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XCEL LIFE AND HEALTH INSURANCE FINAL EXAM
2025/ 2026 NEWEST ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED
A+||LATEST EXAM!!!
When is the face amount of a Whole Life policy paid? -
Answer-When the insured dies or at the policy's maturity
date, whichever happens first
An IRA owner can start making withdrawals and NOT be
subjected to a tax penalty beginning at what age? -
Answer-59 1/2
In an insurance contract, the insurer is the only party who
makes a legally enforceable promise. What kind of
contract is this? - Answer-Unilateral
Colorado's replacement rules apply to all of the following
types of insurance EXCEPT - Answer-Single premium
whole life
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What type of life policy covers two people and pays upon
the death of the last insured? - Answer-Survivorship
C is a key employee at ABC Incorporated. If a Key
Employee life policy is purchased on her life, which of
these statements would be true? - Answer-ABC is the
policy owner, C is the insured, and ABC is the beneficiary
A policyowner is able to choose the frequency of premium
payments through what policy feature? - Answer-Premium
Mode
Which of the following are Equity Indexed annuities
typically invested in? - Answer-S&P 500
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? -
Answer-30
When does a Guaranteed Insurability Rider allow the
insured to buy additional coverage? - Answer-At future
dates specified in the contract with no evidence of
insurability required
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Which of these types of policies may NOT have the
Automatic Premium Loan provision attached to it? -
Answer-Decreasing Term
When recommending the purchase or exchange of an
annuity, a producer must determine the suitability of the
purchase by performing all of the following EXCEPT -
Answer-Determining the marital status of the applicant
A producer license may be suspended or revoked if the
producer is found to be engaging in - Answer-
Misrepresentation
Which of these is an element of a Single Premium
annuity? - Answer-Lump-sum payment
The commissioner may issue an emergency cease and
desist order without a hearing for all of the following
circumstances EXCEPT - Answer-Writing controlled
business
XCEL LIFE AND HEALTH INSURANCE FINAL EXAM
2025/ 2026 NEWEST ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED
A+||LATEST EXAM!!!
When is the face amount of a Whole Life policy paid? -
Answer-When the insured dies or at the policy's maturity
date, whichever happens first
An IRA owner can start making withdrawals and NOT be
subjected to a tax penalty beginning at what age? -
Answer-59 1/2
In an insurance contract, the insurer is the only party who
makes a legally enforceable promise. What kind of
contract is this? - Answer-Unilateral
Colorado's replacement rules apply to all of the following
types of insurance EXCEPT - Answer-Single premium
whole life
,2|Page
What type of life policy covers two people and pays upon
the death of the last insured? - Answer-Survivorship
C is a key employee at ABC Incorporated. If a Key
Employee life policy is purchased on her life, which of
these statements would be true? - Answer-ABC is the
policy owner, C is the insured, and ABC is the beneficiary
A policyowner is able to choose the frequency of premium
payments through what policy feature? - Answer-Premium
Mode
Which of the following are Equity Indexed annuities
typically invested in? - Answer-S&P 500
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? -
Answer-30
When does a Guaranteed Insurability Rider allow the
insured to buy additional coverage? - Answer-At future
dates specified in the contract with no evidence of
insurability required
, 3|Page
Which of these types of policies may NOT have the
Automatic Premium Loan provision attached to it? -
Answer-Decreasing Term
When recommending the purchase or exchange of an
annuity, a producer must determine the suitability of the
purchase by performing all of the following EXCEPT -
Answer-Determining the marital status of the applicant
A producer license may be suspended or revoked if the
producer is found to be engaging in - Answer-
Misrepresentation
Which of these is an element of a Single Premium
annuity? - Answer-Lump-sum payment
The commissioner may issue an emergency cease and
desist order without a hearing for all of the following
circumstances EXCEPT - Answer-Writing controlled
business
