) - ANSWERS-
conversion
END OF
PAGE
4
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
A medical provider that accepts Medicare Assignment must -
ANSWERS-accept payment based upon a defined Medicare schedule as
payment in full
A medical provider that accepts Medicare Assignment must accept
payment based upon a defined Medicare schedule as payment in full.
What happens when an insurance policy is backdated? - ANSWERS-
The policy's effective date is earlier than the present
Backdating on an insurance policy is the practice of making the policy
effective on an earlier date than the present.
Which type of multiple protection policy pays on the death of the last
person? - ANSWERS-Survivorship life policy
A survivorship life policy pays on the death of the last person.
During the accumulation period, who can surrender an annuity? -
ANSWERS-Policyowner
END OF
PAGE
1
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
The policyowner is the only one who can surrender an annuity during
the accumulation period.
Which type of policy combines the flexibility of a universal life policy
with investment choices? - ANSWERS-Variable universal life policy
When the structure and flexibility of a universal life policy are combined
with investment choices, the result is a variable universal life policy.
A nonresident of Louisiana who has satisfied the licensing requirements
for a line of insurance in the licensee's state and who wishes to sell that
line of insurance in Louisiana, must meet all of the following
requirements EXCEPT: - ANSWERS-Take the appropriate Louisiana
licensing examination
A nonresident licensee from another state is not required to take a
licensing examination if they are already in good standing with their
state of residence.
An insurer's license to do business in Louisiana is called - ANSWERS-a
certificate of authority
END OF
PAGE
2
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
An insurer's license to do business in Louisiana is called a certificate of
authority.
When a company is licensed by the Department of Insurance to do
business in this state, it becomes - ANSWERS-An authorized company
When a company is licensed by the Department of Insurance to do
business in this state, it becomes an authorized company.
In Louisiana, a long-term care policy which lapses may be reinstated
within five months if - ANSWERS-The covered individual was mentally
incapacitated
In Louisiana, a long-term care policy which lapses may be reinstated
within five months if the covered individual was mentally incapacitated.
Dorian exercised a nonforfeiture option by using his life policy's cash
value to purchase an extended term insurance option. When the term
insurance expires, - ANSWERS-the protection ends
When the term insurance expires in an extended term option, there is no
more protection.
END OF
PAGE
3
, XCEL TESTING LATEST
SOLUTIONS- LIFE
AND HEALTH
INSURANCE-EXAM
A health insurance policy covers the insured, the insured's spouse, and
their child. If additional children are born to the family, the health
insurance policy must cover the children - ANSWERS-From the date of
birth
In this situation, the health insurance policy must cover the children
from the date of birth.
A securities license is required for a life insurance producer to sell -
ANSWERS-variable life insurance
A life insurance producer needs to possess a securities license to sell
variable annuities.
Susan is insured through her Group Health Insurance plan and changed
her coverage to an individual plan with the same insurer after her
employment was terminated. This change is called a(n) - ANSWERS-
conversion
END OF
PAGE
4
