FL Xcel Exam Simulator Latest 2025 with 200 Practice Questions and
Correct STUDY GUIDE | ACTUAL EXAM QUESTIONS AND ANSWERS
AND RATIONALES | EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE /BRAND NEW WITH MST TESTED QUESTINS
GRADED A+
THE FL XCEL EXAM SIMULATOR IS DESIGNED TO PREPARE CANDIDATES FOR THE FLORIDA
LIFE, HEALTH, AND ANNUITIES INSURANCE LICENSING EXAM. THIS 2025 RESOURCE
INCLUDES 200 ACTUAL EXAM-STYLE QUESTIONS WITH VERIFIED ANSWERS AND
EXPLANATORY RATIONALES. IT COVERS ALL MAJOR TESTED DOMAINS AND PROVIDES A
STRATEGIC STUDY GUIDE TO ENSURE A COMPREHENSIVE UNDERSTANDING OF INSURANCE
PRINCIPLES. IDEAL FOR FIRST-TIME TEST TAKERS SEEKING A GUARANTEED PASS.
What type of group plan involves employees sharing the cost? - CORRECT ANSWER-contributory
plan.
Which of these circumstances is a Business Disability Buy-Sell policy designed to help in the sale of a
business? - CORRECT ANSWER-Business owner becoming disabled.
Whole Life insurance policies are contractually guaranteed to provide each of the following, EXCEPT:
-cash value that will ultimately replace the death benefit
-nonforfeiture benefit options
-premiums that remain fixed for the life of the policy
-partial withdrawal features beyond a surrender charge period - CORRECT ANSWER-partial
withdrawal features beyond a surrender charge period
Under a Long Term Care policy, which benefit would be typically excluded or limited? - CORRECT
ANSWER-Alcohol rehabilitation
In florida, which of the following practitioners normally do NOT receive payment from health
insurance policies?
-optometrists
-pediatricians
-dentists
-naturopaths - CORRECT ANSWER-naturopaths
,The annuity that represents the largest possible monthly payment to an individual annuitant is a(n) -
CORRECT ANSWER-Straight life annuity
pays the largest monthly benefit to a single annuitant because it is based only on life expectancy, but
it creates a risk that the annuitant may die early and forfeit much of the value of the annuity to
increase the insurance company
During the course of an insurance transaction, if an agent makes a false or incomplete statement,
he/she could be found guilty of - CORRECT ANSWER-Misrepresentation
The first portion of a covered Major Medical insurance expense that the insured is required to pay is
called the - CORRECT ANSWER-Initial deductible
Which of these statements is INCORRECT regarding the federal income tax treatment of life
insurance?
-premiums are normally not tax deductible
-cash dividends are normally not taxed
-entire cash surrender value is taxable
-proceeds are received tax-free if there is a named beneficiary - CORRECT ANSWER-entire cash
surrender value is taxable
only the interest gained is taxable
Which of these are NOT an example of a nonforfeiture option?
-extended term
-reduced paid-up
-cash surrender
-life income - CORRECT ANSWER-Life income
The USA Patriot Act was enacted in: - CORRECT ANSWER-2001
it was enacted to detect and deter terrorism
,An individual Disability Income insurance applicant may be required to submit all of the following
information EXCEPT
-medical history
-gross income
-occupation
-spouse's occupation - CORRECT ANSWER-Spouse's occupation
P is a forty year old woman and would like to purchase an annuity that will provide a lifetime income
stream beginning at age sixty. Which of the following did she NOT buy?
-A straight life deferred annuity
-A straight life annuity
-An immediate annuity
-A deferred annuity - CORRECT ANSWER-An immediate annuity
An immediate annuity is designed to make its first benefit payment to the annuitant at one payment
interval from the date of purchase
Which of the following employees may NOT be excluded from a group life plan?
-part-time employees
-seasonal workers
-full-time employees before the probationary period
-full-time employees after the probationary period - CORRECT ANSWER-full-time employees after
the probationary period
Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing
additional amounts of coverage at predetermined times without requiring to provide evidence of
insurability. What kind of rider is this? - CORRECT ANSWER-Guaranteed insurability rider
What are adjustable rates for life policy loans in Florida based on? - CORRECT ANSWER-Moody's
corporate bond index
B is a teacher who was injured in a car accident and cannot work. She is now receiving monthly
benefits as a result of this accident. Which type of policy does B have? - CORRECT ANSWER-
Disability income
, F needs life insurance that provides coverage for only a limited amount of time with a death benefit
that changes regularly according to a schedule. What kind of policy is needed? - CORRECT
ANSWER-Decreasing term policy ..
A life insurance policy written for a specified period of time with a death benefit that changes
regularly according to schedule is a decreasing term policy
Which of the following statements about Health Reimbursement Arrangements (HRA) is CORRECT?
-if the employee had a qualified medical leave from work, lost wages can be reimbursed
-if the employee paid for qualified medical expenses, the reimbursements may be tax-free
-any unused amounts are added to employee's gross income
-health insurance premiums can be reimbursed to the employee - CORRECT ANSWER-if the
employee paid for qualified medical expenses, the reimbursements may be tax-free
A characteristic of Preferred Provider Organizations (PPO's) would be:
-discounted fees for the patient
-not allowed to see out-of-network physicians
-Physicians are paid on a capitation basis
-A primary care physician is required - CORRECT ANSWER-discounted fees for the patient
patient fees are discounted in return for using listed providers
Medicare Part A and Part B do NOT pay for:
-dental work
-hospitalization
-skilled nursing care
-physical therapy - CORRECT ANSWER-Dental work
What types of employee welfare plans are not subject to ERISA regulations?
