Xcel Testing Solutions (Life & Health) Final 150
Question Practice Exam / Q-Bank / Actual Questions & Certified
Solutions / Complete Accurate Quizzes with Verified Answers / 2025-
2026.
Terms in this set (167)
When can a policy owner Anytime
change a revocable
beneficiary?
M purchased an Revocable
Accidental Death and
Dismemberment (AD&D)
policy and named his son as
beneficiary. M has the right
to change the beneficiary
designation at anytime.
What type of beneficiary is
his son?
How would a contingent If the primary beneficiary dies before the insured
beneficiary receive the
policy proceeds in an
Accidental Death and
Dismemberment (AD&D)
policy?
The early years are charged less than what is needed
What is the underlying
concept regarding level
premiums?
,A policy owner is able to Premium Mode
choose the frequency of
premium payments
through what policy
feature?
Any changes made on an Applicant
insurance application
requires the initials of
whom?
All of these are considered Rating Services
sources of underwriting
information about an
applicant
EXCEPT
Q applied for life insurance Policy was returned within the free-look period, premium will
and submitted the initial be fully refunded
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?
free-look period has expired
M completes an
application for life insurance
but does not pay the initial
premium. All of these actions
must occur before M's policy
goes into effect EXCEPT
, What action should a Forward the application to the insurer without the initial
producer take if the initial premium
premium is NOT submitted
with the application?
Which of the following is an Everyone must be covered in the group
important underwriting
principle of group life
insurance?
Which requirement must Group was formed for a purpose other than acquiring insurance
be met for an association to
be eligible for a group life
plan?
When an employee is Policy proceeds will be paid if the employee dies during the
terminated, which conversion period
statement about a group
term life conversion is
true?
Under a trustee group life Corporation
policy, who would be eligible
for a certificate of coverage?
Fixed Deferred
N, age 50, recently bought an
annuity that will pay a
guaranteed $2,000/month at
age 70 for life. What type of
annuity did N purchase?
Question Practice Exam / Q-Bank / Actual Questions & Certified
Solutions / Complete Accurate Quizzes with Verified Answers / 2025-
2026.
Terms in this set (167)
When can a policy owner Anytime
change a revocable
beneficiary?
M purchased an Revocable
Accidental Death and
Dismemberment (AD&D)
policy and named his son as
beneficiary. M has the right
to change the beneficiary
designation at anytime.
What type of beneficiary is
his son?
How would a contingent If the primary beneficiary dies before the insured
beneficiary receive the
policy proceeds in an
Accidental Death and
Dismemberment (AD&D)
policy?
The early years are charged less than what is needed
What is the underlying
concept regarding level
premiums?
,A policy owner is able to Premium Mode
choose the frequency of
premium payments
through what policy
feature?
Any changes made on an Applicant
insurance application
requires the initials of
whom?
All of these are considered Rating Services
sources of underwriting
information about an
applicant
EXCEPT
Q applied for life insurance Policy was returned within the free-look period, premium will
and submitted the initial be fully refunded
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?
free-look period has expired
M completes an
application for life insurance
but does not pay the initial
premium. All of these actions
must occur before M's policy
goes into effect EXCEPT
, What action should a Forward the application to the insurer without the initial
producer take if the initial premium
premium is NOT submitted
with the application?
Which of the following is an Everyone must be covered in the group
important underwriting
principle of group life
insurance?
Which requirement must Group was formed for a purpose other than acquiring insurance
be met for an association to
be eligible for a group life
plan?
When an employee is Policy proceeds will be paid if the employee dies during the
terminated, which conversion period
statement about a group
term life conversion is
true?
Under a trustee group life Corporation
policy, who would be eligible
for a certificate of coverage?
Fixed Deferred
N, age 50, recently bought an
annuity that will pay a
guaranteed $2,000/month at
age 70 for life. What type of
annuity did N purchase?
