XCEL Life and Health Insurance Test Review
questions with verified answers
Period Certain Ans✔✔-Which annuity payout option allows the policy
owner to choose a pre-determined number of benefit payments?
Life only annuity Ans✔✔-Which annuity payout option has no additional
payouts regardless of when the annuitant dies
Errors and Omissions Ans✔✔-a professional liability for which
producers can be sued for mistakes of putting a policy into effect
irrevocable beneficiary Ans✔✔-requires the beneficiary's signature for
any change to the beneficiary
representations Ans✔✔-statements made by an insurance applicant on an
application
a specified amount of money Ans✔✔-life insurance policies guarantee
the beneficiary what upon the death of the insured
Endodontics Ans✔✔-common exclusion on a dental policy
Home health care Ans✔✔-Which type of long-term care benefit would
be most appropriate for a stroke victim who requires speech therapy
administered at her home?
,March 23, 2010 Ans✔✔-According to the Affordable Care Act, any plan
in existence prior to which date is considered a grandfathered plan?
Social Security Disability Income (SSDI) Ans✔✔-Which of the
following is NOT a type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) Ans✔✔-Coordination of
Benefits regulation applies to all of the following plans EXCEPT
30 days Ans✔✔-Both long-term care insurance and Medicare
Supplement policies may be returned by the insured for a full refund
within
Hospital Indemnity Ans✔✔-Which type of coverage pays an amount per
day for hospitalization directly to the insured regardless of the insured's
other health insurance?
Limited Policies Ans✔✔-Low frequency diseases can be exclusively
covered by what kind of health insurance policies?
Work-related Ans✔✔-What type of injury would NOT be covered under
a health insurance policy?
,It would be considered taxable income to the employee Ans✔✔-Without
a Section 125 Plan in place, what would happen to an employee's payroll
contribution to an HSA?
a policy that is paid up after only one payment Ans✔✔-A single
premium cash value policy can be described as
Must have Medicare coverage Ans✔✔-How does one become eligible
for Part D: Prescription Drug coverage?
root canal Ans✔✔-An example of endodontic treatment is a
US Attorney General Ans✔✔-Under US Code 1033, crimes by or
affecting persons engaged in the business of insurance which affect
interstate commerce are prosecuted by the
Mortality costs Ans✔✔-What would be an expense factor in an insurance
program?
Insurer Ans✔✔-Which of the following signatures is not required on an
individual insurance application?
outpatient medical services Ans✔✔-All of the following are defined as
supplemental health insuring corporation (HIC) services EXCEPT
, upper limit of the total lifetime benefits the insurance company will pay
Ans✔✔-"Maximum benefits" refers to the
the beneficiary Ans✔✔-Signatures for an insurance application MUST
be obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated Ans✔✔-What happens to the coverage under a
children's term rider when that child reaches a certain specified age?
increase the premiums on an individual basis Ans✔✔-Which of the
following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent Ans✔✔-When the
superintendent believes an agent is causing substantial and material
harm, the superintendent has the authority to
A good health statement Ans✔✔-Upon policy delivery, which of the
following must a producer have an applicant sign if no initial premium
was collected with the life insurance application?
Hedge against inflation Ans✔✔-Index whole life insurance contains a
securities component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries Ans✔✔-
Which of the following statements regarding Group Disability Income
insurance is TRUE?
questions with verified answers
Period Certain Ans✔✔-Which annuity payout option allows the policy
owner to choose a pre-determined number of benefit payments?
Life only annuity Ans✔✔-Which annuity payout option has no additional
payouts regardless of when the annuitant dies
Errors and Omissions Ans✔✔-a professional liability for which
producers can be sued for mistakes of putting a policy into effect
irrevocable beneficiary Ans✔✔-requires the beneficiary's signature for
any change to the beneficiary
representations Ans✔✔-statements made by an insurance applicant on an
application
a specified amount of money Ans✔✔-life insurance policies guarantee
the beneficiary what upon the death of the insured
Endodontics Ans✔✔-common exclusion on a dental policy
Home health care Ans✔✔-Which type of long-term care benefit would
be most appropriate for a stroke victim who requires speech therapy
administered at her home?
,March 23, 2010 Ans✔✔-According to the Affordable Care Act, any plan
in existence prior to which date is considered a grandfathered plan?
Social Security Disability Income (SSDI) Ans✔✔-Which of the
following is NOT a type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) Ans✔✔-Coordination of
Benefits regulation applies to all of the following plans EXCEPT
30 days Ans✔✔-Both long-term care insurance and Medicare
Supplement policies may be returned by the insured for a full refund
within
Hospital Indemnity Ans✔✔-Which type of coverage pays an amount per
day for hospitalization directly to the insured regardless of the insured's
other health insurance?
Limited Policies Ans✔✔-Low frequency diseases can be exclusively
covered by what kind of health insurance policies?
Work-related Ans✔✔-What type of injury would NOT be covered under
a health insurance policy?
,It would be considered taxable income to the employee Ans✔✔-Without
a Section 125 Plan in place, what would happen to an employee's payroll
contribution to an HSA?
a policy that is paid up after only one payment Ans✔✔-A single
premium cash value policy can be described as
Must have Medicare coverage Ans✔✔-How does one become eligible
for Part D: Prescription Drug coverage?
root canal Ans✔✔-An example of endodontic treatment is a
US Attorney General Ans✔✔-Under US Code 1033, crimes by or
affecting persons engaged in the business of insurance which affect
interstate commerce are prosecuted by the
Mortality costs Ans✔✔-What would be an expense factor in an insurance
program?
Insurer Ans✔✔-Which of the following signatures is not required on an
individual insurance application?
outpatient medical services Ans✔✔-All of the following are defined as
supplemental health insuring corporation (HIC) services EXCEPT
, upper limit of the total lifetime benefits the insurance company will pay
Ans✔✔-"Maximum benefits" refers to the
the beneficiary Ans✔✔-Signatures for an insurance application MUST
be obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated Ans✔✔-What happens to the coverage under a
children's term rider when that child reaches a certain specified age?
increase the premiums on an individual basis Ans✔✔-Which of the
following actions may an insurance company NOT do in a health policy
that contains a guaranteed renewable premium benefit?
issue a cease and desist order against the agent Ans✔✔-When the
superintendent believes an agent is causing substantial and material
harm, the superintendent has the authority to
A good health statement Ans✔✔-Upon policy delivery, which of the
following must a producer have an applicant sign if no initial premium
was collected with the life insurance application?
Hedge against inflation Ans✔✔-Index whole life insurance contains a
securities component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries Ans✔✔-
Which of the following statements regarding Group Disability Income
insurance is TRUE?
