XCEL Florida Life And Health Exam Simulator
XCEL FLORIDA LIFE AND HEALTH EXAM SIMULATOR INCLUDES
ACCURATE AND VERIFIED QUESTIONS TAILORED FOR LIFE,
HEALTH, PROPERTY, AND CASUALTY INSURANCE LICENSING
EXAMS ACROSS VARIOUS STATES.
K has a health policy that must be renewed by the insurer and the premiums can only be
increased if applied to the entire class of insureds. This type of policy is considered - ANSWER-
Guaranteed renewable
D needs life insurance that provides coverage for only a limited amount of time while also
paying the lowest possible premium. What kind of policy is needed? - ANSWER-Level term
When a policyowner exchanges a term policy for a whole life policy without providing proof of
good health, which of these apply? - ANSWER-Conversion provision
K pays on a $20,000 20-Year Endowment policy for 10 years and dies from an automobile
accident. How much will the insurance company pay the beneficiary? - ANSWER-$20,000 death
benefit
T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight Life Annuity. What
will this transaction provide? - ANSWER-Income that cannot be outlived by the owner
Which statement is TRUE regarding a group accident & health policy issued to an employer? -
ANSWER-The employer receives the policy and each employee is issued a certificate
What does a Guaranteed Insurability rider provide a Disability Income policyowner? - ANSWER-
The ability to periodically increase the amount of coverage without evidence of insurability
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, XCEL Florida Life And Health Exam Simulator
The coordination of benefits provision: - ANSWER-prevents an insured covered by two health
plans from making a profit on a covered loss
S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance
company did not respond to the claim. S can take legal action against the insurer beginning -
ANSWER-November 1
When does a Guaranteed Insurability Rider allow the insured to buy additional coverage? -
ANSWER-at future dates specified in the contract with no evidence of insurability required
The department of financial services serves as the receiver of any insurer placed into - ANSWER-
Receivership
Under Florida law, a variable annuity policyowner must be notified of the accumulated value of
the contract - ANSWER-once each year
Variable Whole Life Insurance can be described as - ANSWER-both an insurance and securities
product
"A producer does not have the authority to change a policy or waive any of its provisions". The
health provision that best describes this statement is called the - ANSWER-Entire Contract
When is a Group Health policy required to provide coverage for a newborn child? - ANSWER-At
the moment of birth
Which statement regarding the misstatement of Age provision is considered to be true? -
ANSWER-Coverage will be adjusted to reflect the insured's true age if a misstatement of age is
discovered
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, XCEL Florida Life And Health Exam Simulator
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years
later, the company discovered W's true age at issue had been 59. What would the normal
procedure be under the misstatement of age provision in regard to the payment of the death
claim? - ANSWER-The proceeds would be reduced based on whatever the premium would have
been if purchased at age 59
A life policy that contains a monthly mortality charge as well as self-directed investment choices
is called a(n) - ANSWER-Variable universal life policy
An underwriter determines that an applicant's risk should be recategorized due to a health
issue. This policy may be issued with a(n) - ANSWER-extra premium
A life insurance policyowner may sell their policy to a ————- in order to receive a percentage
of the policy's face value. - ANSWER-Viatical settlement provider
One becomes eligible for Social Security disability benefits after having been disabled for -
ANSWER-5 months
Dividends paid from a life insurance policy are - ANSWER-issued by the insurer
S owns a life insurance policy with cash values that fluctuate according to the underlying
investment performance of common stocks. Which of these policies does S own? - ANSWER-
Variable Whole Life
B owns a Whole Life policy with a guaranteed insurability option that allows him to purchase,
without evidence of insurability, stated amounts of - ANSWER-additional Whole Life coverage at
specified times
An incomplete life insurance application submitted to an insurer will result in which of these
actions? - ANSWER-Application will be returned to the writing agent
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, XCEL Florida Life And Health Exam Simulator
T applied for a Disability Income policy and has a history of back injuries. The insurer issued the
policy with a statement that excludes coverage for back injuries. This statement is called a(n) -
ANSWER-Impairment rider
Eligibility for coverage under the Florida Healthy Kids Corporation requires a family to be within
_________ of federal poverty level - ANSWER-200%
P is blinded in an industrial accident. Which provision of his life insurance policy will pay a stated
benefit amount? - ANSWER-Accidental Death and Dismemberment clause
Which of the following Best describes how a Preferred Provider Organization (pp0) is less
restrictive than a Health Maintenance Organization (HMO) - ANSWER-More physicians to
choose from
J owns a business and has a Group Life policy covering her employees. J decides to cancel the
policy by letting it lapse on the renewal date. What action must be taken? - ANSWER-All of the
employees must be notified of the cancellation either by the insurance company or through J
Statements made on an insurance application that are believed to be true to the best of the
applicant's knowledge are called - ANSWER-representations
Business Overhead Expense Policy - ANSWER-covers business expenses such as rent and utilities
In Florida, monthly-premium health insurance policies must provide a grace period of at least -
ANSWER-10 Days
The payments on Q's annuity are no less than $250 quarterly. Which of the following annuities
does Q own? - ANSWER-Flexible Installment Deferred
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XCEL FLORIDA LIFE AND HEALTH EXAM SIMULATOR INCLUDES
ACCURATE AND VERIFIED QUESTIONS TAILORED FOR LIFE,
HEALTH, PROPERTY, AND CASUALTY INSURANCE LICENSING
EXAMS ACROSS VARIOUS STATES.
