Xcel Solutions Final Exam Prep (2024/ 2025) Questions
and Verified Answers| 100% Correct| Grade A
A partial surrender is allowed in which of the following life policies? -
ANSWERUniversal life
All of the following riders can increase the death benefit amount EXCEPT -
ANSWERWaiver of Premium
A health insurance policy where the insurer has the right to terminate the policy fr
reasons other than the insureds health is called - ANSWERConditionally Renewable
A proposed insured for a health insurance policy was treated for heart disease within
the past year. When applying for health insurance, the heart disease treatment -
ANSWERIndicates a preexisting condition
How do interest earnings accumulated in a deferred annuity - ANSWEROn a tax-
deferred basis
Which of the following statements is NOT true regarding a Critical Illness Plan -
ANSWERCoverage is limited to a single devastating disease
Which of these is a TRUE statement regarding HIC's - ANSWERHIC's operate on a
prepayment basis
James is insured on a life insurance policy where his age was misstated on the
application. Which of the following is CORRECT regarding the death benefit amount?
- ANSWERThe death benefit paid will be what the premium would have purchased at
the correct age
How son can the benefit payments begin with a deferred annuity? - ANSWERA
minimum of 12 months after date of purchase
An individual covered under a Blue Cross Blue Shield plan is called a(n) -
ANSWERParticipant
The policyholder for a group health benefit plan is considered to be the -
ANSWEREmployer
Intentional withholding of material facts would affect an insurance policies validity is
called a(n) - ANSWERConcealment
An example of a health insuring corporation (HIC) specialty care provider is a(n) -
ANSWERNeurologist
, Which of the following is NOT typically included under "hospital care" for most
health insuring corporation (HIC) plans? - ANSWERPrivate duty nursing
An insurance producer is often responsible for field underwriting during the
application process. All fo these are possible field underwriting roles EXCEPT -
ANSWERProviding commission information to the applicant
All of these are considered sources of information that can assist an underwriter in
determining whether or not to accept a risk EXCEPT - ANSWERNational Association
of Insurance Underwriters
What is the contract called that is issued to an employer for a Group Medical
Insurance plan? - ANSWERMaster policy
An example of a presumptive disability would be - ANSWERdeafness
Which approach predicts a persons earning potential and determines how much of
that amount would be devoted to dependents? - ANSWERHuman life value approach
If the beneficiary dies from the same accident as the insured individual, the insurer
will proceed as if - ANSWERthe insured outlived the beneficiary
An insurer can exclude coverage for a preexisting condition on a Medicare
Supplement policy for up to - ANSWER6 months
Who provides all preventative and routine medical care given to a health insuring
corporation
(HIC) member? - ANSWERPrimary Care Physician
Which of these is NOT a qualifying event for a Medicare? - ANSWERFalling below the
federal poverty level
A plan in which an employer pays insurance benefits from a fund derived from the
employers current revenues is called - ANSWERA self - funded plan
All of the following riders can increase the death benefit amount EXCEPT -
ANSWERWaiver of Premium
A beneficiary change can occur: - ANSWERNormally at any time during the policy
term
Maria is a PPO (preferred provider organization subscriber and received care from an
out of networks provider. Which of the following is the likely result? - ANSWERCare
is covered
Benefits provided by a Medicare Supplement policy must NOT - ANSWERDuplicate
Medicare benefits
and Verified Answers| 100% Correct| Grade A
A partial surrender is allowed in which of the following life policies? -
ANSWERUniversal life
All of the following riders can increase the death benefit amount EXCEPT -
ANSWERWaiver of Premium
A health insurance policy where the insurer has the right to terminate the policy fr
reasons other than the insureds health is called - ANSWERConditionally Renewable
A proposed insured for a health insurance policy was treated for heart disease within
the past year. When applying for health insurance, the heart disease treatment -
ANSWERIndicates a preexisting condition
How do interest earnings accumulated in a deferred annuity - ANSWEROn a tax-
deferred basis
Which of the following statements is NOT true regarding a Critical Illness Plan -
ANSWERCoverage is limited to a single devastating disease
Which of these is a TRUE statement regarding HIC's - ANSWERHIC's operate on a
prepayment basis
James is insured on a life insurance policy where his age was misstated on the
application. Which of the following is CORRECT regarding the death benefit amount?
- ANSWERThe death benefit paid will be what the premium would have purchased at
the correct age
How son can the benefit payments begin with a deferred annuity? - ANSWERA
minimum of 12 months after date of purchase
An individual covered under a Blue Cross Blue Shield plan is called a(n) -
ANSWERParticipant
The policyholder for a group health benefit plan is considered to be the -
ANSWEREmployer
Intentional withholding of material facts would affect an insurance policies validity is
called a(n) - ANSWERConcealment
An example of a health insuring corporation (HIC) specialty care provider is a(n) -
ANSWERNeurologist
, Which of the following is NOT typically included under "hospital care" for most
health insuring corporation (HIC) plans? - ANSWERPrivate duty nursing
An insurance producer is often responsible for field underwriting during the
application process. All fo these are possible field underwriting roles EXCEPT -
ANSWERProviding commission information to the applicant
All of these are considered sources of information that can assist an underwriter in
determining whether or not to accept a risk EXCEPT - ANSWERNational Association
of Insurance Underwriters
What is the contract called that is issued to an employer for a Group Medical
Insurance plan? - ANSWERMaster policy
An example of a presumptive disability would be - ANSWERdeafness
Which approach predicts a persons earning potential and determines how much of
that amount would be devoted to dependents? - ANSWERHuman life value approach
If the beneficiary dies from the same accident as the insured individual, the insurer
will proceed as if - ANSWERthe insured outlived the beneficiary
An insurer can exclude coverage for a preexisting condition on a Medicare
Supplement policy for up to - ANSWER6 months
Who provides all preventative and routine medical care given to a health insuring
corporation
(HIC) member? - ANSWERPrimary Care Physician
Which of these is NOT a qualifying event for a Medicare? - ANSWERFalling below the
federal poverty level
A plan in which an employer pays insurance benefits from a fund derived from the
employers current revenues is called - ANSWERA self - funded plan
All of the following riders can increase the death benefit amount EXCEPT -
ANSWERWaiver of Premium
A beneficiary change can occur: - ANSWERNormally at any time during the policy
term
Maria is a PPO (preferred provider organization subscriber and received care from an
out of networks provider. Which of the following is the likely result? - ANSWERCare
is covered
Benefits provided by a Medicare Supplement policy must NOT - ANSWERDuplicate
Medicare benefits
