Xcel Solutions Final Exam Test Questions And Answers
Graded A+
Insuring Which health policy clause specifies the
amount of benefits to be paid - ANSWER - An agent gives a conditional receipt to a client for
Insuring an insurance policy after collecting the initial
premium. When will the policy become effective?
- ANSWER -When the conditions of the
The investment gains from a universal life policy receipt are met
usually go to - ANSWER -The cash value
Which of the following costs would a Basic
L takes out a life insurance policy and dies 10 Hospital/Surgical policy cover? - ANSWER -
years later. During the claim process, the insurer Surgically removing a facial birthmark
finds out that the applicant misstated their age.
What will the insurer do? - ANSWER -
Adjust the death benefit to a reduced amount Which of the following statements is CORRECT
about an agent who is taking an insurance
application - ANSWER -The agent should
An employee is covered under a company group have the applicant initial any changes made on
life plan with a $50,000 death benefit. What is the application
the Maximum amount a spouse may be insured
for under this program - ANSWER -$25,000
Which statement is true about a whole life policy -
ANSWER -Cash value may be borrowed
M is insured under a basic hospital/surgical against
expense policy. A physician performs surgery on
M. What determines the claim M is eligible for -
ANSWER -Determined by the terms of the How long does an insurance company
policy appointment remain in force - ANSWER -
Until terminated
A(n)__-_-_-_-_-_-_-_ beneficiary may be
changed by the policy owner without the consent Which of the following statements about health
of the beneficiary - ANSWER -Revocable coverage for newborns is NOT true? -
ANSWER -Coverage is LIMITED to only
congenital defects
What is the MINIMUM benefit period that must
be offered by a long term care policy -
ANSWER -12 months Medicare Part A and Part B do NOT pay for -
ANSWER -Dental care
To terminate an agent's appointment, an
insurance company must - ANSWER -Send An insurance company receives E's application
termination notice to the Texas Department of for an individual health policy. E did not complete
Insurance all of the medical history questions because she
could not remember the exact dates. E signed
, Xcel Solutions Final Exam Test Questions And Answers
Graded A+
the policy and submitted it to the insurance work related disabilities, since work related
company anyway. A few weeks later, E suffers a disabilities are covered by workers compensation
heart attack and is hospitalized without
completing the medical history questions and
paying the initial premium. E is not insured. A policy of adhesion can only be modified by
Which of the following clauses details the whom - ANSWER -The insurance company
conditions that E did not meet? -
ANSWER -Consideration clause
G is an accountant who has ten employees and
is concerned about how the business would
The percentage of an individuals primary survive financially if G became disabled. The type
insurance amount determines the benefits paid of policy which best addresses this concern is: -
in which of the following programs - ANSWER -Business overhead expense
ANSWER -Social Security Disability
Income
An architecture firm would stand to lose a lot of
money in the event of the death of its project
Q is severely injured in an automobile accident manager. Which type of policy should the firm
and becomes totally disabled. How many months purchase - ANSWER -Key person life policy
must Q be disabled before being able to apply
for Social Security disability benefits? -
ANSWER -5 months A new general property and casualty licensee
must complete at LEAST ____ hours of
continuing education within 24 months of initial
After an insured gives notice of loss, what must licensure - ANSWER -24
he/she do if the insurer does not furnish forms -
ANSWER -File written proof of loss
Which of the following groups may not be insured
by a group life insurance policy -
Which of the following types of care is typically ANSWER -Individuals who are related by
not covered in a long term care policy - blood
ANSWER -acupuncture
In Texas, which of these statements regarding
Which of these does not constitute policy delivery the suicide clause is true - ANSWER -An
- ANSWER -Policy issued with a rating insurer may not use suicide as a defense against
payment after the second year
Which type of plan normally includes hospice
benefits - ANSWER -Managed care plans Why is an applicants signature required on a life
insurance application - ANSWER -To attest
that the statements on the application are
Non-occupational disability coverage is designed accurate to the best of the applicant's knowledge
for - ANSWER -Employees who suffer non
Graded A+
Insuring Which health policy clause specifies the
amount of benefits to be paid - ANSWER - An agent gives a conditional receipt to a client for
Insuring an insurance policy after collecting the initial
premium. When will the policy become effective?
