XCEL Life and Health Insurance Test Review Questions
and Answers 100% Success
Period Certain - Correct AnswersWhich annuity payout option allows the policy owner to
choose a pre-determined number of benefit payments?
Life only annuity - Correct AnswersWhich annuity payout option has no additional payouts
regardless of when the annuitant dies
Errors and Omissions - Correct Answersa professional liability for which producers can be
sued for mistakes of putting a policy into effect
irrevocable beneficiary - Correct Answersrequires the beneficiary's signature for any
change to the beneficiary
representations - Correct Answersstatements made by an insurance applicant on an
application
a specified amount of money - Correct Answerslife insurance policies guarantee the
beneficiary what upon the death of the insured
Endodontics - Correct Answerscommon exclusion on a dental policy
Home health care - Correct AnswersWhich 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 - Correct AnswersAccording to the Affordable Care Act, any plan in
existence prior to which date is considered a grandfathered plan?
,Social Security Disability Income (SSDI) - Correct AnswersWhich of the following is NOT a
type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) - Correct AnswersCoordination of Benefits
regulation applies to all of the following plans EXCEPT
30 days - Correct AnswersBoth long-term care insurance and Medicare Supplement
policies may be returned by the insured for a full refund within
Hospital Indemnity - Correct AnswersWhich type of coverage pays an amount per day for
hospitalization directly to the insured regardless of the insured's other health insurance?
Limited Policies - Correct AnswersLow frequency diseases can be exclusively covered by
what kind of health insurance policies?
Work-related - Correct AnswersWhat type of injury would NOT be covered under a health
insurance policy?
It would be considered taxable income to the employee - Correct AnswersWithout 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 - Correct AnswersA single premium cash
value policy can be described as
Must have Medicare coverage - Correct AnswersHow does one become eligible for Part D:
Prescription Drug coverage?
root canal - Correct AnswersAn example of endodontic treatment is a
US Attorney General - Correct AnswersUnder US Code 1033, crimes by or affecting
persons engaged in the business of insurance which affect interstate commerce are
prosecuted by the
, Mortality costs - Correct AnswersWhat would be an expense factor in an insurance
program?
Insurer - Correct AnswersWhich of the following signatures is not required on an individual
insurance application?
outpatient medical services - Correct AnswersAll 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 - Correct
Answers"Maximum benefits" refers to the
the beneficiary - Correct AnswersSignatures for an insurance application MUST be
obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated - Correct AnswersWhat 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 - Correct AnswersWhich 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 - Correct AnswersWhen the
superintendent believes an agent is causing substantial and material harm, the
superintendent has the authority to
A good health statement - Correct AnswersUpon 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 - Correct AnswersIndex whole life insurance contains a securities
component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries - Correct AnswersWhich of
the following statements regarding Group Disability Income insurance is TRUE?
and Answers 100% Success
Period Certain - Correct AnswersWhich annuity payout option allows the policy owner to
choose a pre-determined number of benefit payments?
Life only annuity - Correct AnswersWhich annuity payout option has no additional payouts
regardless of when the annuitant dies
Errors and Omissions - Correct Answersa professional liability for which producers can be
sued for mistakes of putting a policy into effect
irrevocable beneficiary - Correct Answersrequires the beneficiary's signature for any
change to the beneficiary
representations - Correct Answersstatements made by an insurance applicant on an
application
a specified amount of money - Correct Answerslife insurance policies guarantee the
beneficiary what upon the death of the insured
Endodontics - Correct Answerscommon exclusion on a dental policy
Home health care - Correct AnswersWhich 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 - Correct AnswersAccording to the Affordable Care Act, any plan in
existence prior to which date is considered a grandfathered plan?
,Social Security Disability Income (SSDI) - Correct AnswersWhich of the following is NOT a
type of Medicare Advantage Plan?
Preferred Provider Organization plan (PPO) - Correct AnswersCoordination of Benefits
regulation applies to all of the following plans EXCEPT
30 days - Correct AnswersBoth long-term care insurance and Medicare Supplement
policies may be returned by the insured for a full refund within
Hospital Indemnity - Correct AnswersWhich type of coverage pays an amount per day for
hospitalization directly to the insured regardless of the insured's other health insurance?
Limited Policies - Correct AnswersLow frequency diseases can be exclusively covered by
what kind of health insurance policies?
Work-related - Correct AnswersWhat type of injury would NOT be covered under a health
insurance policy?
It would be considered taxable income to the employee - Correct AnswersWithout 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 - Correct AnswersA single premium cash
value policy can be described as
Must have Medicare coverage - Correct AnswersHow does one become eligible for Part D:
Prescription Drug coverage?
root canal - Correct AnswersAn example of endodontic treatment is a
US Attorney General - Correct AnswersUnder US Code 1033, crimes by or affecting
persons engaged in the business of insurance which affect interstate commerce are
prosecuted by the
, Mortality costs - Correct AnswersWhat would be an expense factor in an insurance
program?
Insurer - Correct AnswersWhich of the following signatures is not required on an individual
insurance application?
outpatient medical services - Correct AnswersAll 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 - Correct
Answers"Maximum benefits" refers to the
the beneficiary - Correct AnswersSignatures for an insurance application MUST be
obtained by the producer from all of the following sources EXCEPT
Coverage is eliminated - Correct AnswersWhat 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 - Correct AnswersWhich 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 - Correct AnswersWhen the
superintendent believes an agent is causing substantial and material harm, the
superintendent has the authority to
A good health statement - Correct AnswersUpon 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 - Correct AnswersIndex whole life insurance contains a securities
component that acts as a(n)
It provides benefits for nonoccupational illnesses and injuries - Correct AnswersWhich of
the following statements regarding Group Disability Income insurance is TRUE?
