Xcel Solutions Final Exam - Michigan Life
and Health (2026) Exam Questions &
Answers | Latest Already Graded A+
UPDATE 2026!! STUDY GUIDE EXAM
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT -CORRECTANSWER insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do
Not Call Registry
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 -CORRECTANSWER 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) -
CORRECTANSWER 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 -CORRECTANSWER 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? -CORRECTANSWER
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? -CORRECTANSWER 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? -CORRECTANSWER
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between -CORRECTANSWER 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? -CORRECTANSWER 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? -CORRECTANSWER 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? -CORRECTANSWER
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 -CORRECTANSWER 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? -
CORRECTANSWER 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 -CORRECTANSWER 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? -CORRECTANSWER 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 -
CORRECTANSWER 65
and Health (2026) Exam Questions &
Answers | Latest Already Graded A+
UPDATE 2026!! STUDY GUIDE EXAM
The Do Not Call Registry offers exemptions for calls placed from all of the following
EXCEPT -CORRECTANSWER insurance sales calls
Charities, political organizations, and surveys are all offered exemptions from The Do
Not Call Registry
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 -CORRECTANSWER 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) -
CORRECTANSWER 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 -CORRECTANSWER 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? -CORRECTANSWER
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? -CORRECTANSWER 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? -CORRECTANSWER
Injury due to accident
Accidental injury is typically a covered peril in health insurance.
A viatical settlement contract is an agreement between -CORRECTANSWER 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? -CORRECTANSWER 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? -CORRECTANSWER 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? -CORRECTANSWER
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 -CORRECTANSWER 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? -
CORRECTANSWER 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 -CORRECTANSWER 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? -CORRECTANSWER 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 -
CORRECTANSWER 65
