Package deal for XCEL Exam Questions with 100% Correct Answers 2023

Typically, Long-Term Disability benefits are coordinated with which benefit plan? - Correct answer-Social Security The focus of major medical insurance is providing coverage for - Correct answermedical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductib...

Replacement regulation is designed to protect - Correct answer-Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Correct answerPreventative health services Which of these will have the highest monthly payout upon annuitiza...

Who does a life settlement broker represent? - Correct answer-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? - Correct answer-Admitted Most U.S. life insuran...

Irrevocable beneficiary - Correct answer-What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? Anytime - Correct answer-When can a policy-owner change a revocable beneficiary? Daughter - Correct answer-K has a life insurance policy where her husban...

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? - Correct answer-20-Pay Life accumulates cash value faster than Straight Life ...

Which of these is NOT considered to be a common life insurance nonforfeiture option? a. Cash surrender b. Extended term insurance c. Reduced paid-up insurance d. Life income annuity - Correct answer-d. Life income annuity Which of these would NOT be considered a presumptive disability? a. Loss...

Reserve - Correct answer-funds held by the company to help future claims. minimum reserves are usually set by the state Department of Insurance. Multi-line insurer - Correct answer-an insurance company or independent agent that provides a one-stop shop for businesses or individuals seeking covera...

Johns owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of policy is this? - Correct answer-Participating A participating company is also referred to as which type of insurer? - Correct answerMutual insurer Which of the following is NOT a benefit of i...

When can a policy owner change a revocable beneficiary? - Correct answer-Anytime M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? - Correct answe...