- ANSWER -When the conditions of the
The investment gains from a universal life policy receipt are met
usually go to - ANSWER -The cash value
Which of the following costs would a Basic
L takes out a life insurance policy and dies 10 Hospital/Surgical policy cover? - ANSWER -
years later. During the claim process, the insurer Surgically removing a facial birthmark
finds out that the applicant misstated their age.
What will the insurer do? - ANSWER -
Adjust the death benefit to a reduced amount Which of the following statements is CORRECT
about an agent who is taking an insurance
application - ANSWER -The agent should
An employee is covered under a company group have the applicant initial any changes made on
life plan with a $50,000 death benefit. What is the application
the Maximum amount a spouse may be insured
for under this program - ANSWER -$25,000
Which statement is true about a whole life policy -
ANSWER -Cash value may be borrowed
M is insured under a basic hospital/surgical against
expense policy. A physician performs surgery on
M. What determines the claim M is eligible for -
ANSWER -Determined by the terms of the How long does an insurance company
policy appointment remain in force - ANSWER -
Until terminated
A(n)__-_-_-_-_-_-_-_ beneficiary may be
changed by the policy owner without the consent Which of the following statements about health
of the beneficiary - ANSWER -Revocable coverage for newborns is NOT true? -
ANSWER -Coverage is LIMITED to only
congenital defects
What is the MINIMUM benefit period that must
be offered by a long term care policy -
ANSWER -12 months Medicare Part A and Part B do NOT pay for -
ANSWER -Dental care
To terminate an agent's appointment, an
insurance company must - ANSWER -Send An insurance company receives E's application
termination notice to the Texas Department of for an individual health policy. E did not complete
Insurance all of the medical history questions because she
could not remember the exact dates. E signed
, Xcel Solutions Final Exam Test Questions And Answers
Graded A+
the policy and submitted it to the insurance work related disabilities, since work related
company anyway. A few weeks later, E suffers a disabilities are covered by workers compensation
heart attack and is hospitalized without
completing the medical history questions and
paying the initial premium. E is not insured. A policy of adhesion can only be modified by
Which of the following clauses details the whom - ANSWER -The insurance company
conditions that E did not meet? -
ANSWER -Consideration clause
G is an accountant who has ten employees and
is concerned about how the business would
The percentage of an individuals primary survive financially if G became disabled. The type
insurance amount determines the benefits paid of policy which best addresses this concern is: -
in which of the following programs - ANSWER -Business overhead expense
ANSWER -Social Security Disability
Income
An architecture firm would stand to lose a lot of
money in the event of the death of its project
Q is severely injured in an automobile accident manager. Which type of policy should the firm
and becomes totally disabled. How many months purchase - ANSWER -Key person life policy
must Q be disabled before being able to apply
for Social Security disability benefits? -
ANSWER -5 months A new general property and casualty licensee
must complete at LEAST ____ hours of
continuing education within 24 months of initial
After an insured gives notice of loss, what must licensure - ANSWER -24
he/she do if the insurer does not furnish forms -
ANSWER -File written proof of loss
Which of the following groups may not be insured
by a group life insurance policy -
Which of the following types of care is typically ANSWER -Individuals who are related by
not covered in a long term care policy - blood
ANSWER -acupuncture
In Texas, which of these statements regarding
Which of these does not constitute policy delivery the suicide clause is true - ANSWER -An
- ANSWER -Policy issued with a rating insurer may not use suicide as a defense against
payment after the second year
Which type of plan normally includes hospice
benefits - ANSWER -Managed care plans Why is an applicants signature required on a life
insurance application - ANSWER -To attest
that the statements on the application are
Non-occupational disability coverage is designed accurate to the best of the applicant's knowledge
for - ANSWER -Employees who suffer non
