XCEL SOLUTIONS - FINAL EXAM LATEST QUESTIONS AND VERIFIED ANSWERS GRADED A+ UPDATED
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Course
XCEL
Institution
XCEL
XCEL SOLUTIONS - FINAL EXAM LATEST QUESTIONS AND VERIFIED ANSWERS GRADED A+ UPDATED
K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where w...
K has a life insurance policy where her husband is beneficiary and her daughter
is contingent beneficiary. Under the Common Disaster clause, if K and her
husband are both killed in an automobile accident, where would the death
proceeds be directed?
Daughter
When is a Group Health policy required to provide coverage for a newborn child?
At the moment of birth
What is the required renewability status of all Medicare supplement policies?
Guaranteed renewable
Who issues Medicare Supplement policies?
insurance companies
P is the insured on a participating life policy. Which statement is true if P's
premiums are waived due to disability?
P will still receive declared dividends
What type of policy would offer a 40-year old the quickest accumulation of cash
value?
20-pay life
The Nevada Insurance Guaranty Association
,protects Nevada insurance policy owners in the event an insurance company becomes
insolvent
The most important factor to consider when determining whether to convert term
insurance at the insured's attained age or to the insured's original age is:
the cost
A Medicare Supplement policy may be cancelled for which of the following
reasons?
The premiums has not been paid by the insured
A noncontributory group term life plan is characterized by:
The entire cost of the plan is paid for by the employer
Variable annuities may invest premiums in each of the following, EXCEPT:
Insurer's corporate business account
Which of the following costs would a Basic Hospital/Surgical policy likely cover?
Surgically removing a facial birthmark
Information obtained from a phone conversation to the proposed insured can be
found in which of these reports?
Inspection report
T is receiving $3,000/month from a Disability Income policy in which T's employer
has pad the premiums. How are the $3,000 benefit payments taxable?
Benefits are taxable to T.
What kind of insurance policy supplies an income stream over a set period of
time that starts when the insured dies?
Family Maintenance Policy
, Basic Medical Expense insurance:
has lower benefit limits than Major Medical Insurance
What is the requirement for maintaining an individual Nevada producer license?
completing 30 hours of continuing education every 3 years
J is a producer who has induced an insured through misrepresentation to
surrender an existing insurance policy. What is J guilty of?
Twisting
Which of these is considered a mandatory provision?
payment of claims
Which life insurance rider typically appears on a Juvenile life insurance policy?
payor benefit rider
What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older
who do not take the required minimum distributions from their qualified
retirement plan?
50%
An individual has a Major Medical policy with a $5,000 deductible and an 80/20
Coinsurance clause. How much will the INSURED have to pay if a total of $15,000
in covered medical expenses are incurred?
$7,000
Within how many days after policy delivery can a Long-term Care policy be
returned for a 100% premium refund?
30
Which of the following is an example of defamation?
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