Xcel Final Exam Crunch Questions and Answers 100% Pass

Xcel Final Exam Crunch Questions and Answers 100% Pass Which of these would be the best example of a limited pay life insurance policy? Whole life policy that pays out its cash value over a 20 year period Whole life policy with premiums paid after 20 years Term life policy that returns cash value after 20 years Term life policy with premiums paid up after 20 years - Whole life policy with premiums paid after 20 years Which of these is NOT considered to be a common life insurance nonforfeiture option? Cash Surrender Extended Term Insurance Reduced paid-up insurance Life income annuity - Life income annuity Which type of policy combines the flexibility of a universal life policy with investment choices? EMILY CHARLENE © 2025, ALL RIGHTS RESERVED 2 Adjustable universal life policy Flexible universal life policy Variable universal life policy Modified universal life policy - Variable universal life policy Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30 year period? Adjustable life insurance Decreasing term insurance Increasing term insurance Modified life insurance - Decreasing life insurance Violating Pennsylvania insurance law may result in which of the following insurance Department actions? Loss of producer premium fund account Insurer appointments terminated Issuance of a cease and desist order after a hearing Minimum 3-month prison sentence - Issuance of a cease and desist order after a hearing EMILY CHARLENE © 2025, ALL RIGHTS RESERVED 3 What does the word "level" in Level Term describe? The period of coverage The face amount The premium payments The cash value - The face amount A policy owner is prohibited from making any changes to the policy without the beneficiary's written consent under which beneficiar