Xcel Solutions Final Exam (California Life, Accident And Health Insurance) Final Exam Questions and
Answers 2024.
Who does a life settlement broker
... [Show More] represent? ✔Ans✔ Individual wanting to sell their life policy
to a third party
What is the insurance term the State of California uses for an insurer that is eligible to transact
business in this state? ✔Ans✔ Admitted
Most U.S. life insurance companies belong to the ✔Ans✔ Medical Information Bureau
Which of the following healthcare providers provide both the healthcare services and
healthcare coverage? ✔Ans✔ Health Maintenance Organization (HMO)
Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)? ✔Ans✔
Traveling overseas with a spouse
Which word implies permissiveness according to the California Insurance Code? ✔Ans✔ may
When found in California Insurance Code, the word "may" implies permissiveness.
Under a long-term care insurance policy, adult day care coverage will provide for ✔Ans✔ part
time care at a facility for elderly individuals who live at home
Major medical expense plans typically use a cost containment measure for emergency hospital
care. This is referred to as a ✔Ans✔ Deductible
Pam is the primary beneficiary of a life insurance policy and wants to let the death benefit
accumulate and receive only the monthly investment proceeds. Which settlement option
should she choose? ✔Ans✔ Interest Option
Xcel Solutions Final Exam (California Life, Accident
And Health Insurance) Final Exam Questions and
Answers 2024.
Reasonably necessary acts that an agent must perform for carrying out his/her expressly
authorized duties are covered by an agent's ✔Ans✔ Implied authority
Kim is insured under a disability income insurance policy with an "own occupation" clause. She
was recently injured in an automobile accident and can no longer perform the tasks of her job.
Kim is now considered to be ✔Ans✔ Totally Disabled
What is a common reason people purchase an annuity ✔Ans✔ To protect against the risk of
outliving their financial resources
Why is a life insurance policy's delivery date important? ✔Ans✔ The free-look period begins on
the policy delivery date
Periodic increases in policy benefits are allowed in which long-term care policy provision?
✔Ans✔ Inflation Protection
What is the term used to describe the frequency and severity of certain illnesses and accidents?
✔Ans✔ Morbidity
Key person insurance is intended to ✔Ans✔ cover business losses due to death of key
employee
Minimum participation standards exist for group health insurance plans in order to ✔Ans✔
prevent adverse selection . [Show Less]