())))))))))))))(@)(*@U*(XCEL
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
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1 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
1 of 9XCEL
AM Final E
XCEL Final Exam
Irrevocable beneficiary - answer-What kind of life insurance beneficiary requires his/her
consent when a change of beneficiary is made?
Anytime - answer-When can a policy-owner change a revocable beneficiary?
Daughter - answer-K has a life insurance policy where her husband is beneficiary and
her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her
husband are both killed in an automobile accident, where would the death proceeds be
directed?
0 - answer-T and S are named 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 a scuba
accident shortly afterwards. How much of the death benefit will the mother receive?
If the primary beneficiary dies before the insured - answer-How would a contingent
beneficiary receive the policy proceeds in an Accidental Death and Dismemberment
(AD&D) policy?
Irrevocable - answer-A policy would like to change the beneficiary on a Life insurance
policy and make the change permanent. Which type of designation would fulfill this
need?
The early years are charged more than what is needed - answer-What is the underlying
concept regarding level premiums?
Premium Mode - answer-A policy-owner is able to choose the frequency of premium
payments through what policy feature?
Mode of Premium - answer-A policy owner is allowed to pay premiums more than once
a year under which provision?
Application will be returned to the writing agent. - answer-An incomplete life insurance
application submitted to an insurer will result in which of these actions?
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nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
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Final Exam10/27/2026, 3:41:20Final
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Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
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1 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
1 of 9XCEL
AM Final E
,())))))))))))))(@)(*@U*(XCEL
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
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Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
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2 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
2 of 9XCEL
AM Final E
Applicant - answer-Any changes made on an insurance application requires the initials
of whom?
Set up a meeting with the applicant to answer the remaining questions - answer-P is a
producer who notices 5 questions on a life application were not answered. What actions
should P take?
Policy was returned within the free-look period, premium will be fully refunded. -
answer-Q applied for life insurance and submitted the initial premium on January 1. The
policy was issued February 1, but it was not delivered by the agent until February 7. Q
is dissatisfied and returns the policy February 13. How will the insurer handle this
situation?
Beneficiary - answer-Who is NOT required to sign a life insurance application?
Forward the application o the insurer without the initial premium. - answer-What action
should a producer take if the initial premium is NOT Submitted with the application?
applicant's physician - answer-An applicant's medical information received from the
Medical Information Bureau (MIB) may be furnished to the
To detect and deter terrorism - answer-What is the purpose of the USA Patriot Act
The group was formed for a purpose other than acquiring insurance. - answer-Which
requirement must be met for an association to be eligible for a group life plan?
The policy proceeds will be paid if the employee dies during the conversion period. -
answer-When an employee is terminated, which statement about a group term life
conversion is true?
Certificate - answer-A person who is insured within a group contract will be given a
Immediate annuity - answer-W is a 39-year old female who just purchased an annuity to
provide income for life starting at age 60. All of these would be acceptable annuity
choices EXCEPT a(n)
Single premium - answer-An immediate annuity consists of a
Social Security - answer-What is Old Age and Survivors Health Insurance (OASDHI)
also known as?
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nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
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2 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
2 of 9XCEL
AM Final E
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
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Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
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1 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
1 of 9XCEL
AM Final E
XCEL Final Exam
Irrevocable beneficiary - answer-What kind of life insurance beneficiary requires his/her
consent when a change of beneficiary is made?
Anytime - answer-When can a policy-owner change a revocable beneficiary?
Daughter - answer-K has a life insurance policy where her husband is beneficiary and
her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her
husband are both killed in an automobile accident, where would the death proceeds be
directed?
0 - answer-T and S are named co-primary beneficiaries on a $500,000 Accidental Death
and Dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba
accident shortly afterwards. How much of the death benefit will the mother receive?
If the primary beneficiary dies before the insured - answer-How would a contingent
beneficiary receive the policy proceeds in an Accidental Death and Dismemberment
(AD&D) policy?
Irrevocable - answer-A policy would like to change the beneficiary on a Life insurance
policy and make the change permanent. Which type of designation would fulfill this
need?
The early years are charged more than what is needed - answer-What is the underlying
concept regarding level premiums?
Premium Mode - answer-A policy-owner is able to choose the frequency of premium
payments through what policy feature?
Mode of Premium - answer-A policy owner is allowed to pay premiums more than once
a year under which provision?
Application will be returned to the writing agent. - answer-An incomplete life insurance
application submitted to an insurer will result in which of these actions?
())))))))))))))(@)(*@U*(XCEL
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final
1 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
1 of 9XCEL
AM Final E
,())))))))))))))(@)(*@U*(XCEL
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final
2 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
2 of 9XCEL
AM Final E
Applicant - answer-Any changes made on an insurance application requires the initials
of whom?
Set up a meeting with the applicant to answer the remaining questions - answer-P is a
producer who notices 5 questions on a life application were not answered. What actions
should P take?
Policy was returned within the free-look period, premium will be fully refunded. -
answer-Q applied for life insurance and submitted the initial premium on January 1. The
policy was issued February 1, but it was not delivered by the agent until February 7. Q
is dissatisfied and returns the policy February 13. How will the insurer handle this
situation?
Beneficiary - answer-Who is NOT required to sign a life insurance application?
Forward the application o the insurer without the initial premium. - answer-What action
should a producer take if the initial premium is NOT Submitted with the application?
applicant's physician - answer-An applicant's medical information received from the
Medical Information Bureau (MIB) may be furnished to the
To detect and deter terrorism - answer-What is the purpose of the USA Patriot Act
The group was formed for a purpose other than acquiring insurance. - answer-Which
requirement must be met for an association to be eligible for a group life plan?
The policy proceeds will be paid if the employee dies during the conversion period. -
answer-When an employee is terminated, which statement about a group term life
conversion is true?
Certificate - answer-A person who is insured within a group contract will be given a
Immediate annuity - answer-W is a 39-year old female who just purchased an annuity to
provide income for life starting at age 60. All of these would be acceptable annuity
choices EXCEPT a(n)
Single premium - answer-An immediate annuity consists of a
Social Security - answer-What is Old Age and Survivors Health Insurance (OASDHI)
also known as?
())))))))))))))(@)(*@U*(XCEL
nal Exam10/27/2026,
10/27/2026, 4:25:30
3:41:20Final
AMXCEL
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final Exam10/27/2026, 3:41:20Final
AM~~~~~~())))))))))))))(@)(*@U*(XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&*$($2ZOIZHxh-2Page
Final
2 of 9XCEL
Exam@#&&*#&()&(*&)*$*)($*)*@($*(*@)$(*@$(&(*$$(&
Final Exam.pdf10/27/2026, 3:41:39
2 of 9XCEL
AM Final E
