Insurance license practice XCEL solutions FINAL Exam 2 Questions with 100% Correct Answers Latest Graded A+

Insurance license practice XCEL solutions FINAL Exam 2 Questions
with 100% Correct Answers Latest Graded A+


Question 1

Question:
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary?
Answer:
Life income


Question 2

Question:
A new agent must complete at least hours of continuing education within 24 months of initial
license?
Answer:
24 hours


Question 3

Question:
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer
discovers that L has understated range on the application. Under the misstatement of age provision
the insurer will?
Answer:
Adjust the death benefits to a reduced amount


Question 4

Question:
An example of false advertising would be?
Answer:
And insurer exaggerating in dividends in a magazine advertisement

,Question 5

Question:
With whom an agent legally share commissions?
Answer:
Another agent with the same line of insurance


Question 6

Question:
Insurance agent as a fiduciary responsibility to all of the following EXCEPT?
Answer:
Other agents


Question 7

Question:
Which of these is not an example of doing insurance business?
Answer:
Selling shares of stock


Question 8

Question:
taking receipt of premiums and holding them for the insurance company is an example of?
Answer:
Fiduciary responsibility


Question 9

Question:
How does an indexed annuity differ from a fixed annuity?
Answer:
Indexed annuity owners receive crediting interest time to the fluctuation of the linked index


Question 10

, Question:
which of the following policies combines investment choices with a form of Term coverage?
Answer:
Variable universal life


Question 11

Question:
How long does an insurance company appointment remain in force?
Answer:
Until terminated


Question 12

Question:
in Texas an individual life insurance policy is REQUIRED to have a grace period of?
Answer:
31 days


Question 13

Question:
Which statement is TRUE regarding a variable whole life policy?
Answer:
A minimum guaranteed death benefit is provided


Question 14

Question:
in an insurance contract the insurer is the only party who makes a
Answer:
Unilateral


Question 15

Question: