1|Page
XCEL Florida Life And Health Exam Simulator||
Questions And Correct Detailed Answers (verified
Answers)||Already Graded A+||Newest Exam!!!!
What action will ensurer take if an interest payment on a
policy loan is not made on time? - ANSWER-Automatically
add the amount of interest due to the loan balance
What type of life insurance are credit policies issued as? -
ANSWER-Term
T, age 70, withdraws cash from a profit-sharing plan and
purchases a straight life annuity. What will this transaction
provide? - ANSWER-Income that cannot be Outlived by
the owner
Which of the following services it's not covered under a
hospitalization expenses policy? - ANSWER-Surgeons
fees
Which provision is not a requirement in a group life policy?
- ANSWER-Accidental
,2|Page
An insured must notify an insurer of a medical claim within
how many days after an accident? - ANSWER-20
A term life insurance policy matures? - ANSWER-Up the
insured's death during the term of the policy
In life insurance, the needs approach is used mostly to
establish? - ANSWER-How much life insurance a client
should apply for
Agent J takes an application and initial premium from an
applicant and sends the application in premium check to
the insurance company. The insurance company returns
the check back to J because the check is made out to J
instead of the insurance company. What action should J
take? - ANSWER-Return to the customer, collect a new
check made out to the insurance company, and send the
new check out to the insurance company
In Florida, most life insurance policies have a
contestability period of - ANSWER-2 years
When an insurer issues a policy that refuses to cover
certain risk, this is referred to as ? - ANSWER-Exclusion
,3|Page
J is an agent who has indused an insured through
Missrepresentation to surrender an existing insurance
policy. What is J guilty of? - ANSWER-Twisting
Which of the following correctly explains the action an
agents should take if a customer wants to apply for an
insurance policy? - ANSWER-Complete the application
and review the information with the customer Prior to
obtain the customer signature, then send the application
off to the insurance company.
Which of the following is considered to be
misrepresentation? - ANSWER-An agent guaranteeing a
policy's dividends.
T and S are name co-primary beneficiaries on a $500,000
accidental death and dismemberment policy insuring their
father. Their mother was named contingent beneficiary.
Five years later, S dies of natural causes and the father is
killed in scuba accident shortly afterwords. How much of
the death benefits will the mother receive? - ANSWER-$0
Which of the following provisions specified how long a
policyowner's health coverage will remain in effect if the
policyowner does not pay the premium when it is due? -
ANSWER-Grace Period
, 4|Page
A potential client age 40 would like to purchase a whole
life policy that will accumulate cash value at faster rate in
the early years of the policy. Which of these Statemants
made by the producer would be correct? - ANSWER-20-
Pay Life accumulates cash value faster than Straight Life
According to Florida law, in which of the following
situations would a dependent handicapped child NOT be
covered under family health policy? - ANSWER-The
premiums for the handicapped child are not paid
How long does the coverage normally remain on limited-
pay life policy? - ANSWER-Age 100
Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?
- ANSWER-Inspection report
How does group insurance differ from individual
insurance? - ANSWER-Premiums are lower
When policy owner cash surrender a universal life
insurance policy in its early years, this may be considerate
a red flag for an? - ANSWER-Anti-Money Laundering
violation
XCEL Florida Life And Health Exam Simulator||
Questions And Correct Detailed Answers (verified
Answers)||Already Graded A+||Newest Exam!!!!
What action will ensurer take if an interest payment on a
policy loan is not made on time? - ANSWER-Automatically
add the amount of interest due to the loan balance
What type of life insurance are credit policies issued as? -
ANSWER-Term
T, age 70, withdraws cash from a profit-sharing plan and
purchases a straight life annuity. What will this transaction
provide? - ANSWER-Income that cannot be Outlived by
the owner
Which of the following services it's not covered under a
hospitalization expenses policy? - ANSWER-Surgeons
fees
Which provision is not a requirement in a group life policy?
- ANSWER-Accidental
,2|Page
An insured must notify an insurer of a medical claim within
how many days after an accident? - ANSWER-20
A term life insurance policy matures? - ANSWER-Up the
insured's death during the term of the policy
In life insurance, the needs approach is used mostly to
establish? - ANSWER-How much life insurance a client
should apply for
Agent J takes an application and initial premium from an
applicant and sends the application in premium check to
the insurance company. The insurance company returns
the check back to J because the check is made out to J
instead of the insurance company. What action should J
take? - ANSWER-Return to the customer, collect a new
check made out to the insurance company, and send the
new check out to the insurance company
In Florida, most life insurance policies have a
contestability period of - ANSWER-2 years
When an insurer issues a policy that refuses to cover
certain risk, this is referred to as ? - ANSWER-Exclusion
,3|Page
J is an agent who has indused an insured through
Missrepresentation to surrender an existing insurance
policy. What is J guilty of? - ANSWER-Twisting
Which of the following correctly explains the action an
agents should take if a customer wants to apply for an
insurance policy? - ANSWER-Complete the application
and review the information with the customer Prior to
obtain the customer signature, then send the application
off to the insurance company.
Which of the following is considered to be
misrepresentation? - ANSWER-An agent guaranteeing a
policy's dividends.
T and S are name co-primary beneficiaries on a $500,000
accidental death and dismemberment policy insuring their
father. Their mother was named contingent beneficiary.
Five years later, S dies of natural causes and the father is
killed in scuba accident shortly afterwords. How much of
the death benefits will the mother receive? - ANSWER-$0
Which of the following provisions specified how long a
policyowner's health coverage will remain in effect if the
policyowner does not pay the premium when it is due? -
ANSWER-Grace Period
, 4|Page
A potential client age 40 would like to purchase a whole
life policy that will accumulate cash value at faster rate in
the early years of the policy. Which of these Statemants
made by the producer would be correct? - ANSWER-20-
Pay Life accumulates cash value faster than Straight Life
According to Florida law, in which of the following
situations would a dependent handicapped child NOT be
covered under family health policy? - ANSWER-The
premiums for the handicapped child are not paid
How long does the coverage normally remain on limited-
pay life policy? - ANSWER-Age 100
Information obtained from a phone conversation to the
proposed insured can be found in which of these reports?
- ANSWER-Inspection report
How does group insurance differ from individual
insurance? - ANSWER-Premiums are lower
When policy owner cash surrender a universal life
insurance policy in its early years, this may be considerate
a red flag for an? - ANSWER-Anti-Money Laundering
violation
