XCELL TESTING SOLUTIONS (LIFE &
HEALTH) FINAL 150 QUESTION
PRACTICE EXAM QUESTIONS WITH
COMPLETE SOLUTION 2025/2026
When tcan ta tpolicy towner tchange ta trevocable tbeneficiary? t- tcorrect tanswer-Anytime
M tpurchased tan tAccidental tDeath tand tDismemberment t(AD&D) tpolicy tand tnamed this tson tas
tbeneficiary
. tM thas tthe tright tto tchange tthe tbeneficiary tdesignation tat tanytime. tWhat ttype tof tbeneficiary tis
this tson? t- tcorrect tanswer-Revocable
How twould ta tcontingent tbeneficiary treceive tthe tpolicy tproceeds tin tan tAccidental tDeath tand
tDismember tment t(AD&D) tpolicy? t- tcorrect tanswer-If tthe tprimary tbeneficiary tdies tbefore tthe
tinsured
What tis tthe tunderlying tconcept tregarding tlevel tpremiums? t- tcorrect
tanswer- tThe tearly tyears tare tcharged tless tthan twhat tis tneeded
A tpolicy towner tis table tto tchoose tthe tfrequency tof tpremium tpayments tthrough twhat tpolicy
tfeature? t- tcorrect tanswer-Premium tMode
Any tchanges tmade ton tan tinsurance tapplication trequires tthe tinitials tof twhom? t- tcorrect tanswer-
Applicant
All tof tthese tare tconsidered tsources tof tunderwriting tinformation tabout tan tapplicant
tEXCEPT t- tcorrect tanswer-Rating tServices
Q tapplied tfor tlife tinsurance tand tsubmitted tthe tinitial tpremium ton tJanuary t1. tThe tpolicy twas
tissued tFebru tary t1, tbut tit twas tnot tdelivered tby tthe tagent tuntil tFebruary t7. tQBis tdissatisfied tand
treturns tthe tpolicy tFebr tuary t13. tHow twill tthe tinsurer thandle tthis tsituation? t- tcorrect tanswer-
Policy twas treturned twithin tthe tfree-look tperiod, tpremium twill tbe tfully trefunded
,M tcompletes tan tapplication tfor tlife tinsurance tbut tdoes tnot tpay tthe tinitial tpremium. tAll tof
tthese tactions tmust toccur tbefore tM's tpolicy tgoes tinto teffect tEXCEPT t- tcorrect tanswer-free-
lookBperiod thas texpired
, What taction tshould ta tproducer ttake tif tthe tinitial tpremium tis tNOT tsubmitted twith tthe
tapplication? t- tcorrect tanswer-Forward tthe tapplication tto tthe tinsurer twithout tthe tinitial tpremium
Which tof tthe tfollowing tis tan timportant tunderwriting tprinciple tof tgroup tlife tinsurance? t- tcorrect
tanswer- tEveryone tmust tbe tcovered tin tthe tgroup
Which trequirement tmust tbe tmet tfor tan tassociation tto tbe teligible tfor ta tgroup tlife tplan? t- tcorrect
tanswer- tGroup twas tformed tfor ta tpurpose tother tthan tacquiring tinsurance
When tan temployee tis tterminated, twhich tstatement tabout ta tgroup tterm tlife tconversion tis
ttrue? t- tcorrect tanswer-Policy tproceeds twill tbe tpaid tif tthe temployee tdies tduring tthe
tconversion tperiod
Under ta ttrustee tgroup tlife tpolicy, twho twould tbe teligible tfor ta tcertificate tof tcoverage? t- tcorrect
tanswer- tCorporation
N, tage t50, trecently tbought tan tannuity tthat twill tpay ta tguaranteed t$2,000/month tat tage t70 tfor
tlife. tWhat tt type tof tannuity tdid tN tpurchase? t- tcorrect tanswer-Fixed tDeferred
S trecently treceived ta t$500,000 tlump tsum tretirement tbuyout tfrom ther temployer. tShe twould tlike
tto tbuy ta tn tannuity tthatBwill timmediately tfurnish ther twith ta tguaranteed tincome tfor tlife. tWhat
ttype tof tannuity tis tbe tst tsuited tfor ther tsituation? t- tcorrect tanswer-Single tPremium
Which tof tthese tis tan telement tof ta tSingle tPremium tannuity? t- tcorrect tanswer-Lump-sum tpayment
Which tof tthese tstatements tconcerning tan tIndividual tStraight tLife tannuity tis taccurate? t- tcorrect
tanswer- tPayments tare tmade tto tan tannuitant tfor tlife
An tindividual twho tpurchases ta tLife tannuity tis tgiven tprotection tagainst t- tcorrect
tanswer- tthe trisk tof tliving tlonger tthan texpected
An timmediate tannuity tconsists tof ta t-Bcorrect tanswer-single tpremium
