Xcel Life Insurance Exam 2023 Actual Test Questions and
Answers with complete solution
Replacement regulation is designed to protect
Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide
Preventative health services
Which of these will have the highest monthly payout upon annuitization
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison?
Clauses
Which of the following is considered to be an alternative to a life settlement?
Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid?
Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT
Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents?
Human life value approach
Which of the following policies does NOT build cash value?
Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death?
Human life value
The free look period provided in a life insurance policy is usually
10 days
What does "SHOP" stand in SHOP Exchange?
Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n)
master policy
Which of the following is NOT covered under Workers' Compensation?
Pain and suffering
Which of the following provides Medicare supplement policies?
Private insurance companies
A life settlement intermediary is a(n)
association which maintains a facility that displays offers and counteroffers for
purchasers or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made?
Refund annuity
, The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant.
Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to
avoid overpayment of claims
Medicaid is intended for
poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n)
collateral assignment
A disability policy where the premiums are due monthly require a grace period of
10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of
twisting
Which type of annuity stops all payments upon the death of the annuitant?
Life annuity
Decreasing term life insurance is often used to
provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured?
Specified amount of money
Major medical insurance will typically cover medical expenses that result from
a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage
1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n)
accident
Life insurance policies will normally pay for losses arising from
commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be
found in which document?
Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home?
Home health care
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called?
Benefit period
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status?
The insurer significantly raises co-insurance charges, deductibles, or co-payment
charges
Answers with complete solution
Replacement regulation is designed to protect
Policyowners from mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide
Preventative health services
Which of these will have the highest monthly payout upon annuitization
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison?
Clauses
Which of the following is considered to be an alternative to a life settlement?
Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid?
Benefits are limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT
Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents?
Human life value approach
Which of the following policies does NOT build cash value?
Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death?
Human life value
The free look period provided in a life insurance policy is usually
10 days
What does "SHOP" stand in SHOP Exchange?
Small Business Health Options Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n)
master policy
Which of the following is NOT covered under Workers' Compensation?
Pain and suffering
Which of the following provides Medicare supplement policies?
Private insurance companies
A life settlement intermediary is a(n)
association which maintains a facility that displays offers and counteroffers for
purchasers or sellers of life settlement contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made?
Refund annuity
, The is responsible for determining the appropriateness of a Medicare Supplement policy
for an applicant.
Agent
The purpose of the Coordination of Benefits provision in group accident and health
plans is to
avoid overpayment of claims
Medicaid is intended for
poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n)
collateral assignment
A disability policy where the premiums are due monthly require a grace period of
10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of
twisting
Which type of annuity stops all payments upon the death of the annuitant?
Life annuity
Decreasing term life insurance is often used to
provide coverage for a home mortgage
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured?
Specified amount of money
Major medical insurance will typically cover medical expenses that result from
a negative reaction to prescribed medication
The typical long-term care insurance policy is designed to provide a minimum
of__________ year(s) of coverage
1
The double indemnity provision in a life insurance policy pertains to an insured's death
caused by a(n)
accident
Life insurance policies will normally pay for losses arising from
commercial aviation
The coverage, conditions, and limitations in the master policy of a group contract can be
found in which document?
Certificate of coverage and benefits
Which type of long-term care benefit would be most appropriate for a stroke victim who
requires speech therapy administered at her home?
Home health care
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called?
Benefit period
Under the Affordable Care Act, how would a grandfathered health plan lose its
grandfathered status?
The insurer significantly raises co-insurance charges, deductibles, or co-payment
charges
