Xcel Life, Accident, Health License Exam Questions and
Answers 2023;full test bank with complete solution
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age
A deceased worker's dependent parents of any age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect insurance
companies from?
adverse selection
The open enrollment period for Medicare Part B is...
January 1 through March 31
The period in which there are no social security benefits for the surviving spouse is
called
Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches age
60 at the earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration
Countersignature
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a(n)
- Limitation
- Exclusion
- Capitation
- Deductible
Deductible
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived
The Policy's effective date is earlier than the present
,which of the following does restorative dental treamtent cover?
- crowns
- cleanings
- xrays
- dentures
crowns
Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received
Based on the date an individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value
Specified amount of money
Which type of life insurance offers flexible premiums, a flexible death benefit, and the
choice of how the cash value will be invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy
Variable universal policy
Which of these premium payment frequencies is not typically available to a
policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly
Bi-weekly
According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year
participation or contribution rules have been violated
,The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population
Protect certain vulnerable segments of the population
Failure to report background changes with 30 days as required under section 1729.2 of
the California insurance code could subject a license or applicant to
- Suspension
- Denial
- Fine
- All of these
all of these
According to PPACA, what is a health benefits exchange?
- An entity that offers affordable health coverage to only those with low incomes
- An entity where existing policies can be converted to new policies
- An entity that provides tax credits to employers for providing health insurance to their
employees
- An entity to which individuals an d small businesses can have access to affordable
health coverage
an entity to which individuals and small businesses can have access to affordable
health coverage
An insurer has the right to recover payment made to the insured from the negligent
party. These rights are called
- Estoppel
- Contributory
- Indemnity
- Subrogation
subrogation
what is the nonforfeiture value of an annuity before annuitization?
- All premiums paid, plus interest, minus any withdrawals and surrender charges
- All premiums paid
- All premiums paid minus any withdrawals and surrender charges
- All premiums paid plus interest
All premiums paid, plus interest, minus any withdrawals and surrender charges
Shawn, Mike, and Dave are borhters who have a $100,000 "first to die" joint life policy
covering all three of their lives. If mike dies first, the policy proceeds
- Will be divided by probate
- Will go to mike's estate
, - Will no longer provide insurance protection
- Will not be paid until the last brother dies
Will no longer provide insurance protection
What will the beneficiary receive if an annuitant dies during the accumulation period?
- The lesser of the accumulated cash value or the total premium paid
- The interest earned on the accumulated cash value
- The greater of the accumulated cash value or the total premium paid
- nothing
The greater of the accumulated cash value or the total premium paid
Julie has a $100,000 30-year mortgage on her new home. What type of life insurance
could she purchase that is designed to pay off the loan balance if she dies within the 30-
year period?
- Decreasing term insurance
- Adjustable life insurance
- Modified life insurance
- Increasing term insurance
Decreasing term insurance
A hospital or medical expense policy will typically cover dental treatment expenses
under which circumstances?
- Cosmetic dental treatment is performed
- After an annual limit of dental policy's coverage is reached
- Dental treatment is needed to repair an injury
- If treatment is performed at an in-network provider
Dental treatment is needed to repair an injury
What does the term "illustration" mean when used in the phrase "life insurance policy
illustration," according to the California insurance code?
- Presentation of policy features that includes non-guaranteed elements
- A copy of the terms given for the free-look period
- Publication designed to help an applicant reach an informed decision about which
coverage is appropriate
- A copy of the sales materials used in an insurance transaction
Presentation of policy features that includes non-guaranteed elements
Which type of business insurance is meant to cover the costs of continuing to do
business while the owner is disabled?
- Business continuation policy
- Business overhead expense policy
- Disability overhead policy
- Disability buy-sell policy
Business overhead expense policy
The role of the federal government was expanded when Medicaid was established by
allowing the state to
Answers 2023;full test bank with complete solution
who is not eligible for social security survivor benefits?
A. Full-time students under the age of 19
B. A deceased worker's dependent parents of any age
C. A widow at any age who is caring for children younger than 16
D. A widow at full retirement age
A deceased worker's dependent parents of any age
(must be at least 62 years old)
what does the group life underwriting risk selection process help protect insurance
companies from?
adverse selection
The open enrollment period for Medicare Part B is...
January 1 through March 31
The period in which there are no social security benefits for the surviving spouse is
called
Blackout period
(begins when the youngest child turns 16 and continues until the spouse reaches age
60 at the earliest)
____ is NOT an element of a valid contract?
A. countersignature
B. legal
C. competent parties
D. consideration
Countersignature
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a(n)
- Limitation
- Exclusion
- Capitation
- Deductible
Deductible
What happens when an insurance policy is backdated?
