XCEL BUNDLED Exam 2023 with 100% correct answers

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - correct answer insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to t...

Which dividend option would an insurer invest the policy owner's money and add any interest earnings as the dividends accrue? -Accumulation at Interest Option -Cash Dividend Option -Paid-Up Additions Option -One-Year Term Dividend Option - correct answer -The Accumulation at Interest Opti...

When an insurance company requests an attending physician's report, the request must be accompanied by a - correct answer Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? - correct answer Change of occupation "Life ins...

A saving vehicle designed to first accumulate funds and then systematically liquidates the funds - correct answer -Deferred annuity An annuity which is backed by a life insurer's separate account - correct answer -Variable Annuity Cindy buys a 10-year certain annuity with an installment refun...

P is a producer who is licensed in Indiana , but a resident of Michigan . In Indiana , P is considered to be a ( n ) __________ producer . - correct answer -nonresident . Why would the Insurance Commissioner issue a temporary license ? - correct answer -To allow the personal representative of a d...

Question 1 Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - correct answer Life income Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - correct answer 24 hours Quest...

What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - correct answer -A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - correct answer ...

An accident and Health insurance applicant who fails to includes material medical information on an application would be reason for the insurer to - correct answer deny any future claims and to refund the premium S has a Whole Life Policy with a premium payment due soon. Which provision would kee...

Which type of multiple protection policy pays on the death of the last person? A. Joint Life Policy B. Dual Life Policy C. Multiple Life Policy D. Survivorship Life Policy - correct answer -D. Survivorship Life Policy A policyowner may change two policy features on what type of life insuran...

What are the members of the Medical Bureau (MIB) required to report? - correct answer -Medical ailments discovered during the underwriting process When an insurance company requests an attending physician's report, the request must be accompanied by a - correct answer -copy of the signed authori...

The principle of insurable interest, in regards to a life insurance contract is accurately described in which statement? 1) An agent establishes insurable interest 2) An individual does not have insurable interest on his or her own life 3) Insurable interest only pertains to business arrangements 4)...

According to the principle of Utmost Good Faith, the insured will answer questions on the application to the best of their knowledge and pay premium, while the insurer will deal fairly with the insurer and it's - correct answer -promises made Bob and Tom start a business. Since each partner cont...

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 answer -Preventative health services Which of these will have the highest monthly payout upon ann...

Which annuity payout option allows the policy owner to choose a pre-determined number of benefit payments? - correct answer -Period Certain Which annuity payout option has no additional payouts regardless of when the annuitant dies - correct answer -Life only annuity a professional liability f...