Final Exam: XCEL Health & Life
Insurance (Latest 2025/2026)
Questions with Verified Answers |
100% Correct| Graded A.
Question:
T is receiving $3,000/month from a Disability Income policy in which T's
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
employer has pad the premiums. How are the $3,000 benefit payments
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taxable??
Answer:
Benefits are taxable to T.i,- i,- i,- i,-
Question:
What kind of insurance policy supplies an income stream over a set
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
period of time that starts when the insured dies??
i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
Family Maintenance Policy
i,- i,-
Question:
Basic Medical Expense insurance:?
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Answer:
has lower benefit limits than Major Medical Insurance
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,Question:
What is the requirement for maintaining an individual Nevada producer
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
license??
Answer:
completing 30 hours of continuing education every 3 years
i,- i,- i,- i,- i,- i,- i,- i,-
Question:
J is a producer who has induced an insured through misrepresentation to
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
surrender an existing insurance policy. What is J guilty of??
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Answer:
Twisting
Question:
Which of these is considered a mandatory provision??
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Answer:
payment of claims i,- i,-
Question:
Which life insurance rider typically appears on a Juvenile life insurance
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policy??
Answer:
payor benefit rider
i,- i,-
,Question:
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
older who do not take the required minimum distributions from their
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
qualified retirement plan?? i,- i,-
Answer:
50%
Question:
An individual has a Major Medical policy with a $5,000 deductible and an
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
80/20 Coinsurance clause. How much will the INSURED have to pay if a
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
total of $15,000 in covered medical expenses are incurred??
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Answer:
$7,000
Question:
Within how many days after policy delivery can a Long-term Care policy
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be returned for a 100% premium refund??
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Answer:
30
Question:
Which of the following is an example of defamation??
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Answer:
circulating brochures that falsely denounce the financial condition of an
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
insurer
, Question:
T has a Disability Income policy that pays a monthly benefit of $5,000. If T
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
becomes partially disabled, what can he likely expect??
i,- i,- i,- i,- i,- i,- i,-
Answer:
Less than $5,000 per month benefit regardless of the cause
i,- i,- i,- i,- i,- i,- i,- i,- i,-
Question:
A Medicare Supplement policyholder has ___ days to return the policy and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
receive a full premium refund.?
i,- i,- i,- i,-
Answer:
30
Question:
The health insurance program which is administered by each state and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
funded by both the federal and state governments is called:?
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Answer:
Medicaid
Question:
K has a life insurance policy where her husband is beneficiary and her
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
daughter is contingent beneficiary. Under the Common Disaster clause, if
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
K and her husband are both killed in an automobile accident, where
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
would the death proceeds be directed??
i,- i,- i,- i,- i,-
Answer:
Insurance (Latest 2025/2026)
Questions with Verified Answers |
100% Correct| Graded A.
Question:
T is receiving $3,000/month from a Disability Income policy in which T's
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
employer has pad the premiums. How are the $3,000 benefit payments
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
taxable??
Answer:
Benefits are taxable to T.i,- i,- i,- i,-
Question:
What kind of insurance policy supplies an income stream over a set
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
period of time that starts when the insured dies??
i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
Family Maintenance Policy
i,- i,-
Question:
Basic Medical Expense insurance:?
i,- i,- i,-
Answer:
has lower benefit limits than Major Medical Insurance
i,- i,- i,- i,- i,- i,- i,-
,Question:
What is the requirement for maintaining an individual Nevada producer
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
license??
Answer:
completing 30 hours of continuing education every 3 years
i,- i,- i,- i,- i,- i,- i,- i,-
Question:
J is a producer who has induced an insured through misrepresentation to
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
surrender an existing insurance policy. What is J guilty of??
i,- i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
Twisting
Question:
Which of these is considered a mandatory provision??
i,- i,- i,- i,- i,- i,- i,-
Answer:
payment of claims i,- i,-
Question:
Which life insurance rider typically appears on a Juvenile life insurance
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
policy??
Answer:
payor benefit rider
i,- i,-
,Question:
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
older who do not take the required minimum distributions from their
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
qualified retirement plan?? i,- i,-
Answer:
50%
Question:
An individual has a Major Medical policy with a $5,000 deductible and an
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
80/20 Coinsurance clause. How much will the INSURED have to pay if a
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
total of $15,000 in covered medical expenses are incurred??
i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
$7,000
Question:
Within how many days after policy delivery can a Long-term Care policy
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
be returned for a 100% premium refund??
i,- i,- i,- i,- i,- i,-
Answer:
30
Question:
Which of the following is an example of defamation??
i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
circulating brochures that falsely denounce the financial condition of an
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
insurer
, Question:
T has a Disability Income policy that pays a monthly benefit of $5,000. If T
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
becomes partially disabled, what can he likely expect??
i,- i,- i,- i,- i,- i,- i,-
Answer:
Less than $5,000 per month benefit regardless of the cause
i,- i,- i,- i,- i,- i,- i,- i,- i,-
Question:
A Medicare Supplement policyholder has ___ days to return the policy and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
receive a full premium refund.?
i,- i,- i,- i,-
Answer:
30
Question:
The health insurance program which is administered by each state and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
funded by both the federal and state governments is called:?
i,- i,- i,- i,- i,- i,- i,- i,- i,-
Answer:
Medicaid
Question:
K has a life insurance policy where her husband is beneficiary and her
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
daughter is contingent beneficiary. Under the Common Disaster clause, if
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
K and her husband are both killed in an automobile accident, where
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
would the death proceeds be directed??
i,- i,- i,- i,- i,-
Answer:
