XCEL CHAPTER CERTIFICATION
SCRIPT 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◍ Stock insurer.
Answer: A non-participating company is also called
◍ Insurance policy.
Answer: Contract that involves one party which indemnifies another when a
loss arises from an unknown event
◍ Mutual.
Answer: A type of insurer that is owned by its policy owners is called
◍ Participating life insurance policy.
Answer: Life insurance policy issued by a mutual insurer provides a return
of divisible surplus
◍ Exist for profit.
Answer: Fraternal Benefit Society does NOT
◍ Reinsurance.
Answer: Type of insurance where an insurer transfers loss exposures from
policies written for its insurers
◍ It is the distribution of excess of funds accumulated by the insurer on
participating policies.
Answer: What is a true statement regarding a life insurance policy dividend?
◍ Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of.
Answer: 100% of costs
◍ Mutual Insurer.
, Answer: Insurer owned by its policyholders
◍ What is issued to each employee of an employer health plan?.
Answer: Certificate
◍ Marketing.
Answer: One important function of an insurance company is to identify and
sell to potential customers. Which of these BEST describes this function?
◍ Health insurance will typically cover which of the following perils?.
Answer: Injury due to accident
◍ Participating policy.
Answer: John owns an insurance policy that gives him the right to share in
the insurer's surplus. What kind of policy is this?
◍ The purpose of the Coordination of Benefits provision in group accident and
health plan is to.
Answer: Avoid overpayment of claimsThis is achieved by identifying
primary and secondary insurers.
◍ Non-participating policy.
Answer: Does not participate in paying dividends
◍ Without a section 125 plan in place, what would happen to an employee's
payroll contribution to an HSA?.
Answer: It would be considered taxable income to the
employeeContribution to an HSA may be made pre-tax under a Section 125
Cafeteria Plan. Without a section 125 plan in place, it would be considered
taxable income to the employee.
◍ A group disability income plan that pays tax-free benefits to covered
employees is considered.
Answer: fully contributory
◍ Participating life insurance policy.
Answer: Contract that allows the policy owner to receive a share of surplus
in the form of policy dividends
SCRIPT 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◍ Stock insurer.
Answer: A non-participating company is also called
◍ Insurance policy.
Answer: Contract that involves one party which indemnifies another when a
loss arises from an unknown event
◍ Mutual.
Answer: A type of insurer that is owned by its policy owners is called
◍ Participating life insurance policy.
Answer: Life insurance policy issued by a mutual insurer provides a return
of divisible surplus
◍ Exist for profit.
Answer: Fraternal Benefit Society does NOT
◍ Reinsurance.
Answer: Type of insurance where an insurer transfers loss exposures from
policies written for its insurers
◍ It is the distribution of excess of funds accumulated by the insurer on
participating policies.
Answer: What is a true statement regarding a life insurance policy dividend?
◍ Sole proprietors are permitted tax deductions for health costs paid from their
earnings in the amount of.
Answer: 100% of costs
◍ Mutual Insurer.
, Answer: Insurer owned by its policyholders
◍ What is issued to each employee of an employer health plan?.
Answer: Certificate
◍ Marketing.
Answer: One important function of an insurance company is to identify and
sell to potential customers. Which of these BEST describes this function?
◍ Health insurance will typically cover which of the following perils?.
Answer: Injury due to accident
◍ Participating policy.
Answer: John owns an insurance policy that gives him the right to share in
the insurer's surplus. What kind of policy is this?
◍ The purpose of the Coordination of Benefits provision in group accident and
health plan is to.
Answer: Avoid overpayment of claimsThis is achieved by identifying
primary and secondary insurers.
◍ Non-participating policy.
Answer: Does not participate in paying dividends
◍ Without a section 125 plan in place, what would happen to an employee's
payroll contribution to an HSA?.
Answer: It would be considered taxable income to the
employeeContribution to an HSA may be made pre-tax under a Section 125
Cafeteria Plan. Without a section 125 plan in place, it would be considered
taxable income to the employee.
◍ A group disability income plan that pays tax-free benefits to covered
employees is considered.
Answer: fully contributory
◍ Participating life insurance policy.
Answer: Contract that allows the policy owner to receive a share of surplus
in the form of policy dividends