HEALTH) FINAL 150 QUESTION
PRACTICE EXAM QUESTIONS WITH
COMPLETE SOLUTION 2025/2026
When tcan ta tpolicy towner tchange ta trevocable tbeneficiary? t- tcorrect tanswer-Anytime
M tpurchased tan tAccidental tDeath tand tDismemberment t(AD&D) tpolicy tand tnamed this tson tas
tbeneficiary
. tM thas tthe tright tto tchange tthe tbeneficiary tdesignation tat tanytime. tWhat ttype tof tbeneficiary tis
this tson? t- tcorrect tanswer-Revocable
How twould ta tcontingent tbeneficiary treceive tthe tpolicy tproceeds tin tan tAccidental tDeath tand
tDismember tment t(AD&D) tpolicy? t- tcorrect tanswer-If tthe tprimary tbeneficiary tdies tbefore tthe
tinsured
What tis tthe tunderlying tconcept tregarding tlevel tpremiums? t- tcorrect
tanswer- tThe tearly tyears tare tcharged tless tthan twhat tis tneeded
A tpolicy towner tis table tto tchoose tthe tfrequency tof tpremium tpayments tthrough twhat tpolicy
tfeature? t- tcorrect tanswer-Premium tMode
Any tchanges tmade ton tan tinsurance tapplication trequires tthe tinitials tof twhom? t- tcorrect tanswer-
Applicant
All tof tthese tare tconsidered tsources tof tunderwriting tinformation tabout tan tapplicant
tEXCEPT t- tcorrect tanswer-Rating tServices
Q tapplied tfor tlife tinsurance tand tsubmitted tthe tinitial tpremium ton tJanuary t1. tThe tpolicy twas
tissued tFebru tary t1, tbut tit twas tnot tdelivered tby tthe tagent tuntil tFebruary t7. tQBis tdissatisfied tand
treturns tthe tpolicy tFebr tuary t13. tHow twill tthe tinsurer thandle tthis tsituation? t- tcorrect tanswer-
Policy twas treturned twithin tthe tfree-look tperiod, tpremium twill tbe tfully trefunded
,M tcompletes tan tapplication tfor tlife tinsurance tbut tdoes tnot tpay tthe tinitial tpremium. tAll tof
tthese tactions tmust toccur tbefore tM's tpolicy tgoes tinto teffect tEXCEPT t- tcorrect tanswer-free-
lookBperiod thas texpired
, What taction tshould ta tproducer ttake tif tthe tinitial tpremium tis tNOT tsubmitted twith tthe
tapplication? t- tcorrect tanswer-Forward tthe tapplication tto tthe tinsurer twithout tthe tinitial tpremium
Which tof tthe tfollowing tis tan timportant tunderwriting tprinciple tof tgroup tlife tinsurance? t- tcorrect
tanswer- tEveryone tmust tbe tcovered tin tthe tgroup
Which trequirement tmust tbe tmet tfor tan tassociation tto tbe teligible tfor ta tgroup tlife tplan? t- tcorrect
tanswer- tGroup twas tformed tfor ta tpurpose tother tthan tacquiring tinsurance
When tan temployee tis tterminated, twhich tstatement tabout ta tgroup tterm tlife tconversion tis
ttrue? t- tcorrect tanswer-Policy tproceeds twill tbe tpaid tif tthe temployee tdies tduring tthe
tconversion tperiod
Under ta ttrustee tgroup tlife tpolicy, twho twould tbe teligible tfor ta tcertificate tof tcoverage? t- tcorrect
tanswer- tCorporation
N, tage t50, trecently tbought tan tannuity tthat twill tpay ta tguaranteed t$2,000/month tat tage t70 tfor
tlife. tWhat tt type tof tannuity tdid tN tpurchase? t- tcorrect tanswer-Fixed tDeferred
S trecently treceived ta t$500,000 tlump tsum tretirement tbuyout tfrom ther temployer. tShe twould tlike
tto tbuy ta tn tannuity tthatBwill timmediately tfurnish ther twith ta tguaranteed tincome tfor tlife. tWhat
ttype tof tannuity tis tbe tst tsuited tfor ther tsituation? t- tcorrect tanswer-Single tPremium
Which tof tthese tis tan telement tof ta tSingle tPremium tannuity? t- tcorrect tanswer-Lump-sum tpayment
Which tof tthese tstatements tconcerning tan tIndividual tStraight tLife tannuity tis taccurate? t- tcorrect
tanswer- tPayments tare tmade tto tan tannuitant tfor tlife
An tindividual twho tpurchases ta tLife tannuity tis tgiven tprotection tagainst t- tcorrect
tanswer- tthe trisk tof tliving tlonger tthan texpected
An timmediate tannuity tconsists tof ta t-Bcorrect tanswer-single tpremium
