XCEL Chapter 5 Flashcards
Test your knowledge with these flashcards from XCEL Chapter 5. This quiz covers important concepts related to health and group insurance plans, including adverse selection and underwriting processes. Ideal for anyone studying for insurance certification exams.
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XCEL Chapter 5 Flashcards
Quiz • 11 Questions
Study Notes
2 min • Summary
XCEL Chapter 5 Flashcards - Podcast
Podcast
Materials
List of Questions11 questions
- Question 1
- Tax deductions
- State compliance
- Adverse selection
- The underwriting process
- Question 2
- Individual underwriting
- Master contract
- Group underwriting
- Probationary period
- Question 3
- Risk aversion
- Risk management
- Natural selection
- Adverse selection
- Question 4
- Extension of benefits
- Conversion
- Rollover
- Coordination of benefits
- Question 5
- Individual plan with another insurer that has better rates
- Family plan with another insurer
- Individual plan upon employment termination
- Individual policy in the spouse's name
- Question 6
- Converting to term life insurance
- Submitting proof of insurability
- The conversion being applied for within 31 days of termination
- Paying a lower premium
- Question 7
- Certificate of Authority
- Consumer report
- Certificate of coverage and benefits
- Coverage document
- Question 8
- Employer group
- Multiple coalition
- Association or labor group
- Employee group
- Question 9
- Policy
- Certificate
- Application
- Rider
- Question 10
- Change the policy provisions
- Cash surrender the existing policy
- Remain on the group plan in the event of employment termination
- Convert to an individual policy in the event of employment termination
- Question 11
- Grace period
- Average age
- Incontestable period
- Number of dependents