XCEL EXAM SIMULATOR- TEXAS LIFE AND HEALTH STATE

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XCEL EXAM SIMULATOR- TEXAS LIFE AND HEALTH STATE

EXAM SIMULATOR

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: free-look period has expired

Answer:

M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect, EXCEPT

Question 2: Prior Use of Marijuana

Answer:

A Medical Information Report report may disclose which of the following

Question 3: If material to the risk, false representations will void a policy

Answer:

In regards to representations or warranties, which of these statements is true?

Question 4: experimental and investigative services

Answer:

A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following health care services are

typically covered, EXCEPT for:

Question 5: Installment Refund Annuity

Answer:

K is an annuitant currently receiving payments. If she were to die before receiving payments equal to the correct value, a beneficiary will continue receiving payments until an amount equal to the contract value has been paid. This is called a(n)

Question 6: A Whole life

Answer:

What type of insurance offers a permanent life coverage with premiums that are payable for life?

Question 7: $6,000

Answer:

An individual working part-time has an annual income of $25,000. If this individual has an IRA, what is the maximum deductible IRA contribution allowable?

Question 8: Entire cash surrender value is taxable

Answer:

which of these statements is incorrect regarding the federal income tax treatment of life insurance?

Question 9: Consideration Clause

Answer:

An insurance company receives E's application for an individual health policy. E did not complete all of the medical history questions because she couldn't remember exact dates. E signed the policy and submitted it to the insurance company anyway. A few weeks later, E suffers a heart attack and is hospitalized without completing the medical history questions and paying the initial premium. E is not insured. Which of the following clauses details the conditions that E did not meet?

Question 10: guaranteed values even if the policy has lapsed

Answer:

A Nonforfeiture clause gives the policyowner

Question 11: Interest Only

Answer:

All of these Settlement options involve the systematic liquidation of the death proceeds in the event of

the insured's death, EXCEPT:

Question 12: Subrogation

Answer:

Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party?

Question 13: Coverage is limited to only congenital defects

Answer:

Which of the following statements about health coverage for newborns is NOT true?

Question 14: endowment at age 70

Answer:

P owns 25,000 life policy that pays face amount to him if he lives to age 70 or to his benefit. If he dies before 70, what kind of policy does P own?

Question 15: 20-Pay Life accumulates cash value faster than Straight Life

Answer:

A potential client age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct?Question 16: Complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company

Answer:

Which of the following correctly explains the actions an agent should take if a customer wants to apply for an insurance policy?Question 17: K will forfeit the right to use the automatic loan provision upon reinstatement

Answer:

If K's whole life insurance policy lapsed two months ago due to nonpayment. She would now like to reinstate the policy. All of these statements are correct about the policy's reinstatement EXCEPT Question 18: Exceeds the maximum amount of premium that can be paid into a policy and still have it recognized as a life insurance contract

Answer:

Which of these statements describe a Modified Endowment Contract MEC?

Question 19: the risk of living longer than expected

Answer:

An individual who purchases a life annuity is given a protection against:

Question 20: Decreasing Term

Answer:

Which of these types of policies may NOT have the Automatic Premium Loan provision attached to it?

Question 21: Paid-up Additional Insurance

Answer:

K owns a whole life policy. If k wants an increasing death benefit to protect against inflation which dividend option should she chose?

Question 22: an insured

Answer:

An insurer is NOT required to provide information on fraudulent claims if requested by

Question 23: Dread disease insurance

Answer:

What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)

Question 24: Coinsurance

Answer:

A Major Medical policy typically contains a provision that requires the insurer to pay only part of a loss, while a balance is paid by the insured. This provision is called

Question 25: If the primary beneficiary dies before the insured

Answer:

How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment policy?

Question 26: Nonpayment of coverage

Answer:

Which of the following is a valid reason for an enrollee to be cancelled by a health maintenance organization plan?