XCEL TESTING SOLUTIONS END OF COURSE 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔Which type of beneficiary should be named if the insured wants to give explicit
directions on how the policy proceeds should be paid? - ✔✔- Individual
- Group
- Class
- Estate
Individual
✔✔All of the following are considered to be a nonforfeiture options available to a
policyowner EXCEPT - ✔✔- Extended Term Insurance
- Cash surrender
- Reduction of premium
- Reduced Paid-up insurance
Reduction of Premium
✔✔Which entity regulates claim settlement practices? - ✔✔- Attorney generals
- Better Business Bureau
- NAIC
- State insurance departments
state insurance departments
✔✔A waiver of premium rider allows an insured to waive premium payments if the
insured is - ✔✔- temporarily disabled
- unemployed
- completely and permanently disabled
- experiencing financial hardship
completely and permanently disabled
✔✔Which type of annuity stops all payments upon death of the annuitant? - ✔✔- Life
annuity
- Period certain annuity
- Cash refund annuity
- Joint and survivor annuity
Life annuity
✔✔In what part of an insurance policy benefits found? - ✔✔- Declarations
- Entire contract
- Waivers
, - Conditions
Declarations
✔✔Which of these is NOT considered to be a risk factor in life insurance underwriting? -
✔✔- Number of children
- Health history
- Hobbies
- Occupation
Number of children
✔✔The double indemnity provision in a life insurance policy pertains to an insured's
death caused by a(n) - ✔✔- sickness
- suicide
- accident
- war
accident
✔✔All of these are valid options for an Adjustable Life Policy EXCEPT - ✔✔- the
policy's premium can be increased or decreased
- the policy's death benefit can be increased or decreased
- A nonforfeiture option can be increased the death benefit
- The policy's protection period can be modified
A nonforfeiture option can be increased the death benefit.
✔✔On occasion, insurable interest may exist in the absence of economic interest.
Which of the following examples does this pertain to? - ✔✔- Business associates
- business competitors
- a husband and wife
- students in a classroom
a husband and wife
✔✔An example of an Unfair Claims Settlement Practice is - ✔✔- making it mandatory
that proof of loss be provided for each claim
- failing to promptly provide reasonable explanations for the denial of claims
- requiring a time limit for submitting a claim
- paying a claim in a timely matter
failing to promptly provide reasonable explanations for the denial of claims
QUESTIONS AND SOLUTIONS RATED A+
✔✔Which type of beneficiary should be named if the insured wants to give explicit
directions on how the policy proceeds should be paid? - ✔✔- Individual
- Group
- Class
- Estate
Individual
✔✔All of the following are considered to be a nonforfeiture options available to a
policyowner EXCEPT - ✔✔- Extended Term Insurance
- Cash surrender
- Reduction of premium
- Reduced Paid-up insurance
Reduction of Premium
✔✔Which entity regulates claim settlement practices? - ✔✔- Attorney generals
- Better Business Bureau
- NAIC
- State insurance departments
state insurance departments
✔✔A waiver of premium rider allows an insured to waive premium payments if the
insured is - ✔✔- temporarily disabled
- unemployed
- completely and permanently disabled
- experiencing financial hardship
completely and permanently disabled
✔✔Which type of annuity stops all payments upon death of the annuitant? - ✔✔- Life
annuity
- Period certain annuity
- Cash refund annuity
- Joint and survivor annuity
Life annuity
✔✔In what part of an insurance policy benefits found? - ✔✔- Declarations
- Entire contract
- Waivers
, - Conditions
Declarations
✔✔Which of these is NOT considered to be a risk factor in life insurance underwriting? -
✔✔- Number of children
- Health history
- Hobbies
- Occupation
Number of children
✔✔The double indemnity provision in a life insurance policy pertains to an insured's
death caused by a(n) - ✔✔- sickness
- suicide
- accident
- war
accident
✔✔All of these are valid options for an Adjustable Life Policy EXCEPT - ✔✔- the
policy's premium can be increased or decreased
- the policy's death benefit can be increased or decreased
- A nonforfeiture option can be increased the death benefit
- The policy's protection period can be modified
A nonforfeiture option can be increased the death benefit.
✔✔On occasion, insurable interest may exist in the absence of economic interest.
Which of the following examples does this pertain to? - ✔✔- Business associates
- business competitors
- a husband and wife
- students in a classroom
a husband and wife
✔✔An example of an Unfair Claims Settlement Practice is - ✔✔- making it mandatory
that proof of loss be provided for each claim
- failing to promptly provide reasonable explanations for the denial of claims
- requiring a time limit for submitting a claim
- paying a claim in a timely matter
failing to promptly provide reasonable explanations for the denial of claims
