XCELL TESTING SOLUTIONS (LIFE & HEALTH)
FINAL 150 QUESTION PRACTICE EXAM 2025/2026
LATEST UPDATE AND ANSWERS REAL EXAM
When y can y a y policy y owner y change y a y revocable y beneficiary? y - y correct y answer-Anytime
M ypurchased yan yAccidental yDeath yand yDismemberment y(AD&D) ypolicy yand ynamed yhis yson yas
ybenefici yary. yM yhas ythe yright yto ychange ythe ybeneficiary ydesignation yat yanytime. yWhat ytype
yof ybeneficiary yis yhis ys yon? y- ycorrect yanswer-Revocable
How ywould ya ycontingent ybeneficiary yreceive ythe ypolicy yproceeds yin yan yAccidental yDeath yand
yDismemb yerment y(AD&D) ypolicy? y- ycorrect yanswer-If ythe yprimary ybeneficiary ydies ybefore
ythe yinsured
What yis ythe yunderlying yconcept yregarding ylevel ypremiums? y- ycorrect
yanswer- yThe yearly yyears yare ycharged yless ythan ywhat yis yneeded
A ypolicy yowner yis yable yto ychoose ythe yfrequency yof ypremium ypayments ythrough ywhat ypolicy
yfeature? y- y correct yanswer-Premium yMode
Any ychanges ymade yon yan yinsurance yapplication yrequires ythe yinitials yof ywhom? y- ycorrect
yanswer- yApplicant
All yof ythese yare yconsidered ysources yof yunderwriting yinformation yabout yan yapplicant
yEXCEPT y- ycorrect yanswer-Rating yServices
Q yapplied yfor ylife yinsurance yand ysubmitted ythe yinitial ypremium yon yJanuary y1. yThe ypolicy ywas
yissued yFe ybruary y1, ybut yit ywas ynot ydelivered yby ythe yagent yuntil yFebruary y7. yQ yis
ydissatisfied yand yreturns ythe ypolicy yFebruary y13. yHow ywill ythe yinsurer yhandle ythis ysituation? y-
ycorrect yanswer-
Policy y was y returned y within y the y free-look y period, y premium y will y be y fully y refunded
,M ycompletes yan yapplication yfor ylife yinsurance ybut ydoes ynot ypay ythe yinitial ypremium. yAll yof
ythese yactions y must y occur y before yM's ypolicy y goes yinto yeffect y EXCEPT y- ycorrect y answer-
free-look yperiod yhas yexpired
What yaction yshould ya yproducer ytake yif ythe yinitial ypremium yis yNOT ysubmitted ywith ythe
yapplication? y- y correct yanswer-Forward ythe yapplication yto ythe yinsurer ywithout ythe yinitial
ypremium
, Which yof ythe yfollowing yis yan yimportant yunderwriting yprinciple yof ygroup ylife
yinsurance? y- ycorrect yanswer-Everyone ymust ybe ycovered yin ythe ygroup
Which yrequirement ymust ybe ymet yfor yan yassociation yto ybe yeligible yfor ya ygroup
ylife yplan? y- y correct yanswer-Group ywas yformed yfor ya ypurpose yother ythan
yacquiring yinsurance
When yan yemployee yis yterminated, ywhich ystatement yabout ya ygroup yterm ylife yconversion
yis ytrue? y- y correct yanswer-Policy yproceeds y will y be ypaid yif ythe yemployee y dies yduring
ythe yconversion yperiod
Under ya ytrustee ygroup ylife ypolicy, ywho ywould ybe yeligible yfor ya ycertificate yof ycoverage? y-
ycorrect yanswer- y Corporation
N, yage y50, yrecently ybought yan yannuity ythat ywill ypay ya yguaranteed y$2,000/month yat yage y70
yfor ylife. yWhat y type yof yannuity ydid yN ypurchase? y- ycorrect yanswer-Fixed yDeferred
S yrecently yreceived ya y$500,000 ylump ysum y retirement ybuyout yfrom y her yemployer. yShe ywould
ylike yto ybuy y an yannuity ythat ywill yimmediately yfurnish yher ywith ya yguaranteed yincome yfor
ylife. yWhat ytype yof yannuity yis ybest ysuited yfor yher ysituation? y- ycorrect yanswer-Single yPremium
Which y of y these y is y an y element y of y a y Single y Premium y annuity? y - y correct y answer-Lump-sum
y payment
Which yof ythese ystatements yconcerning yan yIndividual yStraight yLife yannuity yis yaccurate? y-
ycorrect yanswer- yPayments yare ymade yto yan yannuitant yfor ylife
An yindividual ywho ypurchases ya yLife yannuity yis ygiven yprotection yagainst y-
ycorrect yanswer- ythe yrisk yof yliving ylonger ythan yexpected
An y immediate y annuity y consists y of y a y - y correct y answer-single y premium
All yof ythese yare yconsidered yto ybe ya ybenefit yunder ySocial ySecurity yEXCEPT yfor y- ycorrect