- The policy's probation period is earlier than the present
- The policy's effective date is earlier than the present
- The time frame from reinstating a lapsed policy is extended
- The policy's elimination period is waived
The Policy's effective date is earlier than the present
,which of the following does restorative dental treamtent cover?
- crowns
- cleanings
- xrays
- dentures
crowns
Under what order are people on the MRMIP waiting list allowed to enroll?
- Priority is give to those with the most serious health issues
- Based on the individual's date of birth
- Priority is given to California residents
- Based on the date an individual's application is received
Based on the date an individual's application is received
What does a life insurance policy guarantee to the stated beneficiary upon the death of
the insured?
- Funeral expense fund
- Specified amount of money
- Policy dividend
- Policy's cash value
Specified amount of money
Which type of life insurance offers flexible premiums, a flexible death benefit, and the
choice of how the cash value will be invested?
- Modified whole life policy
- Adjustable life policy
- Universal policy
- Variable universal policy
Variable universal policy
Which of these premium payment frequencies is not typically available to a
policyowner?
- Quarterly
- Semi-annual
- Bi-weekly
- Monthly
Bi-weekly
According to HIPAA, when can a group health policy renewal be denied?
- Participation or contribution rules have been changed
- The size of the group has increased by more than 10%
- participation or contribution rules have been violated
- There have been too many claims in the previous year
participation or contribution rules have been violated
,The reason for social insurance is to
- Create dependents of government
- Provide more products for agents to sell
- Grow the U/S economy
- Protect certain vulnerable segments of the population
Protect certain vulnerable segments of the population
Failure to report background changes with 30 days as required under section 1729.2 of
the California insurance code could subject a license or applicant to
- Suspension
- Denial
- Fine
- All of these
all of these
According to PPACA, what is a health benefits exchange?
- An entity that offers affordable health coverage to only those with low incomes
- An entity where existing policies can be converted to new policies
- An entity that provides tax credits to employers for providing health insurance to their
employees
- An entity to which individuals an d small businesses can have access to affordable
health coverage
an entity to which individuals and small businesses can have access to affordable
health coverage
An insurer has the right to recover payment made to the insured from the negligent
party. These rights are called
- Estoppel
- Contributory
- Indemnity
- Subrogation
subrogation
what is the nonforfeiture value of an annuity before annuitization?
- All premiums paid, plus interest, minus any withdrawals and surrender charges
- All premiums paid
- All premiums paid minus any withdrawals and surrender charges
- All premiums paid plus interest
All premiums paid, plus interest, minus any withdrawals and surrender charges
Shawn, Mike, and Dave are borhters who have a $100,000 "first to die" joint life policy
covering all three of their lives. If mike dies first, the policy proceeds
- Will be divided by probate
- Will go to mike's estate
, - Will no longer provide insurance protection
- Will not be paid until the last brother dies
Will no longer provide insurance protection
What will the beneficiary receive if an annuitant dies during the accumulation period?
- The lesser of the accumulated cash value or the total premium paid
- The interest earned on the accumulated cash value
- The greater of the accumulated cash value or the total premium paid
- nothing
The greater of the accumulated cash value or the total premium paid
Julie has a $100,000 30-year mortgage on her new home. What type of life insurance
could she purchase that is designed to pay off the loan balance if she dies within the 30-
year period?
- Decreasing term insurance
- Adjustable life insurance
- Modified life insurance
- Increasing term insurance
Decreasing term insurance
A hospital or medical expense policy will typically cover dental treatment expenses
under which circumstances?
- Cosmetic dental treatment is performed
- After an annual limit of dental policy's coverage is reached
- Dental treatment is needed to repair an injury
- If treatment is performed at an in-network provider
Dental treatment is needed to repair an injury
What does the term "illustration" mean when used in the phrase "life insurance policy
illustration," according to the California insurance code?
- Presentation of policy features that includes non-guaranteed elements
- A copy of the terms given for the free-look period
- Publication designed to help an applicant reach an informed decision about which
coverage is appropriate
- A copy of the sales materials used in an insurance transaction
Presentation of policy features that includes non-guaranteed elements
Which type of business insurance is meant to cover the costs of continuing to do
business while the owner is disabled?
- Business continuation policy
- Business overhead expense policy
- Disability overhead policy
- Disability buy-sell policy
Business overhead expense policy
The role of the federal government was expanded when Medicaid was established by
allowing the state to
