XCEL TESTING SOLUTIONS LIFE AND HEALTH
FINAL PRACTICE EXAM 2026 FULL 150
QUESTIONS AND SOLUTIONS 100% CORRECT
◉ The type of policy where the insurer can send a notice to the
insured that the policy has been cancelled in the middle of the term
is called. Answer: cancelable
The renewability provision in a cancelable policy allows the insurer
to cancel or terminate the policy at any time, simply by providing
written notification to the insured and refunding any advance
premium that has been paid.
◉ Barbara's policy includes a rider which allows her to purchase
additional insurance at specific dates or events without evidence of
insurability. This rider is called a(n). Answer: Guaranteed
insurability rider
A guaranteed insurability rider allows for the insured to purchase
additional insurance at specific dates or events without evidence of
insurability.
◉ Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered. Answer:
Noncancellable
A noncancellable policy cannot be cancelled nor can its premium
rates be increased under any circumstances.
,◉ In what part of an insurance policy are policy benefits found?.
Answer: Declarations
Essentially, the insurance declaration page is like a quick guide to
the insurance policy, providing all of the basic information the
policyholder needs to know.
◉ What happens if the insurer discovers that the insured's age was
accidentally misstated on an application for an individual life
insurance policy?. Answer: Benefits will be calculated according to
how much coverage the premium paid would have purchased for the
correct age
Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age.
◉ Health insurance will typically cover which of the following
perils?. Answer: Injury due to accident
Accidental injury is typically a covered peril in health insurance.
◉ A viatical settlement contract is an agreement between. Answer: A
life insurance policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life
insurance policyowner and a viatical settlement provider.
,◉ Under the Affordable Care Act, how would a grandfathered health
plan lose its grandfathered status?. Answer: The insurer significantly
raises co-insurance charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans
may lose their grandfathered status if the insurer significantly raises
co-insurance charges, deductibles, or co-payment charges
◉ Which of these techniques will remove the risk of losing money in
the stock market by never purchasing stocks?. Answer: Risk
avoidance
Risk avoidance could eliminate the risk of losing money in the stock
market by never investing in stocks.
◉ Which of the following nursing home options would BEST suit an
individual who needs some nursing care and supervision but NOT
full-time care?. Answer: Assisted living facilities
An assisted living facility would best suit an individual who needs
some nursing care and supervision but not full-time care.
◉ Under Louisiana law, the agreement between an insurance
producer and insurer under which the insurance producer, for
compensation, may sell, solicit, or negotiate policies issued by the
insurer is defined as. Answer: an appointment
The agreement between an insurance producer and insurer under
which the insurance producer, for compensation, may sell, solicit, or
negotiate policies issued by the insurer is called an appointment.
, ◉ Which of these would NOT be considered a presumptive
disability?. Answer: Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive
disability.
◉ A producer's license in Louisiana must be renewed every. Answer:
Two years
Producer licenses are issued for periods of 2 years.
◉ Bill requires some nursing care and supervision but NOT full-time
care. Which of these nursing home options would best serve him?.
Answer: Assisted living
An assisted living facility would best suit an individual who needs
some nursing care and supervision but not full-time care.
◉ The open enrollment period for Medicare Supplements begins at
age. Answer: 65
Open enrollment for Medicare Supplements begins at the age the
individual becomes eligible for Medicare, which is typically age 65.
◉ Mark continues working after the age of 65 and is covered
through his employer's group health plan. Which of the following
statements is TRUE?. Answer: Medicare is the secondary payer
FINAL PRACTICE EXAM 2026 FULL 150
QUESTIONS AND SOLUTIONS 100% CORRECT
◉ The type of policy where the insurer can send a notice to the
insured that the policy has been cancelled in the middle of the term
is called. Answer: cancelable
The renewability provision in a cancelable policy allows the insurer
to cancel or terminate the policy at any time, simply by providing
written notification to the insured and refunding any advance
premium that has been paid.
◉ Barbara's policy includes a rider which allows her to purchase
additional insurance at specific dates or events without evidence of
insurability. This rider is called a(n). Answer: Guaranteed
insurability rider
A guaranteed insurability rider allows for the insured to purchase
additional insurance at specific dates or events without evidence of
insurability.
◉ Disability Income plans which require that the insurer can NEVER
change or alter premium rates are usually considered. Answer:
Noncancellable
A noncancellable policy cannot be cancelled nor can its premium
rates be increased under any circumstances.
,◉ In what part of an insurance policy are policy benefits found?.
Answer: Declarations
Essentially, the insurance declaration page is like a quick guide to
the insurance policy, providing all of the basic information the
policyholder needs to know.
◉ What happens if the insurer discovers that the insured's age was
accidentally misstated on an application for an individual life
insurance policy?. Answer: Benefits will be calculated according to
how much coverage the premium paid would have purchased for the
correct age
Benefits will be calculated according to how much coverage the
premium paid would have purchased for the correct age.
◉ Health insurance will typically cover which of the following
perils?. Answer: Injury due to accident
Accidental injury is typically a covered peril in health insurance.
◉ A viatical settlement contract is an agreement between. Answer: A
life insurance policyowner and a viatical settlement provider
A viatical settlement contract is an agreement between a life
insurance policyowner and a viatical settlement provider.
,◉ Under the Affordable Care Act, how would a grandfathered health
plan lose its grandfathered status?. Answer: The insurer significantly
raises co-insurance charges, deductibles, or co-payment charges
According to the Affordable Care Act, grandfathered health plans
may lose their grandfathered status if the insurer significantly raises
co-insurance charges, deductibles, or co-payment charges
◉ Which of these techniques will remove the risk of losing money in
the stock market by never purchasing stocks?. Answer: Risk
avoidance
Risk avoidance could eliminate the risk of losing money in the stock
market by never investing in stocks.
◉ Which of the following nursing home options would BEST suit an
individual who needs some nursing care and supervision but NOT
full-time care?. Answer: Assisted living facilities
An assisted living facility would best suit an individual who needs
some nursing care and supervision but not full-time care.
◉ Under Louisiana law, the agreement between an insurance
producer and insurer under which the insurance producer, for
compensation, may sell, solicit, or negotiate policies issued by the
insurer is defined as. Answer: an appointment
The agreement between an insurance producer and insurer under
which the insurance producer, for compensation, may sell, solicit, or
negotiate policies issued by the insurer is called an appointment.
, ◉ Which of these would NOT be considered a presumptive
disability?. Answer: Loss of a leg or arm
The loss of ONE arm or a leg is NOT considered a presumptive
disability.
◉ A producer's license in Louisiana must be renewed every. Answer:
Two years
Producer licenses are issued for periods of 2 years.
◉ Bill requires some nursing care and supervision but NOT full-time
care. Which of these nursing home options would best serve him?.
Answer: Assisted living
An assisted living facility would best suit an individual who needs
some nursing care and supervision but not full-time care.
◉ The open enrollment period for Medicare Supplements begins at
age. Answer: 65
Open enrollment for Medicare Supplements begins at the age the
individual becomes eligible for Medicare, which is typically age 65.
◉ Mark continues working after the age of 65 and is covered
through his employer's group health plan. Which of the following
statements is TRUE?. Answer: Medicare is the secondary payer
