XCEL SOLUTIONS - FINAL EXAM 2026
WITH COMPLETE SOLUTIONS
When is a Group Health policy required to provide coverage for a newborn child? - correct answer
<<<<<💕💕💕✔✔At the moment of birth
What is the required renewability status of all Medicare supplement policies? - correct answer
<<<<<💕💕💕✔✔Guaranteed renewable
Who issues Medicare Supplement policies? - correct answer <<<<<💕💕💕✔✔insurance
companies
P is the insured on a participating life policy. Which statement is true if P's premiums are waived due to
disability? - correct answer <<<<<💕💕💕✔✔P will still receive declared dividends
What type of policy would offer a 40-year old the quickest accumulation of cash value? - correct answer
<<<<<💕💕💕✔✔20-pay life
The Nevada Insurance Guaranty Association - correct answer <<<<<💕💕💕✔✔protects Nevada
insurance policy owners in the event an insurance company becomes insolvent
The most important factor to consider when determining whether to convert term insurance at the
insured's attained age or to the insured's original age is: - correct answer <<<<<💕💕💕✔✔the
cost
A Medicare Supplement policy may be cancelled for which of the following reasons? - correct answer
<<<<<💕💕💕✔✔The premiums has not been paid by the insured
A noncontributory group term life plan is characterized by: - correct answer <<<<<💕💕💕✔✔The
entire cost of the plan is paid for by the employer
,Variable annuities may invest premiums in each of the following, EXCEPT: - correct answer
<<<<<💕💕💕✔✔Insurer's corporate business account
Which of the following costs would a Basic Hospital/Surgical policy likely cover? - correct answer
<<<<<💕💕💕✔✔Surgically removing a facial birthmark
Information obtained from a phone conversation to the proposed insured can be found in which of
these reports? - correct answer <<<<<💕💕💕✔✔Inspection report
T is receiving $3,000/month from a Disability Income policy in which T's employer has pad the
premiums. How are the $3,000 benefit payments taxable? - correct answer
<<<<<💕💕💕✔✔Benefits are taxable to T.
What kind of insurance policy supplies an income stream over a set period of time that starts when the
insured dies? - correct answer <<<<<💕💕💕✔✔Family Maintenance Policy
Basic Medical Expense insurance: - correct answer <<<<<💕💕💕✔✔has lower benefit limits than
Major Medical Insurance
What is the requirement for maintaining an individual Nevada producer license? - correct answer
<<<<<💕💕💕✔✔completing 30 hours of continuing education every 3 years
J is a producer who has induced an insured through misrepresentation to surrender an existing
insurance policy. What is J guilty of? - correct answer <<<<<💕💕💕✔✔Twisting
Which of these is considered a mandatory provision? - correct answer <<<<<💕💕💕✔✔payment
of claims
Which life insurance rider typically appears on a Juvenile life insurance policy? - correct answer
<<<<<💕💕💕✔✔payor benefit rider
, What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the
required minimum distributions from their qualified retirement plan? - correct answer
<<<<<💕💕💕✔✔50%
An individual has a Major Medical policy with a $5,000 deductible and an 80/20 Coinsurance clause.
How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred?
