INSURANCE LICENSE PRACTICE
XCEL SOLUTIONS FINAL EXAM #12
|TEXAS ONLY 2024-2025 WITH
ACTUAL CORRECT QUESTIONS AND
VERIFIED DETAILED ANSWERS
|FREQUENTLY TESTED QUESTIONS
AND SOLUTIONS |ALREADY GRADED
A+|NEWEST|GUARANTEED PASS
|LATEST UPDATE
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary?
Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of initial
license?
24 hours
Question 3
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers
that L has understated range on the application. Under the misstatement of age provision the insurer
will?
Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be?
And insurer exaggerating in dividends in a magazine advertisement
Question 5
With whom an agent legally share commissions?
1|Page
, Another agent with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the following EXCEPT?
Other agents
Question 7
Which of these is not an example of doing insurance business?
Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of?
Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity?
Indexed annuity owners receive crediting interest time to the fluctuation of the linked index
Question 10
which of the following policies combines investment choices with a form of Term coverage?
Variable universal life
Question 11
How long does an insurance company appointment remain in force?
Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of?
31 days
Question 13
Which statement is TRUE regarding a variable whole life policy?
A minimum guaranteed death benefit is provided
Question 14
in an insurance contract the insurer is the only party who makes a
Unilateral
Question 15
which of these is NOT considered to be an element of an insurance contract?
Negotiating
Question 16
What does a 401(k) plan generally provide its participants?
2|Page
XCEL SOLUTIONS FINAL EXAM #12
|TEXAS ONLY 2024-2025 WITH
ACTUAL CORRECT QUESTIONS AND
VERIFIED DETAILED ANSWERS
|FREQUENTLY TESTED QUESTIONS
AND SOLUTIONS |ALREADY GRADED
A+|NEWEST|GUARANTEED PASS
|LATEST UPDATE
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary?
Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of initial
license?
24 hours
Question 3
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers
that L has understated range on the application. Under the misstatement of age provision the insurer
will?
Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be?
And insurer exaggerating in dividends in a magazine advertisement
Question 5
With whom an agent legally share commissions?
1|Page
, Another agent with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the following EXCEPT?
Other agents
Question 7
Which of these is not an example of doing insurance business?
Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of?
Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity?
Indexed annuity owners receive crediting interest time to the fluctuation of the linked index
Question 10
which of the following policies combines investment choices with a form of Term coverage?
Variable universal life
Question 11
How long does an insurance company appointment remain in force?
Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of?
31 days
Question 13
Which statement is TRUE regarding a variable whole life policy?
A minimum guaranteed death benefit is provided
Question 14
in an insurance contract the insurer is the only party who makes a
Unilateral
Question 15
which of these is NOT considered to be an element of an insurance contract?
Negotiating
Question 16
What does a 401(k) plan generally provide its participants?
2|Page
