Xcel California Life, Accident, and Health
Insurance Final exam actual questions
and answers complete update guide
2023
Who does a life settlement broker represent? - Individual wanting to sell their life policy
to a third party
What is the insurance term the State of California uses for an insurer that is eligible to
transact business in this state? - Admitted
Most U.S. life insurance companies belong to the - Medical Information Bureau
Which of the following healthcare providers provide both the healthcare services and
healthcare coverage? - Health Maintenance Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? -
Traveling overseas with a spouse
Which word implies permissiveness according to the California Insurance Code? - may
When found in California Insurance Code, the word "may" implies permissiveness.
Under a long-term care insurance policy, adult day care coverage will provide for - part
time care at a facility for elderly individuals who live at home
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a - Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the death
benefit accumulate and receive only the monthly investment proceeds. Which
settlement option should she choose? - Interest Option
Reasonably necessary acts that an agent must perform for carrying out his/her
expressly authorized duties are covered by an agent's - Implied authority
Kim is insured under a disability income insurance policy with an "own occupation"
clause. She was recently injured in an automobile accident and can no longer perform
the tasks of her job. Kim is now considered to be - Totally Disabled
What is a common reason people purchase an annuity - To protect against the risk of
outliving their financial resources
, Why is a life insurance policy's delivery date important? - The free-look period begins on
the policy delivery date
Periodic increases in policy benefits are allowed in which long-term care policy
provision? - Inflation Protection
What is the term used to describe the frequency and severity of certain illnesses and
accidents? - Morbidity
Key person insurance is intended to - cover business losses due to death of key
employee
Minimum participation standards exist for group health insurance plans in order to -
prevent adverse selection
Which of the following is NOT included under long-term care insurance? - Hospital
acute care
When calculating life insurance premium rates, which component would an agent's
commission fall under? - Insurer's expenses
The reason for social insurance is to - protect certain vulnerable segments of the
population
Jon's health plan pays benefits of 90% for in-network providers and 70% for out-of-
network providers. What kind of plan is this? - PPO
Which of the following acts is NOT a Federal offense committed by an insurance agent?
- Misrepresentation on an insurance application
An insurer having a large number of similar exposure units is considered important
because - the greater the number insured, the more accurately the insurer can predict
losses and set appropriate premiums
Medical expense policies will typically cover which of the following ? - injuries caused by
accidents
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly
payments for 5 years, Cindy dies. How many remaining payments will the insurer make
to her beneficiary? - 60 payments (10 years annuity received 5 years worth so had 5
years left , multiply the 5 years by 12 months in a year=60)
When does a life insurance policy's waiver of premium take effect? - insured becomes
totally disabled
Insurance Final exam actual questions
and answers complete update guide
2023
Who does a life settlement broker represent? - Individual wanting to sell their life policy
to a third party
What is the insurance term the State of California uses for an insurer that is eligible to
transact business in this state? - Admitted
Most U.S. life insurance companies belong to the - Medical Information Bureau
Which of the following healthcare providers provide both the healthcare services and
healthcare coverage? - Health Maintenance Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? -
Traveling overseas with a spouse
Which word implies permissiveness according to the California Insurance Code? - may
When found in California Insurance Code, the word "may" implies permissiveness.
Under a long-term care insurance policy, adult day care coverage will provide for - part
time care at a facility for elderly individuals who live at home
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a - Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the death
benefit accumulate and receive only the monthly investment proceeds. Which
settlement option should she choose? - Interest Option
Reasonably necessary acts that an agent must perform for carrying out his/her
expressly authorized duties are covered by an agent's - Implied authority
Kim is insured under a disability income insurance policy with an "own occupation"
clause. She was recently injured in an automobile accident and can no longer perform
the tasks of her job. Kim is now considered to be - Totally Disabled
What is a common reason people purchase an annuity - To protect against the risk of
outliving their financial resources
, Why is a life insurance policy's delivery date important? - The free-look period begins on
the policy delivery date
Periodic increases in policy benefits are allowed in which long-term care policy
provision? - Inflation Protection
What is the term used to describe the frequency and severity of certain illnesses and
accidents? - Morbidity
Key person insurance is intended to - cover business losses due to death of key
employee
Minimum participation standards exist for group health insurance plans in order to -
prevent adverse selection
Which of the following is NOT included under long-term care insurance? - Hospital
acute care
When calculating life insurance premium rates, which component would an agent's
commission fall under? - Insurer's expenses
The reason for social insurance is to - protect certain vulnerable segments of the
population
Jon's health plan pays benefits of 90% for in-network providers and 70% for out-of-
network providers. What kind of plan is this? - PPO
Which of the following acts is NOT a Federal offense committed by an insurance agent?
- Misrepresentation on an insurance application
An insurer having a large number of similar exposure units is considered important
because - the greater the number insured, the more accurately the insurer can predict
losses and set appropriate premiums
Medical expense policies will typically cover which of the following ? - injuries caused by
accidents
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly
payments for 5 years, Cindy dies. How many remaining payments will the insurer make
to her beneficiary? - 60 payments (10 years annuity received 5 years worth so had 5
years left , multiply the 5 years by 12 months in a year=60)
When does a life insurance policy's waiver of premium take effect? - insured becomes
totally disabled
