XCEL STATE EXAM SIMULATOR 2026
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
◉ Dividends paid from a life insurance policy are Answer: issued by
the insurer
◉ Which of the following does Social Security NOT provide benefits
for? Answer: dismemberment
◉ In regards to representations or warranties, which of these
statements is TRUE? Answer: If material to the risk, false
representations will void a policy
◉ Asset protection can be provided by a long-term care partnership
policy if the policyholder qualifies for Answer: Medicaid
◉ An agent may provide a prospective client with an advertising gift
as long as the value of that gift does not exceed Answer: $100
,◉ According to Florida law, group life insurance conversion
privileges must NOT Answer: require evidence of insurability
◉ All individuals covered under a group contract will receive a(n)
Answer: certificate
◉ S wants to open a tax-exempt Health Savings Account. To qualify
for this type of account, Federal law dictates that S must be enrolled
in a Answer: high-deductible health plan
◉ Why is an applicant's signature required on a life insurance
application? Answer: to attest that the statements on the application
are accurate to the best of the applicant's knowledge
◉ Which of the following Life insurance policies combine term
insurance with an investment element? Answer: Universal Life
◉ A policyowner would like to change the beneficiary on a Life
insurance policy and make the change permanent. Which type of
designation would fulfill this need? Answer: irrevocable
◉ Medicare Part A and Part B do NOT pay for Answer: dental work
,◉ An example of sliding would be Answer: charging for an
additional product without the applicant's consent
◉ Additional coverage can be added to a Whole Life policy by adding
a(n) Answer: decreasing term rider
◉ When an insurance application is taken by a producer, which of
these statements is true? Answer: any changes made on the
application require the applicant's initials
◉ The advantage of reinstating an original life policy is Answer: the
premiums re based on a younger age
◉ All of the following are considered to be typical characteristics
describing the nature of an insurance contract, EXCEPT Answer:
Bilateral
◉ a life insurance policy which ensures that the premium will be
paid if the insured becomes disabled has what kind of rider attached
Answer: Waiver of premium
◉ According to Florida's life insurance replacement laws, a
policyowner must be provided with a written Comparison and
Summary Statement when it's requested by Answer: the
policyowner
, ◉ What percentage of eligible persons must a policy cover in a
noncontributory group? Answer: 100%
◉ An insurance company receives E's application for an individual
health policy. E did not complete all of the medical history questions
because she could not remember the exact dates. E signed the policy
and submitted it to the insurance company anyway. A few weeks
later, E suffers a heart attack and is hospitalized without completing
the medical history questions and paying the initial premium. E is
not insured. Which of the following clauses details the conditions
that E did not meet? Answer: consideration clause
◉ Which of the following services is NOT included under
hospitalization expense coverage? Answer: surgical fees
◉ P received Disability income benefits for 3 months then returns to
work. She is able to work one month before her condition returns,
leaving her disabled once again. What would the insurance company
most likely regard this second period of disability as? Answer: a
recurrent disability
◉ Term insurance has which of the following characteristics?
Answer: expires at the end of the policy period
QUESTIONS WITH CORRECT ANSWERS
GRADED A+
◉ Dividends paid from a life insurance policy are Answer: issued by
the insurer
◉ Which of the following does Social Security NOT provide benefits
for? Answer: dismemberment
◉ In regards to representations or warranties, which of these
statements is TRUE? Answer: If material to the risk, false
representations will void a policy
◉ Asset protection can be provided by a long-term care partnership
policy if the policyholder qualifies for Answer: Medicaid
◉ An agent may provide a prospective client with an advertising gift
as long as the value of that gift does not exceed Answer: $100
,◉ According to Florida law, group life insurance conversion
privileges must NOT Answer: require evidence of insurability
◉ All individuals covered under a group contract will receive a(n)
Answer: certificate
◉ S wants to open a tax-exempt Health Savings Account. To qualify
for this type of account, Federal law dictates that S must be enrolled
in a Answer: high-deductible health plan
◉ Why is an applicant's signature required on a life insurance
application? Answer: to attest that the statements on the application
are accurate to the best of the applicant's knowledge
◉ Which of the following Life insurance policies combine term
insurance with an investment element? Answer: Universal Life
◉ A policyowner would like to change the beneficiary on a Life
insurance policy and make the change permanent. Which type of
designation would fulfill this need? Answer: irrevocable
◉ Medicare Part A and Part B do NOT pay for Answer: dental work
,◉ An example of sliding would be Answer: charging for an
additional product without the applicant's consent
◉ Additional coverage can be added to a Whole Life policy by adding
a(n) Answer: decreasing term rider
◉ When an insurance application is taken by a producer, which of
these statements is true? Answer: any changes made on the
application require the applicant's initials
◉ The advantage of reinstating an original life policy is Answer: the
premiums re based on a younger age
◉ All of the following are considered to be typical characteristics
describing the nature of an insurance contract, EXCEPT Answer:
Bilateral
◉ a life insurance policy which ensures that the premium will be
paid if the insured becomes disabled has what kind of rider attached
Answer: Waiver of premium
◉ According to Florida's life insurance replacement laws, a
policyowner must be provided with a written Comparison and
Summary Statement when it's requested by Answer: the
policyowner
, ◉ What percentage of eligible persons must a policy cover in a
noncontributory group? Answer: 100%
◉ An insurance company receives E's application for an individual
health policy. E did not complete all of the medical history questions
because she could not remember the exact dates. E signed the policy
and submitted it to the insurance company anyway. A few weeks
later, E suffers a heart attack and is hospitalized without completing
the medical history questions and paying the initial premium. E is
not insured. Which of the following clauses details the conditions
that E did not meet? Answer: consideration clause
◉ Which of the following services is NOT included under
hospitalization expense coverage? Answer: surgical fees
◉ P received Disability income benefits for 3 months then returns to
work. She is able to work one month before her condition returns,
leaving her disabled once again. What would the insurance company
most likely regard this second period of disability as? Answer: a
recurrent disability
◉ Term insurance has which of the following characteristics?
Answer: expires at the end of the policy period
