Xcel Life Insurance Exam 2026/2027
A business for typically use which type of life insurance to cover their employees? -
Answers>>Group policy
A carrier for a small group health plan may refuse to renew the plan if the employer -
Answers>>fails to pay the premium
A disability income policy can prevent an insured from earning a higher income than if
he/she were working by utilizing - Answers>>benefit limits
A disability policy where the premiums are due monthly require a grace period of -
Answers>>10 days
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? -
Answers>>Benefit period
A domestic insurance company in New York MUST - Answers>>be formed under the
laws of New York
A form of medical health insurance covering is the treatment and the care of gum
disease is called - Answers>>Dental expense insurance
A health insurance policy will typically cover - Answers>>preventative health services
A hospital or medical expense policy will typically cover dental treatment expenses
which under circumstances? - Answers>>Dental treatment is needed to repair an injury
A life settlement broker is someone who is - Answers>>licensed to negotiate a life
settlement contract
A life settlement intermediary is a(n) - Answers>>association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement
contracts
A limited payment whole life policy provides - Answers>>lifetime protection
A long-term care policy typically provide all the following levels of care except -
Answers>>Acute care
A Medicare Supplement policy must NOT contain benefits which - Answers>>duplicate
Medicare benefits
, A policyowner suffers an injury that renders him incapable of performing one or more
important job duties. Any decrease in income resulting from this injury would make him
eligible for benefits under which provision? - Answers>>Partial disability
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Answers>>collateral assignment
ABC insurance company transfer is part of their risk to XYZ insurance company this
situation is called - Answers>>Reinsurance
After year(s) from date of issue, an individual health insurance policy can no longer be
cancelled by the insurer for misstatements (except for fraud). - Answers>>2
All Health Benefit Plans issued after January 1, 2014 must provide -
Answers>>Preventative health services
All of the following are considered to be nonforfeiture options available to a policyowner
EXCEPT - Answers>>Reduction of Premium
All of the following are typically included in a life insurance policy illustration EXCEPT -
Answers>>Names of the beneficiaries
All of these are characteristics of a universal life insurance policy EXCEPT -
Answers>>Fixed surrender value
All of these are valid policy dividend options for a life insurance policyowner EXCEPT -
Answers>>accumulate without interest
All the following are considered appropriate to use of life insurance for business
purposes except - Answers>>Protecting the business by covering entry-level
employees with life insurance
An accident and health insurer has just received written proof of loss from one of its
insureds. The insured must now wait 60 days before - Answers>>bringing legal action
agaínst the insurer
An agent has recently died and leave behind a spouse in order for the aged insurance
business to continue the superintendent may issue to the agent spouse a -
Answers>>Temporary insurance license
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - Answers>>Refund annuity
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Answers>>master policy
A business for typically use which type of life insurance to cover their employees? -
Answers>>Group policy
A carrier for a small group health plan may refuse to renew the plan if the employer -
Answers>>fails to pay the premium
A disability income policy can prevent an insured from earning a higher income than if
he/she were working by utilizing - Answers>>benefit limits
A disability policy where the premiums are due monthly require a grace period of -
Answers>>10 days
A disability policyowner is injured and becomes totally disabled. The benefits pay for 2
years, starting from the date of the injury. What is this time period called? -
Answers>>Benefit period
A domestic insurance company in New York MUST - Answers>>be formed under the
laws of New York
A form of medical health insurance covering is the treatment and the care of gum
disease is called - Answers>>Dental expense insurance
A health insurance policy will typically cover - Answers>>preventative health services
A hospital or medical expense policy will typically cover dental treatment expenses
which under circumstances? - Answers>>Dental treatment is needed to repair an injury
A life settlement broker is someone who is - Answers>>licensed to negotiate a life
settlement contract
A life settlement intermediary is a(n) - Answers>>association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement
contracts
A limited payment whole life policy provides - Answers>>lifetime protection
A long-term care policy typically provide all the following levels of care except -
Answers>>Acute care
A Medicare Supplement policy must NOT contain benefits which - Answers>>duplicate
Medicare benefits
, A policyowner suffers an injury that renders him incapable of performing one or more
important job duties. Any decrease in income resulting from this injury would make him
eligible for benefits under which provision? - Answers>>Partial disability
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - Answers>>collateral assignment
ABC insurance company transfer is part of their risk to XYZ insurance company this
situation is called - Answers>>Reinsurance
After year(s) from date of issue, an individual health insurance policy can no longer be
cancelled by the insurer for misstatements (except for fraud). - Answers>>2
All Health Benefit Plans issued after January 1, 2014 must provide -
Answers>>Preventative health services
All of the following are considered to be nonforfeiture options available to a policyowner
EXCEPT - Answers>>Reduction of Premium
All of the following are typically included in a life insurance policy illustration EXCEPT -
Answers>>Names of the beneficiaries
All of these are characteristics of a universal life insurance policy EXCEPT -
Answers>>Fixed surrender value
All of these are valid policy dividend options for a life insurance policyowner EXCEPT -
Answers>>accumulate without interest
All the following are considered appropriate to use of life insurance for business
purposes except - Answers>>Protecting the business by covering entry-level
employees with life insurance
An accident and health insurer has just received written proof of loss from one of its
insureds. The insured must now wait 60 days before - Answers>>bringing legal action
agaínst the insurer
An agent has recently died and leave behind a spouse in order for the aged insurance
business to continue the superintendent may issue to the agent spouse a -
Answers>>Temporary insurance license
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - Answers>>Refund annuity
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - Answers>>master policy
