Xcel Life Insurance Exam
Replacement regulation is designed to protect - Correct answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Correct answer-
Preventative health services
Which of these will have the highest monthly payout upon annuitization - Correct
answer-Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Correct answer-Clauses
Which of the following is considered to be an alternative to a life settlement? - Correct
answer-Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - Correct answer-
Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
Correct 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? - Correct answer-Human life value approach
Which of the following policies does NOT build cash value? - Correct 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? - Correct answer-Human life value
The free look period provided in a life insurance policy is usually - Correct answer-10
days
What does "SHOP" stand in SHOP Exchange? - Correct answer-Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Correct answer-master policy
Which of the following is NOT covered under Workers' Compensation? - Correct
answer-Pain and suffering
, Which of the following provides Medicare supplement policies? - Correct answer-Private
insurance companies
A life settlement intermediary is a(n) - Correct 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? - Correct answer-Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - Correct answer-Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - Correct answer-avoid overpayment of claims
Medicaid is intended for - Correct answer-poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Correct answer-collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
Correct 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 - Correct answer-twisting
Which type of annuity stops all payments upon the death of the annuitant? - Correct
answer-Life annuity
Decreasing term life insurance is often used to - Correct answer-provide coverage for a
home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Correct answer-Specified amount of money
Major medical insurance will typically cover medical expenses that result from - Correct
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 - Correct answer-1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - Correct answer-accident
Replacement regulation is designed to protect - Correct answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - Correct answer-
Preventative health services
Which of these will have the highest monthly payout upon annuitization - Correct
answer-Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - Correct answer-Clauses
Which of the following is considered to be an alternative to a life settlement? - Correct
answer-Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - Correct answer-
Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
Correct 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? - Correct answer-Human life value approach
Which of the following policies does NOT build cash value? - Correct 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? - Correct answer-Human life value
The free look period provided in a life insurance policy is usually - Correct answer-10
days
What does "SHOP" stand in SHOP Exchange? - Correct answer-Small Business Health
Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Correct answer-master policy
Which of the following is NOT covered under Workers' Compensation? - Correct
answer-Pain and suffering
, Which of the following provides Medicare supplement policies? - Correct answer-Private
insurance companies
A life settlement intermediary is a(n) - Correct 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? - Correct answer-Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant. - Correct answer-Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to - Correct answer-avoid overpayment of claims
Medicaid is intended for - Correct answer-poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Correct answer-collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
Correct 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 - Correct answer-twisting
Which type of annuity stops all payments upon the death of the annuitant? - Correct
answer-Life annuity
Decreasing term life insurance is often used to - Correct answer-provide coverage for a
home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured? - Correct answer-Specified amount of money
Major medical insurance will typically cover medical expenses that result from - Correct
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 - Correct answer-1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n) - Correct answer-accident
