XCEL LIFE INSURANCE INDIANA FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is
called a(n) - (ANSWER)Deferred Annuity
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5
years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? -
(ANSWER)60 Payments
What distinguishes a deferred annuity from an immediate annuity? - (ANSWER)The time at which
benefit payments start
The systematic liquidation of a sum of money is provided by a(n) - (ANSWER)Annuity
What kind of annuity pays income to two annuitants until their deaths? - (ANSWER)Joint And Survivor
Annuity
Which of the following is NOT a feature of equity-indexed annuities? - (ANSWER)Offers a maximum
interest rate that increases annually
An annuitant would like to determine the amount of an annuity distribution that is exempt from
taxation. What is used to calculate this? - (ANSWER)Exclusion Ratio
An annuity which is backed by a life insurer's separate account is called a(n) - (ANSWER)Variable Annuity
,XCEL LIFE INSURANCE INDIANA FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
Which of the following is a contract that involves one party which indemnifies another when a loss
arises from an unknown event? - (ANSWER)Insurance Policy
Which of the following is NOT a benefit of insurance? - (ANSWER)Losses due to fraud are eliminated
What is a participating life insurance policy? - (ANSWER)Contract that allows the policyowner to receive
a share of surplus in the form of policy dividends
Which of the following is an insurer established by a parent company for the purpose of insuring the
parent company's loss exposures? - (ANSWER)Captive Insurer
Which of the following is NOT a characteristic of reinsurance? - (ANSWER)Increases the unearned
premium reserve
Which of the following is a type of insurance where an insurer transfers loss exposures from policies
written for its insureds? - (ANSWER)Reinsurance
An insurer owned by its policyholders is called a - (ANSWER)Mutual Insurer
Which of the following contracts is defined as "one that restores an injured party to the condition that
was present before the loss"? - (ANSWER)Indemnity Contract
, XCEL LIFE INSURANCE INDIANA FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
If a material warranty violation on the part of the insured is found, what recourse does an insurer have?
- (ANSWER)Rescind The Policy
Restoring an insured to the same condition as before a loss is an example of the principle of -
(ANSWER)Indemnity
Reasonably necessary acts that an agent must perform for carrying out his/her expressly authorized
duties are covered by an agent's - (ANSWER)Implied Authority
Which principle is accurately described with the statement "Insureds are entitled to recover an amount
NOT greater than the amount of their loss"? - (ANSWER)Indemnity
Which statement is CORRECT when describing a contract of adhesion? - (ANSWER)Contract may be
accepted or rejected by the insured
Express power given to an agent in an agency agreement is - (ANSWER)The authority to represent the
insurer
What is the price of insurance for each exposure unit? - (ANSWER)Rate
A creditor would be allowed rights to life insurance policy proceeds if which of the following
beneficiaries is chosen? - (ANSWER)The Insured's Estate
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is
called a(n) - (ANSWER)Deferred Annuity
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5
years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? -
(ANSWER)60 Payments
What distinguishes a deferred annuity from an immediate annuity? - (ANSWER)The time at which
benefit payments start
The systematic liquidation of a sum of money is provided by a(n) - (ANSWER)Annuity
What kind of annuity pays income to two annuitants until their deaths? - (ANSWER)Joint And Survivor
Annuity
Which of the following is NOT a feature of equity-indexed annuities? - (ANSWER)Offers a maximum
interest rate that increases annually
An annuitant would like to determine the amount of an annuity distribution that is exempt from
taxation. What is used to calculate this? - (ANSWER)Exclusion Ratio
An annuity which is backed by a life insurer's separate account is called a(n) - (ANSWER)Variable Annuity
,XCEL LIFE INSURANCE INDIANA FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
Which of the following is a contract that involves one party which indemnifies another when a loss
arises from an unknown event? - (ANSWER)Insurance Policy
Which of the following is NOT a benefit of insurance? - (ANSWER)Losses due to fraud are eliminated
What is a participating life insurance policy? - (ANSWER)Contract that allows the policyowner to receive
a share of surplus in the form of policy dividends
Which of the following is an insurer established by a parent company for the purpose of insuring the
parent company's loss exposures? - (ANSWER)Captive Insurer
Which of the following is NOT a characteristic of reinsurance? - (ANSWER)Increases the unearned
premium reserve
Which of the following is a type of insurance where an insurer transfers loss exposures from policies
written for its insureds? - (ANSWER)Reinsurance
An insurer owned by its policyholders is called a - (ANSWER)Mutual Insurer
Which of the following contracts is defined as "one that restores an injured party to the condition that
was present before the loss"? - (ANSWER)Indemnity Contract
, XCEL LIFE INSURANCE INDIANA FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+ // BRAND NEW!!
If a material warranty violation on the part of the insured is found, what recourse does an insurer have?
- (ANSWER)Rescind The Policy
Restoring an insured to the same condition as before a loss is an example of the principle of -
(ANSWER)Indemnity
Reasonably necessary acts that an agent must perform for carrying out his/her expressly authorized
duties are covered by an agent's - (ANSWER)Implied Authority
Which principle is accurately described with the statement "Insureds are entitled to recover an amount
NOT greater than the amount of their loss"? - (ANSWER)Indemnity
Which statement is CORRECT when describing a contract of adhesion? - (ANSWER)Contract may be
accepted or rejected by the insured
Express power given to an agent in an agency agreement is - (ANSWER)The authority to represent the
insurer
What is the price of insurance for each exposure unit? - (ANSWER)Rate
A creditor would be allowed rights to life insurance policy proceeds if which of the following
beneficiaries is chosen? - (ANSWER)The Insured's Estate
