XCEL Final Version 1 Newest 2025 Actual Questions
And Correct Detailed Answers (verified
Answers)||Already Graded A+||Brand New Version!!
a producer's fiduciary responsibility includes which of the following activities? :- answers -
:recording the receipt and distribution of premiums due to an insurer
an agent show use reasonable accounting methods to record funds received in his or her
fiduciary capacity including the receipt and distribution of all premiums do each of his or her
insurers.
all of the following occurrences may result in license revocation EXCEPT :- answers - :producing
in an adequate amount of new premium
CORRECT: having been convicted of a felony, forging another's name to an application for
insurance, failing to meet court-ordered child support obligations
a proposed insured for a health insurance policy was treated for heart disease within the past
year. When applying for health insurance, the heart disease treatment :- answers - :indicates a
pre-existing condition
for what purpose is a life insurance application backdated? :- answers - :to reduce the premium
what is the name of the provision which states that a copy of the application must be attached
to the policy when issued? :- answers - :entire contract
,a renewable term life insurance policy can be renewed :- answers - :at a predetermined date or
age, regardless of the insurance health
Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. She would
like to borrow $15,000 against the cash value. Which of the following statements is TRUE? :-
answers - :net death benefit will be reduced if the loan is not repaid
a life insurance policy normally contains a provision that restricts coverage in the event of death
under all of the following situations EXCEPT :- answers - :fare-paying passenger
CORRECT: pilot of personal airplane, suicide, War
the above may not be covered or have restrictions.
which of the following signatures is not required on an individual insurance application? :-
answers - :insurer
Which of the following decisions would a Health Savings Account (HSA) owner NOT to be able to
make? :- answers - :the amount contributed by the employer
CORRECT: the amount contributed by the owner, the underlying account Investments used, the
medical expenses paid for by the HSA
an individual with a Health Savings a
Account (HAS) can make all of these decisions except how much the employer will contribute.
,which of the following is NOT included under health benefit plan? :- answers - :Hospital
Indemnity plan
INCLUDED: major medical policy, basic Hospital policy, surgical expense policy
A Modified Endowment Contract (MEC) is best described as :- answers - :a life insurance
contract which accumulates cash value is higher than the IRS will allow
a guaranteed issue life insurance policy has no :- answers - :medical underwriting
which type of business insurance is meant to cover the cost of continuing to do business while
the owner is disabled? :- answers - :business overhead expense policy
which of the following is an annuity that is linked to a market-related index? :- answers - :equity-
indexed annuity
producer commissions may NOT be paid to :- answers - :licensed producers not appointed by an
insurer
CORRECT: licensed and appointed producers, licensed and appointed producers who are sharing
commissions, non-resident producers
Elizabeth is the beneficiary of a life insurance policy. She's receiving the death benefit and
payments of $10,000 per month until the principal and interest has been paid out. Which
option was chosen? :- answers - :fixed amount
which of the following is an example of the insured's consideration? :- answers - :a paid
premium
, in the state of Michigan, a licensed producer :- answers - :represents the insurer
which of these would NOT considered a presumptive disability? :- answers - :loss of a leg or arm
CORRECT: loss of vision and speech, loss of hearing, loss of leg and arm
in Michigan, a small employer is comprised of :- answers - :2 to 50 employees
which of the following would be considered a possible application and contract policy holder for
group health benefits? :- answers - :employer
an employer would be a possible application and contract policyholder of a single Master
contract or Master policy for group health benefits.
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing
home options would best serve him? :- answers - :Assisted Living
Tim has a health insurance with a deductible of $500 and an 80/20 coinsurance. How much will
she pay if she incurs a loss of $1,500? :- answers - :$700
in this situation, the insured will pay $500 deductible plus $200 coinsurance = $700.
$1500-$500=$1000
$1000×20%=$200
$500+$200=$700
And Correct Detailed Answers (verified
Answers)||Already Graded A+||Brand New Version!!
a producer's fiduciary responsibility includes which of the following activities? :- answers -
:recording the receipt and distribution of premiums due to an insurer
an agent show use reasonable accounting methods to record funds received in his or her
fiduciary capacity including the receipt and distribution of all premiums do each of his or her
insurers.
all of the following occurrences may result in license revocation EXCEPT :- answers - :producing
in an adequate amount of new premium
CORRECT: having been convicted of a felony, forging another's name to an application for
insurance, failing to meet court-ordered child support obligations
a proposed insured for a health insurance policy was treated for heart disease within the past
year. When applying for health insurance, the heart disease treatment :- answers - :indicates a
pre-existing condition
for what purpose is a life insurance application backdated? :- answers - :to reduce the premium
what is the name of the provision which states that a copy of the application must be attached
to the policy when issued? :- answers - :entire contract
,a renewable term life insurance policy can be renewed :- answers - :at a predetermined date or
age, regardless of the insurance health
Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. She would
like to borrow $15,000 against the cash value. Which of the following statements is TRUE? :-
answers - :net death benefit will be reduced if the loan is not repaid
a life insurance policy normally contains a provision that restricts coverage in the event of death
under all of the following situations EXCEPT :- answers - :fare-paying passenger
CORRECT: pilot of personal airplane, suicide, War
the above may not be covered or have restrictions.
which of the following signatures is not required on an individual insurance application? :-
answers - :insurer
Which of the following decisions would a Health Savings Account (HSA) owner NOT to be able to
make? :- answers - :the amount contributed by the employer
CORRECT: the amount contributed by the owner, the underlying account Investments used, the
medical expenses paid for by the HSA
an individual with a Health Savings a
Account (HAS) can make all of these decisions except how much the employer will contribute.
,which of the following is NOT included under health benefit plan? :- answers - :Hospital
Indemnity plan
INCLUDED: major medical policy, basic Hospital policy, surgical expense policy
A Modified Endowment Contract (MEC) is best described as :- answers - :a life insurance
contract which accumulates cash value is higher than the IRS will allow
a guaranteed issue life insurance policy has no :- answers - :medical underwriting
which type of business insurance is meant to cover the cost of continuing to do business while
the owner is disabled? :- answers - :business overhead expense policy
which of the following is an annuity that is linked to a market-related index? :- answers - :equity-
indexed annuity
producer commissions may NOT be paid to :- answers - :licensed producers not appointed by an
insurer
CORRECT: licensed and appointed producers, licensed and appointed producers who are sharing
commissions, non-resident producers
Elizabeth is the beneficiary of a life insurance policy. She's receiving the death benefit and
payments of $10,000 per month until the principal and interest has been paid out. Which
option was chosen? :- answers - :fixed amount
which of the following is an example of the insured's consideration? :- answers - :a paid
premium
, in the state of Michigan, a licensed producer :- answers - :represents the insurer
which of these would NOT considered a presumptive disability? :- answers - :loss of a leg or arm
CORRECT: loss of vision and speech, loss of hearing, loss of leg and arm
in Michigan, a small employer is comprised of :- answers - :2 to 50 employees
which of the following would be considered a possible application and contract policy holder for
group health benefits? :- answers - :employer
an employer would be a possible application and contract policyholder of a single Master
contract or Master policy for group health benefits.
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing
home options would best serve him? :- answers - :Assisted Living
Tim has a health insurance with a deductible of $500 and an 80/20 coinsurance. How much will
she pay if she incurs a loss of $1,500? :- answers - :$700
in this situation, the insured will pay $500 deductible plus $200 coinsurance = $700.
$1500-$500=$1000
$1000×20%=$200
$500+$200=$700
