1|Page
XCEL Final Version 1 Newest 2026/2027 Actual Questions And
Correct Detailed Answers (verified Answers)||Already Graded
A+||Just Out!!!
P is looking to purchase a life insurance policy that will pay a
stated monthly income to his beneficiaries for 20 years after he
dies and a lump sum of $20,000 at the end of that 20 year
period. What type of policy should P purchase? - ANSWER-A
family maintenance policy
Which of the following is an example of a misrepresentation? -
ANSWER-describing a universal life policy as a security
Which of the following documents are NOT required to mention
the Colorado Fraud Statute? - ANSWER-Certificates
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? - ANSWER-30
To be licensed to sell life, accident, and health insurance in
Colorado, an applicant must complete - ANSWER-100 hour pre
licensing education
,2|Page
When is it appropriate for a producer's spouse to be the
primary beneficiary on an applicant's life insurance policy? -
ANSWER-When insurable interest exists
Which situation allows the producer to also be the beneficiary
on a client's application for life insurance? - ANSWER-When
insurable interest exists
A group life insurance policy holder must be given a grace
period for premium payment of how many days. - ANSWER-31
An applicant for a resident insurance producer's license MUST
meet which of the following requirements? - ANSWER-
Complete a pre licensing examination
A producer in Colorado must complete a minimum of ow many
hours of continuing education every 2 years? - ANSWER-24
A producer may legally share commissions only with - ANSWER-
Another producer who is licensed in the same line of insurance
, 3|Page
A producer who sells an individual life insurance policy in
Colorado MUST deliver to the policy owner... - ANSWER-A policy
summary and buyer's guide
A temporary license issued to an applicant for an insurance
license is valid for a maximum of how many days - ANSWER-180
days
All of the following activities may result in the revocation or
suspension of a producer's license EXCEPT - ANSWER-
representing a foreign insurance company
Continuing education is required of individuals licensed to sell
which of the following types of insurance? - ANSWER-Limited
Lines Credit
Continuing education requirements in Colorado apply to which
of the following persons? - ANSWER-Life insurance
Continuing education requirements in Colorado apply to which
of the following persons? - ANSWER-Resident producers
XCEL Final Version 1 Newest 2026/2027 Actual Questions And
Correct Detailed Answers (verified Answers)||Already Graded
A+||Just Out!!!
P is looking to purchase a life insurance policy that will pay a
stated monthly income to his beneficiaries for 20 years after he
dies and a lump sum of $20,000 at the end of that 20 year
period. What type of policy should P purchase? - ANSWER-A
family maintenance policy
Which of the following is an example of a misrepresentation? -
ANSWER-describing a universal life policy as a security
Which of the following documents are NOT required to mention
the Colorado Fraud Statute? - ANSWER-Certificates
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? - ANSWER-30
To be licensed to sell life, accident, and health insurance in
Colorado, an applicant must complete - ANSWER-100 hour pre
licensing education
,2|Page
When is it appropriate for a producer's spouse to be the
primary beneficiary on an applicant's life insurance policy? -
ANSWER-When insurable interest exists
Which situation allows the producer to also be the beneficiary
on a client's application for life insurance? - ANSWER-When
insurable interest exists
A group life insurance policy holder must be given a grace
period for premium payment of how many days. - ANSWER-31
An applicant for a resident insurance producer's license MUST
meet which of the following requirements? - ANSWER-
Complete a pre licensing examination
A producer in Colorado must complete a minimum of ow many
hours of continuing education every 2 years? - ANSWER-24
A producer may legally share commissions only with - ANSWER-
Another producer who is licensed in the same line of insurance
, 3|Page
A producer who sells an individual life insurance policy in
Colorado MUST deliver to the policy owner... - ANSWER-A policy
summary and buyer's guide
A temporary license issued to an applicant for an insurance
license is valid for a maximum of how many days - ANSWER-180
days
All of the following activities may result in the revocation or
suspension of a producer's license EXCEPT - ANSWER-
representing a foreign insurance company
Continuing education is required of individuals licensed to sell
which of the following types of insurance? - ANSWER-Limited
Lines Credit
Continuing education requirements in Colorado apply to which
of the following persons? - ANSWER-Life insurance
Continuing education requirements in Colorado apply to which
of the following persons? - ANSWER-Resident producers
