XCEL Solutions: Virginia Weighted Real
Time Exam
An accident and Health insurance applicant who fails to includes material medical information on an application would be reason for the insurer to - ✔✔deny any future claims and to refund the premium
S has a Whole Life Policy with a premium payment due soon. Which provision would keep the policy in force if S does not make the required payment and the policy has adequate cash value from which the premium payment can be made? - ✔✔Automatic Policy Loan
In order for coverage on a non-medical insurance application to take effect the same day, the producer must collect a signed application and - ✔✔the initial premium
M has a Major insurance policy with a $200 flat deductible and an 80% Coinsurance clause. If M incurs a $2,200 claim for an eligible medical expense, how much will M receive in payment for this claim? - ✔✔$1,600
What benefit does the Payor clause on a Juvenile Life policy provide ? - ✔✔Premiums are waived if payor becomes disabled
An agent offers an applicant something of value not mentioned in the contract as an inducement to purchase an insurance policy. The illegal act is called - ✔✔rebating 1 / 2
If an individual has an Accidental Death and Dismemberment policy and dies, an autopsy can be performed in all these situations EXCEPT: - ✔✔When the state prohibits this by law
Which plan is intended to be used by a sole proprietor and the employees of that business? - ✔✔Keogh Plan
A policy owner's rights are limited under which beneficiary designation? - ✔✔Irrevocable
T circulated false statements that were maliciously critical of an insurer's financial condition. T may be found guilty of - ✔✔Defamation
The phrase "This policy will only pay for semi-private room" is an example of a(n) - ✔✔Internal limit
All of the following are limited plans, EXCEPT: - ✔✔Life Insurance Policies
Which of the following does NOT qualify as a creditable coverage under the Health Insurance Portability and Accountability Act (HIPAA)? - ✔✔Accident Plans
For which of the following expenses does a Basic Hospital policy pay? - ✔✔Hospital room and board
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