XCEL Life & Health Insurance Test Review
Questions and Answers Graded A+
Period Certain - Answer Which annuity payout option allows the policy owner to choose a pre-
determined number of benefit payments?
Life only annuity - Answer Which annuity payout option has no additional payouts regardless of when
the annuitant dies
Errors and Omissions - Answer a professional liability for which producers can be sued for mistakes of
putting a policy into effect
irrevocable beneficiary - Answer requires the beneficiary's signature for any change to the beneficiary
representations - Answer statements made by an insurance applicant on an application
a specified amount of money - Answer life insurance policies guarantee the beneficiary what upon the
death of the insured
Endodontics - Answer common exclusion on a dental policy
Home health care - Answer Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home?
March 23, 2010 - Answer According to the Affordable Care Act, any plan in existence prior to which date
is considered a grandfathered plan?
Social Security Disability Income (SSDI) - Answer Which of the following is NOT a type of Medicare
Advantage Plan?
Preferred Provider Organization plan (PPO) - Answer Coordination of Benefits regulation applies to all of
the following plans EXCEPT
,30 days - Answer Both long-term care insurance and Medicare Supplement policies may be returned by
the insured for a full refund within
Hospital Indemnity - Answer Which type of coverage pays an amount per day for hospitalization directly
to the insured regardless of the insured's other health insurance?
Limited Policies - Answer Low frequency diseases can be exclusively covered by what kind of health
insurance policies?
Work-related - Answer What type of injury would NOT be covered under a health insurance policy?
It would be considered taxable income to the employee - Answer Without a Section 125 Plan in place,
what would happen to an employee's payroll contribution to an HSA?
a policy that is paid up after only one payment - Answer A single premium cash value policy can be
described as
Must have Medicare coverage - Answer How does one become eligible for Part D: Prescription Drug
coverage?
root canal - Answer An example of endodontic treatment is a
US Attorney General - Answer Under US Code 1033, crimes by or affecting persons engaged in the
business of insurance which affect interstate commerce are prosecuted by the
Mortality costs - Answer What would be an expense factor in an insurance program?
Insurer - Answer Which of the following signatures is not required on an individual insurance
application?
, outpatient medical services - Answer All of the following are defined as supplemental health insuring
corporation (HIC) services EXCEPT
upper limit of the total lifetime benefits the insurance company will pay - Answer "Maximum benefits"
refers to the
the beneficiary - Answer Signatures for an insurance application MUST be obtained by the producer
from all of the following sources EXCEPT
Coverage is eliminated - Answer What happens to the coverage under a children's term rider when that
child reaches a certain specified age?
increase the premiums on an individual basis - Answer Which of the following actions may an insurance
company NOT do in a health policy that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent - Answer When the superintendent believes an agent is
causing substantial and material harm, the superintendent has the authority to
A good health statement - Answer Upon policy delivery, which of the following must a producer have an
applicant sign if no initial premium was collected with the life insurance application?
Hedge against inflation - Answer Index whole life insurance contains a securities component that acts as
a(n)
It provides benefits for nonoccupational illnesses and injuries - Answer Which of the following
statements regarding Group Disability Income insurance is TRUE?
Employee must be able to make unlimited contributions - Answer Which of the following is NOT a
federal requirement of a qualified plan?
Own occupation clause - Answer Which clause defines total disability as being unable to perform the
major duties of the insured's regular occupation?
Questions and Answers Graded A+
Period Certain - Answer Which annuity payout option allows the policy owner to choose a pre-
determined number of benefit payments?
Life only annuity - Answer Which annuity payout option has no additional payouts regardless of when
the annuitant dies
Errors and Omissions - Answer a professional liability for which producers can be sued for mistakes of
putting a policy into effect
irrevocable beneficiary - Answer requires the beneficiary's signature for any change to the beneficiary
representations - Answer statements made by an insurance applicant on an application
a specified amount of money - Answer life insurance policies guarantee the beneficiary what upon the
death of the insured
Endodontics - Answer common exclusion on a dental policy
Home health care - Answer Which type of long-term care benefit would be most appropriate for a
stroke victim who requires speech therapy administered at her home?
March 23, 2010 - Answer According to the Affordable Care Act, any plan in existence prior to which date
is considered a grandfathered plan?
Social Security Disability Income (SSDI) - Answer Which of the following is NOT a type of Medicare
Advantage Plan?
Preferred Provider Organization plan (PPO) - Answer Coordination of Benefits regulation applies to all of
the following plans EXCEPT
,30 days - Answer Both long-term care insurance and Medicare Supplement policies may be returned by
the insured for a full refund within
Hospital Indemnity - Answer Which type of coverage pays an amount per day for hospitalization directly
to the insured regardless of the insured's other health insurance?
Limited Policies - Answer Low frequency diseases can be exclusively covered by what kind of health
insurance policies?
Work-related - Answer What type of injury would NOT be covered under a health insurance policy?
It would be considered taxable income to the employee - Answer Without a Section 125 Plan in place,
what would happen to an employee's payroll contribution to an HSA?
a policy that is paid up after only one payment - Answer A single premium cash value policy can be
described as
Must have Medicare coverage - Answer How does one become eligible for Part D: Prescription Drug
coverage?
root canal - Answer An example of endodontic treatment is a
US Attorney General - Answer Under US Code 1033, crimes by or affecting persons engaged in the
business of insurance which affect interstate commerce are prosecuted by the
Mortality costs - Answer What would be an expense factor in an insurance program?
Insurer - Answer Which of the following signatures is not required on an individual insurance
application?
, outpatient medical services - Answer All of the following are defined as supplemental health insuring
corporation (HIC) services EXCEPT
upper limit of the total lifetime benefits the insurance company will pay - Answer "Maximum benefits"
refers to the
the beneficiary - Answer Signatures for an insurance application MUST be obtained by the producer
from all of the following sources EXCEPT
Coverage is eliminated - Answer What happens to the coverage under a children's term rider when that
child reaches a certain specified age?
increase the premiums on an individual basis - Answer Which of the following actions may an insurance
company NOT do in a health policy that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent - Answer When the superintendent believes an agent is
causing substantial and material harm, the superintendent has the authority to
A good health statement - Answer Upon policy delivery, which of the following must a producer have an
applicant sign if no initial premium was collected with the life insurance application?
Hedge against inflation - Answer Index whole life insurance contains a securities component that acts as
a(n)
It provides benefits for nonoccupational illnesses and injuries - Answer Which of the following
statements regarding Group Disability Income insurance is TRUE?
Employee must be able to make unlimited contributions - Answer Which of the following is NOT a
federal requirement of a qualified plan?
Own occupation clause - Answer Which clause defines total disability as being unable to perform the
major duties of the insured's regular occupation?