yanswer- y unemployment
FINAL 150 QUESTION PRACTICE EXAM 2025/2026
LATEST UPDATE AND ANSWERS REAL EXAM
When y can y a y policy y owner y change y a y revocable y beneficiary? y - y correct y answer-Anytime
M ypurchased yan yAccidental yDeath yand yDismemberment y(AD&D) ypolicy yand ynamed yhis yson yas
ybenefici yary. yM yhas ythe yright yto ychange ythe ybeneficiary ydesignation yat yanytime. yWhat ytype
yof ybeneficiary yis yhis ys yon? y- ycorrect yanswer-Revocable
How ywould ya ycontingent ybeneficiary yreceive ythe ypolicy yproceeds yin yan yAccidental yDeath yand
yDismemb yerment y(AD&D) ypolicy? y- ycorrect yanswer-If ythe yprimary ybeneficiary ydies ybefore
ythe yinsured
What yis ythe yunderlying yconcept yregarding ylevel ypremiums? y- ycorrect
yanswer- yThe yearly yyears yare ycharged yless ythan ywhat yis yneeded
A ypolicy yowner yis yable yto ychoose ythe yfrequency yof ypremium ypayments ythrough ywhat ypolicy
yfeature? y- y correct yanswer-Premium yMode
Any ychanges ymade yon yan yinsurance yapplication yrequires ythe yinitials yof ywhom? y- ycorrect
yanswer- yApplicant
All yof ythese yare yconsidered ysources yof yunderwriting yinformation yabout yan yapplicant
yEXCEPT y- ycorrect yanswer-Rating yServices
Q yapplied yfor ylife yinsurance yand ysubmitted ythe yinitial ypremium yon yJanuary y1. yThe ypolicy ywas
yissued yFe ybruary y1, ybut yit ywas ynot ydelivered yby ythe yagent yuntil yFebruary y7. yQ yis
ydissatisfied yand yreturns ythe ypolicy yFebruary y13. yHow ywill ythe yinsurer yhandle ythis ysituation? y-
ycorrect yanswer-
Policy y was y returned y within y the y free-look y period, y premium y will y be y fully y refunded
,M ycompletes yan yapplication yfor ylife yinsurance ybut ydoes ynot ypay ythe yinitial ypremium. yAll yof
ythese yactions y must y occur y before yM's ypolicy y goes yinto yeffect y EXCEPT y- ycorrect y answer-
free-look yperiod yhas yexpired
What yaction yshould ya yproducer ytake yif ythe yinitial ypremium yis yNOT ysubmitted ywith ythe
yapplication? y- y correct yanswer-Forward ythe yapplication yto ythe yinsurer ywithout ythe yinitial
ypremium
, Which yof ythe yfollowing yis yan yimportant yunderwriting yprinciple yof ygroup ylife
yinsurance? y- ycorrect yanswer-Everyone ymust ybe ycovered yin ythe ygroup
Which yrequirement ymust ybe ymet yfor yan yassociation yto ybe yeligible yfor ya ygroup
ylife yplan? y- y correct yanswer-Group ywas yformed yfor ya ypurpose yother ythan
yacquiring yinsurance
When yan yemployee yis yterminated, ywhich ystatement yabout ya ygroup yterm ylife yconversion
yis ytrue? y- y correct yanswer-Policy yproceeds y will y be ypaid yif ythe yemployee y dies yduring
ythe yconversion yperiod
Under ya ytrustee ygroup ylife ypolicy, ywho ywould ybe yeligible yfor ya ycertificate yof ycoverage? y-
ycorrect yanswer- y Corporation
N, yage y50, yrecently ybought yan yannuity ythat ywill ypay ya yguaranteed y$2,000/month yat yage y70
yfor ylife. yWhat y type yof yannuity ydid yN ypurchase? y- ycorrect yanswer-Fixed yDeferred
S yrecently yreceived ya y$500,000 ylump ysum y retirement ybuyout yfrom y her yemployer. yShe ywould
ylike yto ybuy y an yannuity ythat ywill yimmediately yfurnish yher ywith ya yguaranteed yincome yfor
ylife. yWhat ytype yof yannuity yis ybest ysuited yfor yher ysituation? y- ycorrect yanswer-Single yPremium
Which y of y these y is y an y element y of y a y Single y Premium y annuity? y - y correct y answer-Lump-sum
y payment
Which yof ythese ystatements yconcerning yan yIndividual yStraight yLife yannuity yis yaccurate? y-
ycorrect yanswer- yPayments yare ymade yto yan yannuitant yfor ylife
An yindividual ywho ypurchases ya yLife yannuity yis ygiven yprotection yagainst y-
ycorrect yanswer- ythe yrisk yof yliving ylonger ythan yexpected
An y immediate y annuity y consists y of y a y - y correct y answer-single y premium
All yof ythese yare yconsidered yto ybe ya ybenefit yunder ySocial ySecurity yEXCEPT yfor y- ycorrect
yanswer- y unemployment
