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Xcel Testing Solutions- Life and Health
Insurance- Weighted Exam- 150 Questions And
Answers (Guaranteed A+)
The Do Not Call Registry offers exemptions for calls
placed from all of the following EXCEPT - .....ANSWER
...✔✔ insurance sales calls
Charities, political organizations, and surveys are all
offered exemptions from The Do Not Call Registry
The type of policy where the insurer can send a notice to
the insured that the policy has been cancelled in the
middle of the term is called - .....ANSWER ...✔✔
cancelable
The renewability provision in a cancelable policy allows
the insurer to cancel or terminate the policy at any time,
simply by providing written notification to the insured
and refunding any advance premium that has been
paid.
Barbara's policy includes a rider which allows her to
purchase additional insurance at specific dates or events
without evidence of insurability. This rider is called a(n) -
.....ANSWER ...✔✔ Guaranteed insurability rider
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A guaranteed insurability rider allows for the insured to
purchase additional insurance at specific dates or events
without evidence of insurability.
Disability Income plans which require that the insurer can
NEVER change or alter premium rates are usually
considered - .....ANSWER ...✔✔ Noncancellable
A noncancellable policy cannot be cancelled nor can its
premium rates be increased under any circumstances.
In what part of an insurance policy are policy benefits
found? - .....ANSWER ...✔✔ Declarations
Essentially, the insurance declaration page is like a quick
guide to the insurance policy, providing all of the basic
information the policyholder needs to know.
What happens if the insurer discovers that the insured's
age was accidentally misstated on an application for an
individual life insurance policy? - .....ANSWER ...✔✔
Benefits will be calculated according to how much
coverage the premium paid would have purchased for
the correct age
Benefits will be calculated according to how much
coverage the premium paid would have purchased for
the correct age.
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Health insurance will typically cover which of the
following perils? - .....ANSWER ...✔✔ Injury due to
accident
Accidental injury is typically a covered peril in health
insurance.
A viatical settlement contract is an agreement between -
.....ANSWER ...✔✔ A life insurance policyowner and a
viatical settlement provider
A viatical settlement contract is an agreement between
a life insurance policyowner and a viatical settlement
provider.
Under the Affordable Care Act, how would a
grandfathered health plan lose its grandfathered
status? - .....ANSWER ...✔✔ The insurer significantly
raises co-insurance charges, deductibles, or co-payment
charges
According to the Affordable Care Act, grandfathered
health plans may lose their grandfathered status if the
insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
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Which of these techniques will remove the risk of losing
money in the stock market by never purchasing stocks? -
.....ANSWER ...✔✔ Risk avoidance
Risk avoidance could eliminate the risk of losing money
in the stock market by never investing in stocks.
Which of the following nursing home options would BEST
suit an individual who needs some nursing care and
supervision but NOT full-time care? - .....ANSWER
...✔✔ Assisted living facilities
An assisted living facility would best suit an individual
who needs some nursing care and supervision but not
full-time care.
Under Louisiana law, the agreement between an
insurance producer and insurer under which the insurance
producer, for compensation, may sell, solicit, or
negotiate policies issued by the insurer is defined as -
.....ANSWER ...✔✔ an appointment
The agreement between an insurance producer and
insurer under which the insurance producer, for
compensation, may sell, solicit, or negotiate policies
issued by the insurer is called an appointment.
Xcel Testing Solutions- Life and Health
Insurance- Weighted Exam- 150 Questions And
Answers (Guaranteed A+)
The Do Not Call Registry offers exemptions for calls
placed from all of the following EXCEPT - .....ANSWER
...✔✔ insurance sales calls
Charities, political organizations, and surveys are all
offered exemptions from The Do Not Call Registry
The type of policy where the insurer can send a notice to
the insured that the policy has been cancelled in the
middle of the term is called - .....ANSWER ...✔✔
cancelable
The renewability provision in a cancelable policy allows
the insurer to cancel or terminate the policy at any time,
simply by providing written notification to the insured
and refunding any advance premium that has been
paid.
Barbara's policy includes a rider which allows her to
purchase additional insurance at specific dates or events
without evidence of insurability. This rider is called a(n) -
.....ANSWER ...✔✔ Guaranteed insurability rider
,2|Page
A guaranteed insurability rider allows for the insured to
purchase additional insurance at specific dates or events
without evidence of insurability.
Disability Income plans which require that the insurer can
NEVER change or alter premium rates are usually
considered - .....ANSWER ...✔✔ Noncancellable
A noncancellable policy cannot be cancelled nor can its
premium rates be increased under any circumstances.
In what part of an insurance policy are policy benefits
found? - .....ANSWER ...✔✔ Declarations
Essentially, the insurance declaration page is like a quick
guide to the insurance policy, providing all of the basic
information the policyholder needs to know.
What happens if the insurer discovers that the insured's
age was accidentally misstated on an application for an
individual life insurance policy? - .....ANSWER ...✔✔
Benefits will be calculated according to how much
coverage the premium paid would have purchased for
the correct age
Benefits will be calculated according to how much
coverage the premium paid would have purchased for
the correct age.
,3|Page
Health insurance will typically cover which of the
following perils? - .....ANSWER ...✔✔ Injury due to
accident
Accidental injury is typically a covered peril in health
insurance.
A viatical settlement contract is an agreement between -
.....ANSWER ...✔✔ A life insurance policyowner and a
viatical settlement provider
A viatical settlement contract is an agreement between
a life insurance policyowner and a viatical settlement
provider.
Under the Affordable Care Act, how would a
grandfathered health plan lose its grandfathered
status? - .....ANSWER ...✔✔ The insurer significantly
raises co-insurance charges, deductibles, or co-payment
charges
According to the Affordable Care Act, grandfathered
health plans may lose their grandfathered status if the
insurer significantly raises co-insurance charges,
deductibles, or co-payment charges
, 4|Page
Which of these techniques will remove the risk of losing
money in the stock market by never purchasing stocks? -
.....ANSWER ...✔✔ Risk avoidance
Risk avoidance could eliminate the risk of losing money
in the stock market by never investing in stocks.
Which of the following nursing home options would BEST
suit an individual who needs some nursing care and
supervision but NOT full-time care? - .....ANSWER
...✔✔ Assisted living facilities
An assisted living facility would best suit an individual
who needs some nursing care and supervision but not
full-time care.
Under Louisiana law, the agreement between an
insurance producer and insurer under which the insurance
producer, for compensation, may sell, solicit, or
negotiate policies issued by the insurer is defined as -
.....ANSWER ...✔✔ an appointment
The agreement between an insurance producer and
insurer under which the insurance producer, for
compensation, may sell, solicit, or negotiate policies
issued by the insurer is called an appointment.
