Xcel

XCEL SOLUTIONS - FINAL EXAM LATEST QUESTIONS AND VERIFIED ANSWERS GRADED A+ UPDATED K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where would the death proceeds be directed? Daughter When is a Group Health policy required to provide coverage for a newborn child? At the moment of birth What is the required renewability status of all ...

XCEL NORTH CAROLINA LAWS AND RULES EXAM QUESTIONS WITH COMPLETE VERIFIED ANSWERS GRADED A+ Which of the following is NOT an unfair claim settlement practice? Needing written documentation of claim details Z is an agent who violated the Insurance Information and Privacy Protection Act. Z was then issued and served a statement of charges and notice of hearing by the Commissioner of Insurance. Z's hearing date must be at least ____ days after service of charges. 10 K sent a renewal premium ...

XCEL CHAPTER 14 DISABILITY INSURANCE EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ what is the elimination period of an individual Disability Policy? time period A disabled person must wait before benefits are paid typically, long term disability benefits are coordinated with which Benefit Plan? social security the factor used most often when underwriting a disability income policy is annual earnings Tyler purchased a Disability Policy with a waiver of premium Rider on April...

XCEL LIFE POLICIES EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ Which type of multiple protection policy pays on the death of the last person? A. Joint Life Policy B. Dual Life Policy C. Multiple Life Policy D. Survivorship Life Policy D. Survivorship Life Policy A policyowner may change two policy features on what type of life insurance? A. Adjustable Life B. Modified Whole Life C. Decreasing Term Life D. Whole Life A. Adjustable Life Adjustable Life allows t...

XCEL CHAPTER 8 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ Which of the following statements regarding equity index contract factors is most CORRECT? Cash values of equity index contracts typically grow at a minimum interest rate. Which of the following is a fair comparison between life insurance and annuities? Both life insurance and annuities use mortality tables Variable annuity payouts are adjusted based upon which of the following? Annuity units

XCEL CHAPTER 1 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ the fair credit and Reporting Act main purpose is to protect consumers with guidelines regarding credit reporting and distribution a plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called a self-funded plan what kind of life insurance policy issued by a mutual insurer provides a return of divisible Surplus? participating life insurance policy why...

XCEL TEST LIFE & HEALTH EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED A policy that becomes a Modified Endowment Contract (MEC): will loose many of its tax advantages All of these are characteristics of an Adjustable Life policy, EXCEPT: face amount can be adjusted using policy dividends The most important factor to consider when determining whether to convert term insurance at the insured's attained age or the insured's original age is: the cost F needs life insurance that provi...

XCEL CHAPTER 13 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED An example of a presumptive disability would be A. a stroke B. deafness C. diabetes D. cancer deafness Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind of rider is this? A. Waiver of premium rider B. Guaranteed benefit rider C. Payor benefit rider D. Guaranteed insurability rider Guaranteed insurability rider Which type of disabilit...

XCEL CHAPTER 17 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED AND GRADED A+ Which of these characteristics of an applicant is NOT taken into consideration when assessing risk for Disability coverage? A. health of applicant B. gender of applicant C. number of children D. occupation of applicant number of children Which of the following is a requirement for ANY change in an insurance application? A. Change must be initialed by the agent B. Change must be initialed by the applicant C....

XCEL CHAPTER 11 -EXAM QUESTIONS AND ANSWERS GRADED A+ If there is suspicion of an unauthorized person engaging in insurance business without being licensed. When may the commissioner issue an emergency cease and desist order? Reviewing and approving license applications Which of the following is a duty of the commissioner? The licensee's total premiums on controlled business exceeded the total premiums on all other business. A license is deemed to be used for controlled business if duri...

XCEL CHAPTER 12 ACTUAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS AND VERIFIED ANSWERS GRADED A+ All of the following doctors provide primary care to health insuring corporation (HIC) members EXCEPT? A. Internists B. Surgeons C. General practitioners D. Pediatricians Surgeons Donna and Mary were racing bicycles in a store parking lot while being cheered on by fellow employees. Mary ran into John, another employee, who happened to be taking out the garbage. Both Mary and John are injured. Wh...

XCEL FINAL EXAM 2024 QUESTIONS AND VERIFIED CORRECT ANSWERS LATEST UPDATE 100% RATED FOR PASS GRADED A+ Typically, Long-Term Disability benefits are coordinated with which benefit plan? Social Security The focus of major medical insurance is providing coverage for medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? $200 beca...

XCEL CHAPTER 15 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called A. adult day care B. home health care C. skilled nursing care D. custodial care skilled nursing care Long-Term Care policies may provide coverage for claims arising from A. senile dementia B. acute care in hospital C. alcoholism D. drug addiction senile dementia Which of the following stat...

XCEL CHAPTER 7 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ When does a life insurance policy typically become effective? A. When the policy is issued B. When initial premium is collected and policy is issued C. When the application is completed and signed D. When the completed application is signed and initial premium is collected When initial premium is collected and policy is issued What is the purpose of the Medical Information Bureau (MIB)? A. To accept or decline i...

XCEL CHAPTER 6 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the? A. estate of the insured only B. estate of the deceased beneficiaries only C. named contingent beneficiaries only D. named living primary beneficiaries named living primary beneficiaries Mortality is calculated by using a large risk pool of? A. hobbies and time B. people and time C. family history and geog...

XCEL CHAPTER 9 EXAM QUESTIONS WITH COMPLETE VERIFIED SOLUTIONS LATEST UPDATE Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? A. Payout period B. Accumulation period C. Deferred period D. Growth period Accumulation period Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called? variable payout fixed accumulation interest guaranteed annuity certain Ann...

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