K has a health policy that must be renewed by the insurer and the premiums can only be
increased if applied to the entire class of insureds. This type of policy is considered - ANSWER-
Guaranteed renewable
D needs life insurance that provides coverage for only a limited amount of time while also
paying the lowest possible premium. What kind of policy is needed? - ANSWER-Level term
When a policyowner exchanges a term policy for a whole life policy without providing proof of
good health, which of these apply? - ANSWER-Conversion provision
K pays on a $20,000 20-Year Endowment policy for 10 years and dies from an automobile
accident. How much will the insurance company pay the beneficiary? - ANSWER-$20,000 death
benefit
T, age 70, withdraws cash from a profit-sharing plan and purchases a Straight Life Annuity. What
will this transaction provide? - ANSWER-Income that cannot be outlived by the owner
Which statement is TRUE regarding a group accident & health policy issued to an employer? -
ANSWER-The employer receives the policy and each employee is issued a certificate
What does a Guaranteed Insurability rider provide a Disability Income policyowner? - ANSWER-
The ability to periodically increase the amount of coverage without evidence of insurability
1|Page
, XCEL Florida Life And Health Exam Simulator
The coordination of benefits provision: - ANSWER-prevents an insured covered by two health
plans from making a profit on a covered loss
S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance
company did not respond to the claim. S can take legal action against the insurer beginning -
ANSWER-November 1
When does a Guaranteed Insurability Rider allow the insured to buy additional coverage? -
ANSWER-at future dates specified in the contract with no evidence of insurability required
The department of financial services serves as the receiver of any insurer placed into - ANSWER-
Receivership
Under Florida law, a variable annuity policyowner must be notified of the accumulated value of
the contract - ANSWER-once each year
Variable Whole Life Insurance can be described as - ANSWER-both an insurance and securities
product
"A producer does not have the authority to change a policy or waive any of its provisions". The
health provision that best describes this statement is called the - ANSWER-Entire Contract
When is a Group Health policy required to provide coverage for a newborn child? - ANSWER-At
the moment of birth
Which statement regarding the misstatement of Age provision is considered to be true? -
ANSWER-Coverage will be adjusted to reflect the insured's true age if a misstatement of age is
discovered
2|Page
, XCEL Florida Life And Health Exam Simulator
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years
later, the company discovered W's true age at issue had been 59. What would the normal
procedure be under the misstatement of age provision in regard to the payment of the death
claim? - ANSWER-The proceeds would be reduced based on whatever the premium would have
been if purchased at age 59
A life policy that contains a monthly mortality charge as well as self-directed investment choices
is called a(n) - ANSWER-Variable universal life policy
An underwriter determines that an applicant's risk should be recategorized due to a health
issue. This policy may be issued with a(n) - ANSWER-extra premium
A life insurance policyowner may sell their policy to a ————- in order to receive a percentage
of the policy's face value. - ANSWER-Viatical settlement provider
One becomes eligible for Social Security disability benefits after having been disabled for -
ANSWER-5 months
Dividends paid from a life insurance policy are - ANSWER-issued by the insurer
S owns a life insurance policy with cash values that fluctuate according to the underlying
investment performance of common stocks. Which of these policies does S own? - ANSWER-
Variable Whole Life
B owns a Whole Life policy with a guaranteed insurability option that allows him to purchase,
without evidence of insurability, stated amounts of - ANSWER-additional Whole Life coverage at
specified times
An incomplete life insurance application submitted to an insurer will result in which of these
actions? - ANSWER-Application will be returned to the writing agent
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, XCEL Florida Life And Health Exam Simulator
T applied for a Disability Income policy and has a history of back injuries. The insurer issued the
policy with a statement that excludes coverage for back injuries. This statement is called a(n) -
ANSWER-Impairment rider
Eligibility for coverage under the Florida Healthy Kids Corporation requires a family to be within
_________ of federal poverty level - ANSWER-200%
P is blinded in an industrial accident. Which provision of his life insurance policy will pay a stated
benefit amount? - ANSWER-Accidental Death and Dismemberment clause
Which of the following Best describes how a Preferred Provider Organization (pp0) is less
restrictive than a Health Maintenance Organization (HMO) - ANSWER-More physicians to
choose from
J owns a business and has a Group Life policy covering her employees. J decides to cancel the
policy by letting it lapse on the renewal date. What action must be taken? - ANSWER-All of the
employees must be notified of the cancellation either by the insurance company or through J
Statements made on an insurance application that are believed to be true to the best of the
applicant's knowledge are called - ANSWER-representations
Business Overhead Expense Policy - ANSWER-covers business expenses such as rent and utilities
In Florida, monthly-premium health insurance policies must provide a grace period of at least -
ANSWER-10 Days
The payments on Q's annuity are no less than $250 quarterly. Which of the following annuities
does Q own? - ANSWER-Flexible Installment Deferred
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