1|Page
XCEL Final Version 1 Newest 2026/2027 Actual
Questions And Correct Detailed Answers (verified
Answers)||Already Graded A+||Newest Exam!!!
P is looking to purchase a life insurance policy that will pay
a stated monthly income to his beneficiaries for 20 years
after he dies and a lump sum of $20,000 at the end of that
20 year period. What type of policy should P purchase? -
ANSWER-A family maintenance policy
Which of the following is an example of a
misrepresentation? - ANSWER-describing a universal life
policy as a security
Which of the following documents are NOT required to
mention the Colorado Fraud Statute? - ANSWER-
Certificates
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? -
ANSWER-30
To be licensed to sell life, accident, and health insurance
in Colorado, an applicant must complete - ANSWER-100
hour pre licensing education
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When is it appropriate for a producer's spouse to be the
primary beneficiary on an applicant's life insurance policy?
- ANSWER-When insurable interest exists
Which situation allows the producer to also be the
beneficiary on a client's application for life insurance? -
ANSWER-When insurable interest exists
A group life insurance policy holder must be given a grace
period for premium payment of how many days. -
ANSWER-31
An applicant for a resident insurance producer's license
MUST meet which of the following requirements? -
ANSWER-Complete a pre licensing examination
A producer in Colorado must complete a minimum of ow
many hours of continuing education every 2 years? -
ANSWER-24
A producer may legally share commissions only with -
ANSWER-Another producer who is licensed in the same
line of insurance
, 3|Page
A producer who sells an individual life insurance policy in
Colorado MUST deliver to the policy owner... - ANSWER-A
policy summary and buyer's guide
A temporary license issued to an applicant for an
insurance license is valid for a maximum of how many
days - ANSWER-180 days
All of the following activities may result in the revocation or
suspension of a producer's license EXCEPT - ANSWER-
representing a foreign insurance company
Continuing education is required of individuals licensed to
sell which of the following types of insurance? - ANSWER-
Limited Lines Credit
Continuing education requirements in Colorado apply to
which of the following persons? - ANSWER-Life insurance
Continuing education requirements in Colorado apply to
which of the following persons? - ANSWER-Resident
producers
XCEL Final Version 1 Newest 2026/2027 Actual
Questions And Correct Detailed Answers (verified
Answers)||Already Graded A+||Newest Exam!!!
P is looking to purchase a life insurance policy that will pay
a stated monthly income to his beneficiaries for 20 years
after he dies and a lump sum of $20,000 at the end of that
20 year period. What type of policy should P purchase? -
ANSWER-A family maintenance policy
Which of the following is an example of a
misrepresentation? - ANSWER-describing a universal life
policy as a security
Which of the following documents are NOT required to
mention the Colorado Fraud Statute? - ANSWER-
Certificates
An insurer that terminates a producer's appointment must
inform the Commissioner within how many days? -
ANSWER-30
To be licensed to sell life, accident, and health insurance
in Colorado, an applicant must complete - ANSWER-100
hour pre licensing education
,2|Page
When is it appropriate for a producer's spouse to be the
primary beneficiary on an applicant's life insurance policy?
- ANSWER-When insurable interest exists
Which situation allows the producer to also be the
beneficiary on a client's application for life insurance? -
ANSWER-When insurable interest exists
A group life insurance policy holder must be given a grace
period for premium payment of how many days. -
ANSWER-31
An applicant for a resident insurance producer's license
MUST meet which of the following requirements? -
ANSWER-Complete a pre licensing examination
A producer in Colorado must complete a minimum of ow
many hours of continuing education every 2 years? -
ANSWER-24
A producer may legally share commissions only with -
ANSWER-Another producer who is licensed in the same
line of insurance
, 3|Page
A producer who sells an individual life insurance policy in
Colorado MUST deliver to the policy owner... - ANSWER-A
policy summary and buyer's guide
A temporary license issued to an applicant for an
insurance license is valid for a maximum of how many
days - ANSWER-180 days
All of the following activities may result in the revocation or
suspension of a producer's license EXCEPT - ANSWER-
representing a foreign insurance company
Continuing education is required of individuals licensed to
sell which of the following types of insurance? - ANSWER-
Limited Lines Credit
Continuing education requirements in Colorado apply to
which of the following persons? - ANSWER-Life insurance
Continuing education requirements in Colorado apply to
which of the following persons? - ANSWER-Resident
producers
