XCEL LIFE INSURANCE EXAM UPDATED AND REVISED IN
2025-2026 DECEMBER
A professional liability for which producers can be sued for mistakes
of putting a policy into effect is called
errors and omissions
How much does Medicare part B pay for physician fees
80%
Agents that have been licensed for less than six years must complete
hours of continuing education every two years
24
Reggie purchased a life insurance policy with a face amount of
$500,000. After 15 years the cash value has accumulated to $100,000
and the policies face amount has become $600,000. Which type of life
insurance policy is this
Universal life
According to Florida law which of the following information does NOT
need to be obtained by an agent recommending an annuity purchase
marital status
,Which of the following factors is NOT considered when the
Department of Financial Services determines if an agent's home is an
insurance agency
The amount of premium collected at this location
A change in an insurance application requires
an initial made by the applicant
An example of an unfair trade practice is
an agent making a material misrepresentation to the insured
Which type of multiple protection policy pays on the death of the last
person
Survivorship life policy
In Florida agent's are allowed to engage in rebating if
Offered to all insureds the same actuarial class
Shirley has a $500,000 10-year non-renewable level term policy. If she
dies 15 years after the policy's inception date how much will her
beneficiary receive
Nothing
An applicant's character and personal habits can be obtained for
underwriting purposes from which source
Investigative consumer report
What is the automatic continuance of insurance coverage referred to
as
renewal
What is required in the Florida Employee Health Care Access Act
Small group benefit plans are to be issued on a "guarantee-issue" basis
According to Florida law, a Group Life insurance policy requires a
minimum of how many insureds
,No minimum
Which of the following employees may NOT be excluded from a group
life plan
Full-time employees after the probationary period
The clause in an Accident and Health policy which defines the benefit
amounts the insurer will pay is called the
Insuring clause
Health insurance benefits NOT covered due to an act of war are
excluded by the insurer in the contract provisions
Which type of clause describes the following statement: "We have
issued the policy in consideration of the representations in your
applications and payment of the first-term premium"
Consideration clause
The Florida Employee Health Care Access Act was established to
make
group health insurance available to employers with up to 50 employees
A life insurance policy owner was injured in an automobile accident
which results in a total and permanent disability. Which writer would
pay a monthly amount because of this disability
Disability income rider
A Medicare supplement policy must NOT contain benefits which
duplicate Medicare benefits
T is an employee covered under a Group Life policy. If T's
employment is terminated, the conversion privilege gives T the right
to convert
to an individual policy upon employment termination
, Which of the following professional organizations has its code of
ethics incorporated into Florida law
National Association of Insurance and Financial Advisors (NAIFA)
A life insurance policy which contains cash values that vary
according to its investment performance of stocks is called
Variable Whole Life
If an insured dies during the grace period with no premiums paid
the policy would be payable, minus the premium amount
Which of these ensures that proceeds of a life insurance policy will be
free from attachment or seizure by the beneficiary's creditors
Spendthrift clause
An annuitant is guaranteed to NOT outlive their benefits with a(n)
Guaranteed lifetime withdrawal benefit
The free look provision gives the policy owner
the right to return the policy for a full refund within a specified number of
days
Which of these is NOT considered to be a nonforfeiture option in a
whole life insurance policy
Interest only
A whole life policy option where extended term insurance is selected
is called a(n)
nonforfeiture option
A person insured under a health policy is required to give the
insurance company a Notice of Claim within how many days after a
covered loss
20
Which of these is considered a mandatory provision
Payment of Claims
A mutual insurance company and a stock insurance company have
2025-2026 DECEMBER
A professional liability for which producers can be sued for mistakes
of putting a policy into effect is called
errors and omissions
How much does Medicare part B pay for physician fees
80%
Agents that have been licensed for less than six years must complete
hours of continuing education every two years
24
Reggie purchased a life insurance policy with a face amount of
$500,000. After 15 years the cash value has accumulated to $100,000
and the policies face amount has become $600,000. Which type of life
insurance policy is this
Universal life
According to Florida law which of the following information does NOT
need to be obtained by an agent recommending an annuity purchase
marital status
,Which of the following factors is NOT considered when the
Department of Financial Services determines if an agent's home is an
insurance agency
The amount of premium collected at this location
A change in an insurance application requires
an initial made by the applicant
An example of an unfair trade practice is
an agent making a material misrepresentation to the insured
Which type of multiple protection policy pays on the death of the last
person
Survivorship life policy
In Florida agent's are allowed to engage in rebating if
Offered to all insureds the same actuarial class
Shirley has a $500,000 10-year non-renewable level term policy. If she
dies 15 years after the policy's inception date how much will her
beneficiary receive
Nothing
An applicant's character and personal habits can be obtained for
underwriting purposes from which source
Investigative consumer report
What is the automatic continuance of insurance coverage referred to
as
renewal
What is required in the Florida Employee Health Care Access Act
Small group benefit plans are to be issued on a "guarantee-issue" basis
According to Florida law, a Group Life insurance policy requires a
minimum of how many insureds
,No minimum
Which of the following employees may NOT be excluded from a group
life plan
Full-time employees after the probationary period
The clause in an Accident and Health policy which defines the benefit
amounts the insurer will pay is called the
Insuring clause
Health insurance benefits NOT covered due to an act of war are
excluded by the insurer in the contract provisions
Which type of clause describes the following statement: "We have
issued the policy in consideration of the representations in your
applications and payment of the first-term premium"
Consideration clause
The Florida Employee Health Care Access Act was established to
make
group health insurance available to employers with up to 50 employees
A life insurance policy owner was injured in an automobile accident
which results in a total and permanent disability. Which writer would
pay a monthly amount because of this disability
Disability income rider
A Medicare supplement policy must NOT contain benefits which
duplicate Medicare benefits
T is an employee covered under a Group Life policy. If T's
employment is terminated, the conversion privilege gives T the right
to convert
to an individual policy upon employment termination
, Which of the following professional organizations has its code of
ethics incorporated into Florida law
National Association of Insurance and Financial Advisors (NAIFA)
A life insurance policy which contains cash values that vary
according to its investment performance of stocks is called
Variable Whole Life
If an insured dies during the grace period with no premiums paid
the policy would be payable, minus the premium amount
Which of these ensures that proceeds of a life insurance policy will be
free from attachment or seizure by the beneficiary's creditors
Spendthrift clause
An annuitant is guaranteed to NOT outlive their benefits with a(n)
Guaranteed lifetime withdrawal benefit
The free look provision gives the policy owner
the right to return the policy for a full refund within a specified number of
days
Which of these is NOT considered to be a nonforfeiture option in a
whole life insurance policy
Interest only
A whole life policy option where extended term insurance is selected
is called a(n)
nonforfeiture option
A person insured under a health policy is required to give the
insurance company a Notice of Claim within how many days after a
covered loss
20
Which of these is considered a mandatory provision
Payment of Claims
A mutual insurance company and a stock insurance company have
