Xcel

XCEL FINAL EXAM 2024 QUESTIONS AND VERIFIED CORRECT ANSWERS LATEST UPDATE 100% RATED FOR PASS GRADED A+ Typically, Long-Term Disability benefits are coordinated with which benefit plan? Social Security The focus of major medical insurance is providing coverage for medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? $200 beca...

XCEL CHAPTER 15 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called A. adult day care B. home health care C. skilled nursing care D. custodial care skilled nursing care Long-Term Care policies may provide coverage for claims arising from A. senile dementia B. acute care in hospital C. alcoholism D. drug addiction senile dementia Which of the following stat...

XCEL CHAPTER 7 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ When does a life insurance policy typically become effective? A. When the policy is issued B. When initial premium is collected and policy is issued C. When the application is completed and signed D. When the completed application is signed and initial premium is collected When initial premium is collected and policy is issued What is the purpose of the Medical Information Bureau (MIB)? A. To accept or decline i...

XCEL CHAPTER 6 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the? A. estate of the insured only B. estate of the deceased beneficiaries only C. named contingent beneficiaries only D. named living primary beneficiaries named living primary beneficiaries Mortality is calculated by using a large risk pool of? A. hobbies and time B. people and time C. family history and geog...

XCEL CHAPTER 9 EXAM QUESTIONS WITH COMPLETE VERIFIED SOLUTIONS LATEST UPDATE Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? A. Payout period B. Accumulation period C. Deferred period D. Growth period Accumulation period Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called? variable payout fixed accumulation interest guaranteed annuity certain Ann...

XCEL CHAPTER 4 A EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED Rob purchased a standard whole life policy with a $500,000 death benefit when he was age 30. His insurance agent told him the policy would be paid up if he reached age 100. The present cash value of the policy equals $250,000. Rob recently died at age 60. The death benefit would be 500,000.00 A life insurance policy that has premiums fully paid up within a stated time period is called limited payment insurance A Modified End...

XCEL CHAPTER 11 EXAM QUESTIONS AND VERIFIED CORRECT ANSWERS GRADED A+ What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do? A. In the event of employment termination, group health insurance can be kept if the employee pays the premiums B. Receive a tax credit to help offset the cost of health insurance C. Remain on their current coverage for 30 months D. In the event of employment termination, group health insurance can be kept if the employ...

XCEL CHAPTER 4 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ 100% GUARANTEED PASS Donald is the primary insured of a life insurance policy and adds a children's term rider. What is the advantage of adding this rider? A. Can be converted to permanent coverage without evidence of insurability B. Coverage can be different for each child C. Premiums on this rider are not required until the limiting age is reached D. Increases the policy's overall cash value Can be converted to ...

XCEL CHAPTER 5 EXAM WITH COMPLETE SOLUTIONS 100% SOLVED ALREADY PASSED A non-contributory health insurance plan helps the insurer avoid? A. adverse selection B. state compliance C. the underwriting process D. tax deductions adverse selection All of the following are characteristics of a Group Life Insurance Plan EXCEPT? A. Group underwriting B. Master contract C. Individual underwriting D. Probationary period Individual underwriting

XCEL CHAPTER 10 EXAM QUESTIONS WITH COMPLETE SOLUTIONS CERIFIED GRADED A+ Which of the following is NOT a federal requirement of a qualified plan? A. Must benefit a broad cross-section of employees B. Employee must be able to make unlimited contributions C. Vesting schedule must be defined D. Employer establishes the plan Employee must be able to make unlimited contributions Which of the following employers is required to follow ERISA regulations? A. A local government with 150 employ...