Xcel

XCEL CHAPTER 4 A EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED Rob purchased a standard whole life policy with a $500,000 death benefit when he was age 30. His insurance agent told him the policy would be paid up if he reached age 100. The present cash value of the policy equals $250,000. Rob recently died at age 60. The death benefit would be 500,000.00 A life insurance policy that has premiums fully paid up within a stated time period is called limited payment insurance A Modified End...

XCEL CHAPTER 11 EXAM QUESTIONS AND VERIFIED CORRECT ANSWERS GRADED A+ What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do? A. In the event of employment termination, group health insurance can be kept if the employee pays the premiums B. Receive a tax credit to help offset the cost of health insurance C. Remain on their current coverage for 30 months D. In the event of employment termination, group health insurance can be kept if the employ...

XCEL CHAPTER 4 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ 100% GUARANTEED PASS Donald is the primary insured of a life insurance policy and adds a children's term rider. What is the advantage of adding this rider? A. Can be converted to permanent coverage without evidence of insurability B. Coverage can be different for each child C. Premiums on this rider are not required until the limiting age is reached D. Increases the policy's overall cash value Can be converted to ...

XCEL CHAPTER 5 EXAM WITH COMPLETE SOLUTIONS 100% SOLVED ALREADY PASSED A non-contributory health insurance plan helps the insurer avoid? A. adverse selection B. state compliance C. the underwriting process D. tax deductions adverse selection All of the following are characteristics of a Group Life Insurance Plan EXCEPT? A. Group underwriting B. Master contract C. Individual underwriting D. Probationary period Individual underwriting

XCEL CHAPTER 10 EXAM QUESTIONS WITH COMPLETE SOLUTIONS CERIFIED GRADED A+ Which of the following is NOT a federal requirement of a qualified plan? A. Must benefit a broad cross-section of employees B. Employee must be able to make unlimited contributions C. Vesting schedule must be defined D. Employer establishes the plan Employee must be able to make unlimited contributions Which of the following employers is required to follow ERISA regulations? A. A local government with 150 employ...

XCEL CHAPTER 3 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED Which contract element is insurable interest a component of? A. Competent parties B. Offer and acceptance C. Consideration D. Legal purpose Legal purpose In an insurance contract, the element that shows each party is giving something of value is called? A. offer B. acceptance C. consideration D. purpose Consideration What makes an insurance policy a unilateral contract? A. Only the insured pays the premium B. Only t...

XCEL CHAPTER 3 EXAM QUESTIONS AND VERIFIED CORRECT ANSWERS GRADED A+ Ambiguities in an insurance policy are always resolved in favor of the insured The authority granted to a licensed producer is provided via the law of agency ______ is NOT an element of a valid contract. countersignature Insurable interest does NOT occur in which of the following relationships? business ower and business client What is implied authority defined as? Authority that is not specifically given to an agent ...

XCEL CHAPTER 2 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE An example of risk sharing would be? A. Adding more security to a high-risk building B. Choosing not to invest in the stock market C. Doctors pooling their money to cover malpractice exposures D. Buying an insurance policy to cover potential liabilities Doctors pooling their money to cover malpractice exposures Insurance represents the process of risk? A. selection B. avoidance C. transference D. assumption...

XCEL SOLUTIONS PROPERTY & CASUALTY EXAM QUESTIONS WITH COMPLETE 100% VERIFIED SOLUTIONS GRADED A+ An earned premium resulting from the cancellation of a policy is calculated on: On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: Excess Direct Coverage An insurance company writing business in a state other than the on...

Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 ACTUAL EXAM 500 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - CORRECT ANSWER insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has be...