Xcel Life Insurance EXAM
comprehensive questions and verified
answers| get it 100% ACCURATE!!
A business for typically use which type of life insurance to cover their employees? - correct
answers Group policy
A carrier for a small group health plan may refuse to renew the plan if the employer - correct
answers fails to pay the premium
A disability income policy can prevent an insured from earning a higher income than if he/she
were working by utilizing - correct answers benefit limits
A disability policy where the premiums are due monthly require a grace period of - correct
answers 10 days
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2 years,
starting from the date of the injury. What is this time period called? - correct answers Benefit
period
,A domestic insurance company in New York MUST - correct answers be formed under the laws
of New York
A form of medical health insurance covering is the treatment and the care of gum disease is
called - correct answers Dental expense insurance
A health insurance policy will typically cover - correct answers preventative health services
A hospital or medical expense policy will typically cover dental treatment expenses which under
circumstances? - correct answers Dental treatment is needed to repair an injury
A life settlement broker is someone who is - correct answers licensed to negotiate a life
settlement contract
A life settlement intermediary is a(n) - correct answers association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement contracts
A limited payment whole life policy provides - correct answers lifetime protection
A long-term care policy typically provide all the following levels of care except - correct answers
Acute care
A Medicare Supplement policy must NOT contain benefits which - correct answers duplicate
Medicare benefits
A policyowner suffers an injury that renders him incapable of performing one or more
important job duties. Any decrease in income resulting from this injury would make him eligible
for benefits under which provision? - correct answers Partial disability
,A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - correct answers collateral assignment
ABC insurance company transfer is part of their risk to XYZ insurance company this situation is
called - correct answers Reinsurance
After year(s) from date of issue, an individual health insurance policy can no longer be cancelled
by the insurer for misstatements (except for fraud). - correct answers 2
All Health Benefit Plans issued after January 1, 2014 must provide - correct answers
Preventative health services
All of the following are considered to be nonforfeiture options available to a policyowner
EXCEPT - correct answers Reduction of Premium
All of the following are typically included in a life insurance policy illustration EXCEPT - correct
answers Names of the beneficiaries
All of these are characteristics of a universal life insurance policy EXCEPT - correct answers Fixed
surrender value
All of these are valid policy dividend options for a life insurance policyowner EXCEPT - correct
answers accumulate without interest
All the following are considered appropriate to use of life insurance for business purposes
except - correct answers Protecting the business by covering entry-level employees with life
insurance
, An accident and health insurer has just received written proof of loss from one of its insureds.
The insured must now wait 60 days before - correct answers bringing legal action agaínst the
insurer
An agent has recently died and leave behind a spouse in order for the aged insurance business
to continue the superintendent may issue to the agent spouse a - correct answers Temporary
insurance license
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 answers Refund annuity
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
correct answers master policy
An employer may qualify for health care tax credits through SHOP Marketplace if that employer
has fewer than how many employees? - correct answers 25
An example of a tax-qualified retirement plan would be a(n) - correct answers defined
contribution plan
An example of misrepresentation is - correct answers providing incorrect, misleading,
incomplete, or materially untrue information in the license application
An individual life insurance policy becomes incontestable after it has been in force for - correct
answers 2 years
An individual who removes the risk of losing money in the stock market by never purchasing
stocks is said to be engaging in - correct answers Risk avoidance
comprehensive questions and verified
answers| get it 100% ACCURATE!!
A business for typically use which type of life insurance to cover their employees? - correct
answers Group policy
A carrier for a small group health plan may refuse to renew the plan if the employer - correct
answers fails to pay the premium
A disability income policy can prevent an insured from earning a higher income than if he/she
were working by utilizing - correct answers benefit limits
A disability policy where the premiums are due monthly require a grace period of - correct
answers 10 days
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2 years,
starting from the date of the injury. What is this time period called? - correct answers Benefit
period
,A domestic insurance company in New York MUST - correct answers be formed under the laws
of New York
A form of medical health insurance covering is the treatment and the care of gum disease is
called - correct answers Dental expense insurance
A health insurance policy will typically cover - correct answers preventative health services
A hospital or medical expense policy will typically cover dental treatment expenses which under
circumstances? - correct answers Dental treatment is needed to repair an injury
A life settlement broker is someone who is - correct answers licensed to negotiate a life
settlement contract
A life settlement intermediary is a(n) - correct answers association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement contracts
A limited payment whole life policy provides - correct answers lifetime protection
A long-term care policy typically provide all the following levels of care except - correct answers
Acute care
A Medicare Supplement policy must NOT contain benefits which - correct answers duplicate
Medicare benefits
A policyowner suffers an injury that renders him incapable of performing one or more
important job duties. Any decrease in income resulting from this injury would make him eligible
for benefits under which provision? - correct answers Partial disability
,A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is
called a(n) - correct answers collateral assignment
ABC insurance company transfer is part of their risk to XYZ insurance company this situation is
called - correct answers Reinsurance
After year(s) from date of issue, an individual health insurance policy can no longer be cancelled
by the insurer for misstatements (except for fraud). - correct answers 2
All Health Benefit Plans issued after January 1, 2014 must provide - correct answers
Preventative health services
All of the following are considered to be nonforfeiture options available to a policyowner
EXCEPT - correct answers Reduction of Premium
All of the following are typically included in a life insurance policy illustration EXCEPT - correct
answers Names of the beneficiaries
All of these are characteristics of a universal life insurance policy EXCEPT - correct answers Fixed
surrender value
All of these are valid policy dividend options for a life insurance policyowner EXCEPT - correct
answers accumulate without interest
All the following are considered appropriate to use of life insurance for business purposes
except - correct answers Protecting the business by covering entry-level employees with life
insurance
, An accident and health insurer has just received written proof of loss from one of its insureds.
The insured must now wait 60 days before - correct answers bringing legal action agaínst the
insurer
An agent has recently died and leave behind a spouse in order for the aged insurance business
to continue the superintendent may issue to the agent spouse a - correct answers Temporary
insurance license
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 answers Refund annuity
An employer is issued a group medical insurance policy. This single contract is known as a(n) -
correct answers master policy
An employer may qualify for health care tax credits through SHOP Marketplace if that employer
has fewer than how many employees? - correct answers 25
An example of a tax-qualified retirement plan would be a(n) - correct answers defined
contribution plan
An example of misrepresentation is - correct answers providing incorrect, misleading,
incomplete, or materially untrue information in the license application
An individual life insurance policy becomes incontestable after it has been in force for - correct
answers 2 years
An individual who removes the risk of losing money in the stock market by never purchasing
stocks is said to be engaging in - correct answers Risk avoidance
