XCEL Final Exam California Life Insurance Exam 2026
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
ACCURATE ANSWERS (VERIFIED ANSWERS) |
ALREADY PASSED!! NEWEST EXAM | JUST
RELEASED!!
A life insurance policy that pays the face amount if the
insured survives to a
specified period of time is called - ANSWER-
Endowment Insurance
Tom is shopping for a policy that covers two people and would
pay the face amount ONLY when the first person dies. The
type of life policy he is looking for is called a - ANSWER-Joint
Life Policy
Most U.S. life insurance companies belong to the -
ANSWER-Medical
Information
Bureau
The Medical Information Bureau consists of - ANSWER-
Life And Health
Insurance
Companies
,Which of the following risk classifications charges the
lowest premium? -
ANSWER-
Preferred
What must an applicant do in order to authorize the release
of an attending
physician report? - ANSWER-Sign a
consent form
Which of the following is NOT a risk classification that an
underwriter would
use? - ANSWER-
Dividend Risk
How does a conditional receipt differ from a binding
receipt? - ANSWER-
Binding receipts always provide insurance which starts
from date of receipt
A report which is based on creditworthiness and personal
characteristics that
influences an insurance applicant's eligibility for life and health
insurance is called a(n) - ANSWER-Consumer Report
An applicant has revealed conditions that require more
information. Which of
, the following is needed next? - ANSWER-Attending
physician's statement
The risk selection process is primarily given to which
insurance company
department? - ANSWER-
Underwriting
When an applicant applies for insurance, the process by
which the insurer
determines whether to issue a policy is called - ANSWER-
Underwriting
Moral hazard is described as the - ANSWER-Increased
chance of a loss
because of an insured's dishonest
tendencies
Which of the following would NOT be accomplished with the
purchase of an
insurance policy? - ANSWER-Risk Is
Eliminated
An insurer having a large number of similar exposure units is
considered important because - ANSWER-The greater the
number insured, the more accurately the insurer can predict
losses and set appropriate premiums
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
ACCURATE ANSWERS (VERIFIED ANSWERS) |
ALREADY PASSED!! NEWEST EXAM | JUST
RELEASED!!
A life insurance policy that pays the face amount if the
insured survives to a
specified period of time is called - ANSWER-
Endowment Insurance
Tom is shopping for a policy that covers two people and would
pay the face amount ONLY when the first person dies. The
type of life policy he is looking for is called a - ANSWER-Joint
Life Policy
Most U.S. life insurance companies belong to the -
ANSWER-Medical
Information
Bureau
The Medical Information Bureau consists of - ANSWER-
Life And Health
Insurance
Companies
,Which of the following risk classifications charges the
lowest premium? -
ANSWER-
Preferred
What must an applicant do in order to authorize the release
of an attending
physician report? - ANSWER-Sign a
consent form
Which of the following is NOT a risk classification that an
underwriter would
use? - ANSWER-
Dividend Risk
How does a conditional receipt differ from a binding
receipt? - ANSWER-
Binding receipts always provide insurance which starts
from date of receipt
A report which is based on creditworthiness and personal
characteristics that
influences an insurance applicant's eligibility for life and health
insurance is called a(n) - ANSWER-Consumer Report
An applicant has revealed conditions that require more
information. Which of
, the following is needed next? - ANSWER-Attending
physician's statement
The risk selection process is primarily given to which
insurance company
department? - ANSWER-
Underwriting
When an applicant applies for insurance, the process by
which the insurer
determines whether to issue a policy is called - ANSWER-
Underwriting
Moral hazard is described as the - ANSWER-Increased
chance of a loss
because of an insured's dishonest
tendencies
Which of the following would NOT be accomplished with the
purchase of an
insurance policy? - ANSWER-Risk Is
Eliminated
An insurer having a large number of similar exposure units is
considered important because - ANSWER-The greater the
number insured, the more accurately the insurer can predict
losses and set appropriate premiums