- correct answer <<<<<💕💕💕✔✔$7,000
Within how many days after policy delivery can a Long-term Care policy be returned for a 100%
premium refund? - correct answer <<<<<💕💕💕✔✔30
Which of the following is an example of defamation? - correct answer <<<<<💕💕💕✔✔circulating
brochures that falsely denounce the financial condition of an insurer
T has a Disability Income policy that pays a monthly benefit of $5,000. If T becomes partially disabled,
what can he likely expect? - correct answer <<<<<💕💕💕✔✔Less than $5,000 per month benefit
regardless of the cause
A Medicare Supplement policyholder has ___ days to return the policy and receive a full premium
refund. - correct answer <<<<<💕💕💕✔✔30
The health insurance program which is administered by each state and funded by both the federal and
state governments is called: - correct answer <<<<<💕💕💕✔✔Medicaid
Which of these is NOT considered to be a cost connected with an individual's death? - correct answer
<<<<<💕💕💕✔✔Business expenses
Group life insurance policies are generally written as - correct answer <<<<<💕💕💕✔✔annually
renewable term
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - correct answer
WITH COMPLETE SOLUTIONS
When is a Group Health policy required to provide coverage for a newborn child? - correct answer
<<<<<💕💕💕✔✔At the moment of birth
What is the required renewability status of all Medicare supplement policies? - correct answer
<<<<<💕💕💕✔✔Guaranteed renewable
Who issues Medicare Supplement policies? - correct answer <<<<<💕💕💕✔✔insurance
companies
P is the insured on a participating life policy. Which statement is true if P's premiums are waived due to
disability? - correct answer <<<<<💕💕💕✔✔P will still receive declared dividends
What type of policy would offer a 40-year old the quickest accumulation of cash value? - correct answer
<<<<<💕💕💕✔✔20-pay life
The Nevada Insurance Guaranty Association - correct answer <<<<<💕💕💕✔✔protects Nevada
insurance policy owners in the event an insurance company becomes insolvent
The most important factor to consider when determining whether to convert term insurance at the
insured's attained age or to the insured's original age is: - correct answer <<<<<💕💕💕✔✔the
cost
A Medicare Supplement policy may be cancelled for which of the following reasons? - correct answer
<<<<<💕💕💕✔✔The premiums has not been paid by the insured
A noncontributory group term life plan is characterized by: - correct answer <<<<<💕💕💕✔✔The
entire cost of the plan is paid for by the employer
,Variable annuities may invest premiums in each of the following, EXCEPT: - correct answer
<<<<<💕💕💕✔✔Insurer's corporate business account
Which of the following costs would a Basic Hospital/Surgical policy likely cover? - correct answer
<<<<<💕💕💕✔✔Surgically removing a facial birthmark
Information obtained from a phone conversation to the proposed insured can be found in which of
these reports? - correct answer <<<<<💕💕💕✔✔Inspection report
T is receiving $3,000/month from a Disability Income policy in which T's employer has pad the
premiums. How are the $3,000 benefit payments taxable? - correct answer
<<<<<💕💕💕✔✔Benefits are taxable to T.
What kind of insurance policy supplies an income stream over a set period of time that starts when the
insured dies? - correct answer <<<<<💕💕💕✔✔Family Maintenance Policy
Basic Medical Expense insurance: - correct answer <<<<<💕💕💕✔✔has lower benefit limits than
Major Medical Insurance
What is the requirement for maintaining an individual Nevada producer license? - correct answer
<<<<<💕💕💕✔✔completing 30 hours of continuing education every 3 years
J is a producer who has induced an insured through misrepresentation to surrender an existing
insurance policy. What is J guilty of? - correct answer <<<<<💕💕💕✔✔Twisting
Which of these is considered a mandatory provision? - correct answer <<<<<💕💕💕✔✔payment
of claims
Which life insurance rider typically appears on a Juvenile life insurance policy? - correct answer
<<<<<💕💕💕✔✔payor benefit rider
, What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the
required minimum distributions from their qualified retirement plan? - correct answer
<<<<<💕💕💕✔✔50%
An individual has a Major Medical policy with a $5,000 deductible and an 80/20 Coinsurance clause.
How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred?
- correct answer <<<<<💕💕💕✔✔$7,000
Within how many days after policy delivery can a Long-term Care policy be returned for a 100%
premium refund? - correct answer <<<<<💕💕💕✔✔30
Which of the following is an example of defamation? - correct answer <<<<<💕💕💕✔✔circulating
brochures that falsely denounce the financial condition of an insurer
T has a Disability Income policy that pays a monthly benefit of $5,000. If T becomes partially disabled,
what can he likely expect? - correct answer <<<<<💕💕💕✔✔Less than $5,000 per month benefit
regardless of the cause
A Medicare Supplement policyholder has ___ days to return the policy and receive a full premium
refund. - correct answer <<<<<💕💕💕✔✔30
The health insurance program which is administered by each state and funded by both the federal and
state governments is called: - correct answer <<<<<💕💕💕✔✔Medicaid
Which of these is NOT considered to be a cost connected with an individual's death? - correct answer
<<<<<💕💕💕✔✔Business expenses
Group life insurance policies are generally written as - correct answer <<<<<💕💕💕✔✔annually
renewable term
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the
company discovered W's true age at issue had been 59. What would the normal procedure be under the
misstatement of age provision in regard to the payment of the death claim? - correct answer