-church plans
-major medical plans
-corporate
-qualified plans - CORRECT ANSWER-Church plans are exempt from ERISA regulations
Correct STUDY GUIDE | ACTUAL EXAM QUESTIONS AND ANSWERS
AND RATIONALES | EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE /BRAND NEW WITH MST TESTED QUESTINS
GRADED A+
THE FL XCEL EXAM SIMULATOR IS DESIGNED TO PREPARE CANDIDATES FOR THE FLORIDA
LIFE, HEALTH, AND ANNUITIES INSURANCE LICENSING EXAM. THIS 2025 RESOURCE
INCLUDES 200 ACTUAL EXAM-STYLE QUESTIONS WITH VERIFIED ANSWERS AND
EXPLANATORY RATIONALES. IT COVERS ALL MAJOR TESTED DOMAINS AND PROVIDES A
STRATEGIC STUDY GUIDE TO ENSURE A COMPREHENSIVE UNDERSTANDING OF INSURANCE
PRINCIPLES. IDEAL FOR FIRST-TIME TEST TAKERS SEEKING A GUARANTEED PASS.
What type of group plan involves employees sharing the cost? - CORRECT ANSWER-contributory
plan.
Which of these circumstances is a Business Disability Buy-Sell policy designed to help in the sale of a
business? - CORRECT ANSWER-Business owner becoming disabled.
Whole Life insurance policies are contractually guaranteed to provide each of the following, EXCEPT:
-cash value that will ultimately replace the death benefit
-nonforfeiture benefit options
-premiums that remain fixed for the life of the policy
-partial withdrawal features beyond a surrender charge period - CORRECT ANSWER-partial
withdrawal features beyond a surrender charge period
Under a Long Term Care policy, which benefit would be typically excluded or limited? - CORRECT
ANSWER-Alcohol rehabilitation
In florida, which of the following practitioners normally do NOT receive payment from health
insurance policies?
-optometrists
-pediatricians
-dentists
-naturopaths - CORRECT ANSWER-naturopaths
,The annuity that represents the largest possible monthly payment to an individual annuitant is a(n) -
CORRECT ANSWER-Straight life annuity
pays the largest monthly benefit to a single annuitant because it is based only on life expectancy, but
it creates a risk that the annuitant may die early and forfeit much of the value of the annuity to
increase the insurance company
During the course of an insurance transaction, if an agent makes a false or incomplete statement,
he/she could be found guilty of - CORRECT ANSWER-Misrepresentation
The first portion of a covered Major Medical insurance expense that the insured is required to pay is
called the - CORRECT ANSWER-Initial deductible
Which of these statements is INCORRECT regarding the federal income tax treatment of life
insurance?
-premiums are normally not tax deductible
-cash dividends are normally not taxed
-entire cash surrender value is taxable
-proceeds are received tax-free if there is a named beneficiary - CORRECT ANSWER-entire cash
surrender value is taxable
only the interest gained is taxable
Which of these are NOT an example of a nonforfeiture option?
-extended term
-reduced paid-up
-cash surrender
-life income - CORRECT ANSWER-Life income
The USA Patriot Act was enacted in: - CORRECT ANSWER-2001
it was enacted to detect and deter terrorism
,An individual Disability Income insurance applicant may be required to submit all of the following
information EXCEPT
-medical history
-gross income
-occupation
-spouse's occupation - CORRECT ANSWER-Spouse's occupation
P is a forty year old woman and would like to purchase an annuity that will provide a lifetime income
stream beginning at age sixty. Which of the following did she NOT buy?
-A straight life deferred annuity
-A straight life annuity
-An immediate annuity
-A deferred annuity - CORRECT ANSWER-An immediate annuity
An immediate annuity is designed to make its first benefit payment to the annuitant at one payment
interval from the date of purchase
Which of the following employees may NOT be excluded from a group life plan?
-part-time employees
-seasonal workers
-full-time employees before the probationary period
-full-time employees after the probationary period - CORRECT ANSWER-full-time employees after
the probationary period
Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing
additional amounts of coverage at predetermined times without requiring to provide evidence of
insurability. What kind of rider is this? - CORRECT ANSWER-Guaranteed insurability rider
What are adjustable rates for life policy loans in Florida based on? - CORRECT ANSWER-Moody's
corporate bond index
B is a teacher who was injured in a car accident and cannot work. She is now receiving monthly
benefits as a result of this accident. Which type of policy does B have? - CORRECT ANSWER-
Disability income
, F needs life insurance that provides coverage for only a limited amount of time with a death benefit
that changes regularly according to a schedule. What kind of policy is needed? - CORRECT
ANSWER-Decreasing term policy ..
A life insurance policy written for a specified period of time with a death benefit that changes
regularly according to schedule is a decreasing term policy
Which of the following statements about Health Reimbursement Arrangements (HRA) is CORRECT?
-if the employee had a qualified medical leave from work, lost wages can be reimbursed
-if the employee paid for qualified medical expenses, the reimbursements may be tax-free
-any unused amounts are added to employee's gross income
-health insurance premiums can be reimbursed to the employee - CORRECT ANSWER-if the
employee paid for qualified medical expenses, the reimbursements may be tax-free
A characteristic of Preferred Provider Organizations (PPO's) would be:
-discounted fees for the patient
-not allowed to see out-of-network physicians
-Physicians are paid on a capitation basis
-A primary care physician is required - CORRECT ANSWER-discounted fees for the patient
patient fees are discounted in return for using listed providers
Medicare Part A and Part B do NOT pay for:
-dental work
-hospitalization
-skilled nursing care
-physical therapy - CORRECT ANSWER-Dental work
What types of employee welfare plans are not subject to ERISA regulations?
-church plans
-major medical plans
-corporate
-qualified plans - CORRECT ANSWER-Church plans are exempt from ERISA regulations
