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XCEL FINAL STUDY LOUISIANA LHA INSURANCE EXAM QUESTIONS AND ANSWERS GRADED A 2024

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Under group health insurance, a certificate of coverage is issued to the - employee Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit? - Increase the premiums on an individual basis A payment system for health care in which the provider is paid for each service given is called - fee-for-service The free look period provided in a life insurance policy is usually - 10 days The free-look provision gives...

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XCEL Exam Simulator FL Study Guide 2024

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S recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - Single Premium. Immediate Annuities are purchased with a single lump sum payment and will start providing income payments within the first year, but usually starting 30 days from the purchase date. What type of group plan involves employees sharing the cost?...

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XCEL Solutions practice Exam Simulator Study Guide Graded A 2024

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Which of the following statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life insurance policy's primary beneficiary? - All proceeds are income tax free in the year they are received. A(n) _____ insurance company is one formed in a country other than the United States. - Alien Term insurance has which of the following characteristics? - Expires at the end of the policy period. Which Federal law allows an insurer to obtain an inspection report on a potent...

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XCEL VA Final Exam Questions and Answers with Verified Solutions Graded A 2024

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The free-look period for a new Medicare Supplement policy is - 30 days Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the - cost basis All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT - leave a conditional receipt with client which of these would likely be considered an Unfair Claims S...

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Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only 2024

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Question 1 Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - Life income Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - 24 hours Question 3 L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L has understated range on the application. Under the misstatement of age provision the insurer will? - Adjus...

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XCEL Final Exam California Life Insurance Exam Questions and Answers 2024

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A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is called a(n) - Deferred Annuity Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 Payments What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start The systematic liquidation of a sum of money...

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Xcel solutions final exam Maryland Life and Health Exam Study Questions and Answers Graded A 2024

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What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) - Warranty What is taken into consideration when defining "total disability" i...

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