XCEL LOUISIANA WEIGHTED STATE EXAM
QUESTIONS
Which is true about the licensing of business entities in Louisiana?
A separate license is issued for each line of insurance
A licensed producer must be designated as responsible for compliance with state and
insurance laws and regulations
Business entities handling only commercial lines need NOT be licensed
No licensing is necessary as long as all producers active within the business entity are
properly licensed - Answer -A licensed producer must be designated as responsible for
compliance with state insurance laws and regulations.
An indemnity plan
pays both the insured and health care provider
provides the insured a specific dollar amount for services
pays the health care provider directly for services rendered
is typically issued as a group plan - Answer -Provides the insured a specific dollar
amount for services
Shirley has a Medigap policy, which is designed to pay costs associated with
Medicare parts A and B
Medicare Advantage
Medicare part C
Medicare part D - Answer -Medicare parts A and B
Susan is insured through her Group Health Insurance plan and changed her coverage
to an individual plan with the same insurer after her employment was terminated. This
change is called a(n)
crossover
,conversion
exchange
extension of benefits - Answer -Conversion
A life insurance policy becomes incontestable after it has been in forcer for
30 days
6 months
2 years
3 years - Answer -2 years
When family coverage is in place, newborn children are automatically covered under a
medical plan for a period of at least
3 days
10 days
21 days
31 days - Answer -31 days
Typically, Long-term Disability benefits are coordinated with which benefit plan?
Social security
Individual retirement account
Life insurance
Accured sick time - Answer -Social Security
An insurable interest in each other's lives may exist in absence of an economic interest
when the individuals are
Competitors
Business Associates
Marriage partners
,Traveling companions - Answer -Marriage partners
An example of elective surgery (cosmetic) would be?
reconstructive breast surgery after a mastectomy
Removing excess fat from an insured's waistline
Surgery to correct a birth defect
Reconstructive surgery after suffering injuries from an automobile accident. - Answer -
Removing excess fat from an insured's waist line
James is the insured on a life insurance policy where his age was misstated on the
application. Which of the following is correct regarding the death benefit amount?
The original face amount will be paid to the beneficiary
The policy will be voided with no death benefits paid
The death benefit paid will be what the premium would have been if purchased at the
correct age
The amount of premiums paid will be returned with interest - Answer -The death benefit
paid will be what the premium would have been if purchased at the correct age
Which of these will have the highest monthly payout?
Life with period certain
Joint and survivor life
Straight life
Joint life - Answer -Straight life
This MANDATORY health policy provision states that the policy, including
endorsements and attached papers, constitutes
The partial insurance contract between the parties
The entire insurance contract between the parties
The conformity of state statutes
, The legal purpose of the contract - Answer -The entire insurance contract between the
parties
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental
Insurance?
Medicare in-hospital deductible
Dental work
Nutritional Supplements
Chiropractic Care - Answer -Medicare in-hospital deductible
A producer's license in Louisiana must be renewed every...
One Year
Two Years
Three Years
Four Years - Answer -Two Years
An example of naming a beneficiary by class would be
"To the children born of my union with Ned Jackson: David Jackson, Jennifer Jackson,
and Scott Jackson"
"To the child born of my union with Ned Jackson: Scott Jackson"
"To the children born of my union with Ned Jackson"
"To Ned Jackson" - Answer -"To the children born of my union with Ned Jackson."
When an insured under a group of life insurance plan in Louisiana elects the conversion
option, the new policy is issued...
Without requiring evidence of insurability
At the same premium rate as the group benefit amount
With a maximum face amount of two times the group benefit amount
As temporary coverage until the insured becomes eligible under a new group plan. -
Answer -Without requiring evidence of insurability
QUESTIONS
Which is true about the licensing of business entities in Louisiana?
A separate license is issued for each line of insurance
A licensed producer must be designated as responsible for compliance with state and
insurance laws and regulations
Business entities handling only commercial lines need NOT be licensed
No licensing is necessary as long as all producers active within the business entity are
properly licensed - Answer -A licensed producer must be designated as responsible for
compliance with state insurance laws and regulations.
An indemnity plan
pays both the insured and health care provider
provides the insured a specific dollar amount for services
pays the health care provider directly for services rendered
is typically issued as a group plan - Answer -Provides the insured a specific dollar
amount for services
Shirley has a Medigap policy, which is designed to pay costs associated with
Medicare parts A and B
Medicare Advantage
Medicare part C
Medicare part D - Answer -Medicare parts A and B
Susan is insured through her Group Health Insurance plan and changed her coverage
to an individual plan with the same insurer after her employment was terminated. This
change is called a(n)
crossover
,conversion
exchange
extension of benefits - Answer -Conversion
A life insurance policy becomes incontestable after it has been in forcer for
30 days
6 months
2 years
3 years - Answer -2 years
When family coverage is in place, newborn children are automatically covered under a
medical plan for a period of at least
3 days
10 days
21 days
31 days - Answer -31 days
Typically, Long-term Disability benefits are coordinated with which benefit plan?
Social security
Individual retirement account
Life insurance
Accured sick time - Answer -Social Security
An insurable interest in each other's lives may exist in absence of an economic interest
when the individuals are
Competitors
Business Associates
Marriage partners
,Traveling companions - Answer -Marriage partners
An example of elective surgery (cosmetic) would be?
reconstructive breast surgery after a mastectomy
Removing excess fat from an insured's waistline
Surgery to correct a birth defect
Reconstructive surgery after suffering injuries from an automobile accident. - Answer -
Removing excess fat from an insured's waist line
James is the insured on a life insurance policy where his age was misstated on the
application. Which of the following is correct regarding the death benefit amount?
The original face amount will be paid to the beneficiary
The policy will be voided with no death benefits paid
The death benefit paid will be what the premium would have been if purchased at the
correct age
The amount of premiums paid will be returned with interest - Answer -The death benefit
paid will be what the premium would have been if purchased at the correct age
Which of these will have the highest monthly payout?
Life with period certain
Joint and survivor life
Straight life
Joint life - Answer -Straight life
This MANDATORY health policy provision states that the policy, including
endorsements and attached papers, constitutes
The partial insurance contract between the parties
The entire insurance contract between the parties
The conformity of state statutes
, The legal purpose of the contract - Answer -The entire insurance contract between the
parties
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental
Insurance?
Medicare in-hospital deductible
Dental work
Nutritional Supplements
Chiropractic Care - Answer -Medicare in-hospital deductible
A producer's license in Louisiana must be renewed every...
One Year
Two Years
Three Years
Four Years - Answer -Two Years
An example of naming a beneficiary by class would be
"To the children born of my union with Ned Jackson: David Jackson, Jennifer Jackson,
and Scott Jackson"
"To the child born of my union with Ned Jackson: Scott Jackson"
"To the children born of my union with Ned Jackson"
"To Ned Jackson" - Answer -"To the children born of my union with Ned Jackson."
When an insured under a group of life insurance plan in Louisiana elects the conversion
option, the new policy is issued...
Without requiring evidence of insurability
At the same premium rate as the group benefit amount
With a maximum face amount of two times the group benefit amount
As temporary coverage until the insured becomes eligible under a new group plan. -
Answer -Without requiring evidence of insurability
