Xcel chapter 3 - Study guides, Class notes & Summaries
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XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
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XCEL SOLUTIONS CHAPTER 3 - POLICY 
PROVISIONS EXAM | QUESTIONS & 
ANSWERS (VERIFIED) | LATEST UPDATE | 
GRADED A+ 
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 
D owns a whole life policy that was purchased 10 years ago. If the premium paym...
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XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
- Exam (elaborations) • 17 pages • 2024
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XCEL SOLUTIONS CHAPTER 3 - POLICY 
PROVISIONS EXAM | QUESTIONS & 
ANSWERS (VERIFIED) | LATEST UPDATE | 
GRADED A+ 
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 
D owns a whole life policy that was purchased 10 years ago. If the premium paym...
-
Xcel chapter 3 Exam Questions and Answers All Correct
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Xcel chapter 3 Exam Questions and Answers All Correct 
Ambiguities in an insurance policy are always resolved in favor of the - Answer-insured 
 
The authority granted to a licensed producer is provided via the - Answer-law of agency 
 
 	is NOT an element of a valid contract. - Answer-countersignature 
 
Insurable interest does NOT occur in which of the following relationships? - Answer- business ower and business client 
 
What is implied authority defined as? - Answer-Authority that is not sp...
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Chapter 3 (215) XCEL Final Exam Prediction Questions & Answers.
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Chapter 3 (215) XCEL Final Exam Prediction Questions & Answers. 
 
 
Which type of policy is considered to be overfunded, as stated by IRS guidelines? - CORRECT ANSWER The correct answer is "Modified Endowment Contract". A policy that is overfunded to where it does not meet the 7-pay test is considered a Modified Endowment Contract. 
 
A(n) _______ _______ Life policy combines investment choices with a form of Term coverage - CORRECT ANSWER The correct answer is "Variable Universal". Variable Un...
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Excel Chapter 3, questions and answers, latest updated
- Exam (elaborations) • 2 pages • 2023
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Excel Chapter 3, questions and answers, latest updated 
worksheet tabs 
the labels along the lower edge of the workbook window that identify each worksheet 
 
 
 
tab scrolling buttons 
controls to the left of the worksheet tabs used to display worksheet tabs that are not in view 
 
 
 
serial number 
a sequential number assigned to a date 
 
 
 
clipboard 
a temporary storage area for text and graphics 
 
 
 
drag and drop 
a method of moving or copying the content of selected cells in which yo...
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XCEL CHAPTER 7 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+
- Exam (elaborations) • 6 pages • 2024
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XCEL CHAPTER 7 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ 
 
 
When does a life insurance policy typically become effective? 
A. When the policy is issued 
B. When initial premium is collected and policy is issued 
C. When the application is completed and signed 
D. When the completed application is signed and initial premium is collected 
When initial premium is collected and policy is issued 
What is the purpose of the Medical Information Bureau (MIB)? 
A. To accept or decline i...
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XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
- Exam (elaborations) • 10 pages • 2024
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- $12.99
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XCEL SOLUTIONS CHAPTER 3 - POLICY 
PROVISIONS EXAM | QUESTIONS & 
ANSWERS (VERIFIED) | LATEST UPDATE | 
GRADED A+ 
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 
D owns a whole life policy that was purchased 10 years ago. If the premium paym...
-
XCEL Chapter 7 Test Questions with Correct Answers
- Exam (elaborations) • 3 pages • 2024
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XCEL Chapter 7 Test Questions with Correct Answers 
 
When does a life insurance policy typically become effective? 
A. When the policy is issued 
B. When initial premium is collected and policy is issued 
C. When the application is completed and signed 
D. When the completed application is signed and initial premium is collected - Answer-When initial premium is collected and policy is issued 
 
What is the purpose of the Medical Information Bureau (MIB)? 
 A. To accept or decline insurance app...
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XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
- Exam (elaborations) • 17 pages • 2024
- Available in package deal
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- $11.99
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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 
D owns a whole life policy that was purchased 10 years ago. If the premium payment 
suddenly stop and D takes no additional action, which nonforfeiture option will be 
insurer likely proceed with?...
-
XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
- Exam (elaborations) • 17 pages • 2024
- Available in package deal
-
- $11.99
- + learn more
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 
D owns a whole life policy that was purchased 10 years ago. If the premium payment 
suddenly stop and D takes no additional action, which nonforfeiture option will be 
insurer likely proceed with?...
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