XCEL Solutions Life Insurance Final Exam Questions and Verified Answers Graded A+
2026/27
Insuring Which health policy clause specifies the amount of benefits to be paid - Insuring
The investment gains from a universal life policy usually go to - The cash value
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer
finds out that the applicant misstated their age. What will the insurer do? - Adjust the
death benefit to a reduced amount
An employee is covered under a company group life plan with a $50,000 death benefit. What is
the Maximum amount a spouse may be insured for under this program - $25,000
M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M.
What determines the claim M is eligible for - Determined by the terms of the policy
A(n)__-_-_-_-_-_-_-_ beneficiary may be changed by the policy owner without the consent of
the beneficiary - Revocable
What is the MINIMUM benefit period that must be offered by a long term care policy - 12
months
To terminate an agent's appointment, an insurance company must - Send termination
notice to the Texas Department of Insurance
,An agent gives a conditional receipt to a client for an insurance policy after collecting the initial
premium. When will the policy become effective? - When the conditions of the receipt are
met
Which of the following costs would a Basic Hospital/Surgical policy cover? - Surgically
removing a facial birthmark
Which of the following statements is CORRECT about an agent who is taking an insurance
application - The agent should have the applicant initial any changes made on the
application
Which statement is true about a whole life policy - Cash value may be borrowed against
How long does an insurance company appointment remain in force - Until terminated
Which of the following statements about health coverage for newborns is NOT true? -
Coverage is LIMITED to only congenital defects
Medicare Part A and Part B do NOT pay for - Dental care
An insurance company receives E's application for an individual health policy. E did not
complete all of the medical history questions because she could not remember the exact dates. E
signed the policy and submitted it to the insurance company anyway. A few weeks later, E suffers
, a heart attack and is hospitalized without completing the medical history questions and paying
the initial premium. E is not insured. Which of the following clauses details the conditions that E
did not meet? - Consideration clause
The percentage of an individuals primary insurance amount determines the benefits paid in
which of the following programs - Social Security Disability Income
Q is severely injured in an automobile accident and becomes totally disabled. How many months
must Q be disabled before being able to apply for Social Security disability benefits? - 5
months
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms -
File written proof of loss
Which of the following types of care is typically not covered in a long term care policy -
acupuncture
Which of these does not constitute policy delivery - Policy issued with a rating
Which type of plan normally includes hospice benefits - Managed care plans
Non-occupational disability coverage is designed for - Employees who suffer non work
related disabilities, since work related disabilities are covered by workers compensation
2026/27
Insuring Which health policy clause specifies the amount of benefits to be paid - Insuring
The investment gains from a universal life policy usually go to - The cash value
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer
finds out that the applicant misstated their age. What will the insurer do? - Adjust the
death benefit to a reduced amount
An employee is covered under a company group life plan with a $50,000 death benefit. What is
the Maximum amount a spouse may be insured for under this program - $25,000
M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M.
What determines the claim M is eligible for - Determined by the terms of the policy
A(n)__-_-_-_-_-_-_-_ beneficiary may be changed by the policy owner without the consent of
the beneficiary - Revocable
What is the MINIMUM benefit period that must be offered by a long term care policy - 12
months
To terminate an agent's appointment, an insurance company must - Send termination
notice to the Texas Department of Insurance
,An agent gives a conditional receipt to a client for an insurance policy after collecting the initial
premium. When will the policy become effective? - When the conditions of the receipt are
met
Which of the following costs would a Basic Hospital/Surgical policy cover? - Surgically
removing a facial birthmark
Which of the following statements is CORRECT about an agent who is taking an insurance
application - The agent should have the applicant initial any changes made on the
application
Which statement is true about a whole life policy - Cash value may be borrowed against
How long does an insurance company appointment remain in force - Until terminated
Which of the following statements about health coverage for newborns is NOT true? -
Coverage is LIMITED to only congenital defects
Medicare Part A and Part B do NOT pay for - Dental care
An insurance company receives E's application for an individual health policy. E did not
complete all of the medical history questions because she could not remember the exact dates. E
signed the policy and submitted it to the insurance company anyway. A few weeks later, E suffers
, a heart attack and is hospitalized without completing the medical history questions and paying
the initial premium. E is not insured. Which of the following clauses details the conditions that E
did not meet? - Consideration clause
The percentage of an individuals primary insurance amount determines the benefits paid in
which of the following programs - Social Security Disability Income
Q is severely injured in an automobile accident and becomes totally disabled. How many months
must Q be disabled before being able to apply for Social Security disability benefits? - 5
months
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms -
File written proof of loss
Which of the following types of care is typically not covered in a long term care policy -
acupuncture
Which of these does not constitute policy delivery - Policy issued with a rating
Which type of plan normally includes hospice benefits - Managed care plans
Non-occupational disability coverage is designed for - Employees who suffer non work
related disabilities, since work related disabilities are covered by workers compensation
