XCEL LIFE INSURANCE INDIANA FINAL m m m m
EXAM TEST | COMPLETE 2025 ACTUAL EX m m m m m m
AM WITH CORRECT VERIFIED ANSWERS
m m m m
| GUARANTEED A+ EXAM EXCELLENCE
m m m m
M has an insurance policy that also has an outstanding policy loan at t
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he time of M's death. The insurer will deduct the outstanding loan bal
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ance from the: - ✔✔✔ Correct Answer > policy proceeds
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The stated amount or percent of liquid assets that an insurer must hav
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e on hand that will satisfy future obligations to its policyholders is calle
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d:
- ✔✔✔ Correct Answer > Reserves
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A nonprofit incorporated society that does not have capital stock and o
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perates for the sole benefit of its members is known as: -
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m ✔✔✔ Correct Answer > Fraternal Benefit Society
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,A provision in a life insurance policy that pays the policyowner an amo
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unt that does surpass the guaranteed cash value is called the: -
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✔✔✔ Correct Answer > Policy loan provision
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Which life insurance rider typically appears on a juvenile life insurance
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policy? - ✔✔✔ Correct Answer > Payor benefits rider
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At what point must a life insurance applicant be informed of their right
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s that fall under the fair credit reporting act -
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m ✔✔✔ Correct Answer > Upon completion of the application
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Who elects the governing body of a mutual insurance company? -
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✔✔✔ Correct Answer > policyholders
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,Which of these describes e a participating insurance policy? - ✔✔✔
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Correct Answer > Policyowners are entitled to receive dividends
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Dividends payable to a policy owner are: -
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m ✔✔✔ Correct Answer > Declared by the insurance company
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What types of reinsurance contract involves two companies automatic
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ally sharing their risk exposure - ✔✔✔ Correct Answer > Treaty
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Which of the following consists of an offer, acceptance and considerati
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on? - ✔✔✔ Correct Answer > Contract
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The part of a life insurance policy guaranteed to be true is called a: -
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✔✔✔ Correct Answer > Warranty
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, Who makes the legally enforceable promises in a unilateral insurance p
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olicy? - ✔✔✔ Correct Answer > Insurance company
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Which of these is NOT a type of agent authority? -
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m ✔✔✔ Correct Answer > Principal
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In an insurance contract, the insurer is the only party who makes
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a legally enforceable promise. What kind of contract is this? -
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m ✔✔✔ Correct Answer > Unilateral
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Insurance policies are considered aleatory contracts because - ✔✔✔
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Correct Answer > Performance is conditions upon a future occurrence
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EXAM TEST | COMPLETE 2025 ACTUAL EX m m m m m m
AM WITH CORRECT VERIFIED ANSWERS
m m m m
| GUARANTEED A+ EXAM EXCELLENCE
m m m m
M has an insurance policy that also has an outstanding policy loan at t
m m m m m m m m m m m m m
he time of M's death. The insurer will deduct the outstanding loan bal
m m m m m m m m m m m m
ance from the: - ✔✔✔ Correct Answer > policy proceeds
m m m m m m m m m
The stated amount or percent of liquid assets that an insurer must hav
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e on hand that will satisfy future obligations to its policyholders is calle
m m m m m m m m m m m m
d:
- ✔✔✔ Correct Answer > Reserves
m m m m m
A nonprofit incorporated society that does not have capital stock and o
m m m m m m m m m m m
perates for the sole benefit of its members is known as: -
m m m m m m m m m m m
m ✔✔✔ Correct Answer > Fraternal Benefit Society
m m m m m m
,A provision in a life insurance policy that pays the policyowner an amo
m m m m m m m m m m m m
unt that does surpass the guaranteed cash value is called the: -
m m m m m m m m m m m
✔✔✔ Correct Answer > Policy loan provision
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Which life insurance rider typically appears on a juvenile life insurance
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policy? - ✔✔✔ Correct Answer > Payor benefits rider
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At what point must a life insurance applicant be informed of their right
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s that fall under the fair credit reporting act -
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m ✔✔✔ Correct Answer > Upon completion of the application
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Who elects the governing body of a mutual insurance company? -
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✔✔✔ Correct Answer > policyholders
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,Which of these describes e a participating insurance policy? - ✔✔✔
m m m m m m m m m m
Correct Answer > Policyowners are entitled to receive dividends
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Dividends payable to a policy owner are: -
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m ✔✔✔ Correct Answer > Declared by the insurance company
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What types of reinsurance contract involves two companies automatic
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ally sharing their risk exposure - ✔✔✔ Correct Answer > Treaty
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Which of the following consists of an offer, acceptance and considerati
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on? - ✔✔✔ Correct Answer > Contract
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The part of a life insurance policy guaranteed to be true is called a: -
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✔✔✔ Correct Answer > Warranty
m m m m
, Who makes the legally enforceable promises in a unilateral insurance p
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olicy? - ✔✔✔ Correct Answer > Insurance company
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Which of these is NOT a type of agent authority? -
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m ✔✔✔ Correct Answer > Principal
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In an insurance contract, the insurer is the only party who makes
m m m m m m m m m m m m
a legally enforceable promise. What kind of contract is this? -
m m m m m m m m m m
m ✔✔✔ Correct Answer > Unilateral
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Insurance policies are considered aleatory contracts because - ✔✔✔
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Correct Answer > Performance is conditions upon a future occurrence
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