XCEL CHAPTER 4 EXAM 2025
QUESTIONS AND ANSWERS
John and Mary have a handicapped child that is financially dependent upon them. The death of
one of the parents would not be financially disastrous, however the death of both likely would
be. Which policy would be best suited for them? - ANS Second-to-die policy
An insurance policy written after 1988 that fails to pass the seven-pay test is known as -
ANS a modified endowment contract
What is the proper order of initial life insurance premiums, from lowest to highest? -
ANS Modified premium, ordinary life, single premium
In a renewable term life insurance policy, the contract will usually - ANS require a higher
premium payable at each renewal
1 @COPYRIGHT THEBRIGHT 2025/2026
QUESTIONS AND ANSWERS
John and Mary have a handicapped child that is financially dependent upon them. The death of
one of the parents would not be financially disastrous, however the death of both likely would
be. Which policy would be best suited for them? - ANS Second-to-die policy
An insurance policy written after 1988 that fails to pass the seven-pay test is known as -
ANS a modified endowment contract
What is the proper order of initial life insurance premiums, from lowest to highest? -
ANS Modified premium, ordinary life, single premium
In a renewable term life insurance policy, the contract will usually - ANS require a higher
premium payable at each renewal
1 @COPYRIGHT THEBRIGHT 2025/2026
