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XCEL Georgia Life, Accident, & Sickness
Exam Simulator Includes Accurate And
Verified Questions Tailored For Life, Health,
Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The
Actual Testing Experience With Modules On
Which of these is considered a mandatory provision?
A) Payment of Claims
B) Insurance with Other Insurers
C) Misstatement of Age
D) Change of Occupation - . . ANSWER ✔ ✔A) Payment of
Claims
Payment of Claims is considered a mandatory provision
and directs where the claim benefits will go. The others are
considered optional provisions.
All of the following are considered to be typical
characteristics describing the nature of an insurance
contract, EXCEPT:
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A) Bilateral
B) Unilateral
C) Aleatory
D) Adhesion - . . ANSWER ✔ ✔A) Bilateral
Unilateral, aleatory, and adhesion are all special features
of insurance contracts. Bilateral is not.
Which of the following is not considered rebating?
A) Sharing commissions with an agent licensed in the
same line of business
B) Returning premium to a client as an inducement for
purchasing a policy
C) Giving something of value to an insured in exchange for
their business
D) Offering special dividends - . . ANSWER ✔ ✔A)
Sharing commissions with an agent licensed in the same
line of business
Sharing commissions with other licensed and appointed
agents is not considered rebating.
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In life insurance, the needs approach is used mostly to
establish:
A) Which type of life insurance a client should apply for
B) How much life insurance a client should apply for
C) Which company a client should use when applying for
life insurance
D) What the maximum amount the client can spend on life
insurance - . . ANSWER ✔ ✔B) How much life insurance a
client should apply for
The "needs approach" in life insurance is most useful in
determining the amount of life insurance to be
recommended to a client.
What is Old Age and Survivors Health Insurance
(OASDHI) also known as?
A) Medicare
B) Social Security
C) Medicaid
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D) FICA - . . ANSWER ✔ ✔B) Social Security
Old Age, Survivors, and Disability Insurance (OASDI), was
signed into law in 1935 by President Roosevelt as part of
the Social Security Act.
Major Medical policies typically:
A) Pay 100% of covered expenses
B) Contain a deductible and coinsurance
C) Require use of in-network facilities only
D) Do not contain a deductible and coninsurance - . .
ANSWER ✔ ✔B) Contain a deductible and coinsurance
Major Medical policies typically contain a deductible and
coinsurance.
The part of a life insurance policy guaranteed to be true is
called a(n):
A) Representation
XCEL Georgia Life, Accident, & Sickness
Exam Simulator Includes Accurate And
Verified Questions Tailored For Life, Health,
Property, And Casualty Insurance Licensing
Exams Across Various States. It Mirrors The
Actual Testing Experience With Modules On
Which of these is considered a mandatory provision?
A) Payment of Claims
B) Insurance with Other Insurers
C) Misstatement of Age
D) Change of Occupation - . . ANSWER ✔ ✔A) Payment of
Claims
Payment of Claims is considered a mandatory provision
and directs where the claim benefits will go. The others are
considered optional provisions.
All of the following are considered to be typical
characteristics describing the nature of an insurance
contract, EXCEPT:
,2|Page
A) Bilateral
B) Unilateral
C) Aleatory
D) Adhesion - . . ANSWER ✔ ✔A) Bilateral
Unilateral, aleatory, and adhesion are all special features
of insurance contracts. Bilateral is not.
Which of the following is not considered rebating?
A) Sharing commissions with an agent licensed in the
same line of business
B) Returning premium to a client as an inducement for
purchasing a policy
C) Giving something of value to an insured in exchange for
their business
D) Offering special dividends - . . ANSWER ✔ ✔A)
Sharing commissions with an agent licensed in the same
line of business
Sharing commissions with other licensed and appointed
agents is not considered rebating.
,3|Page
In life insurance, the needs approach is used mostly to
establish:
A) Which type of life insurance a client should apply for
B) How much life insurance a client should apply for
C) Which company a client should use when applying for
life insurance
D) What the maximum amount the client can spend on life
insurance - . . ANSWER ✔ ✔B) How much life insurance a
client should apply for
The "needs approach" in life insurance is most useful in
determining the amount of life insurance to be
recommended to a client.
What is Old Age and Survivors Health Insurance
(OASDHI) also known as?
A) Medicare
B) Social Security
C) Medicaid
, 4|Page
D) FICA - . . ANSWER ✔ ✔B) Social Security
Old Age, Survivors, and Disability Insurance (OASDI), was
signed into law in 1935 by President Roosevelt as part of
the Social Security Act.
Major Medical policies typically:
A) Pay 100% of covered expenses
B) Contain a deductible and coinsurance
C) Require use of in-network facilities only
D) Do not contain a deductible and coninsurance - . .
ANSWER ✔ ✔B) Contain a deductible and coinsurance
Major Medical policies typically contain a deductible and
coinsurance.
The part of a life insurance policy guaranteed to be true is
called a(n):
A) Representation
