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Xcel Testing Solutions- Life and Health
Insurance
2025 Xcel Testing Solutions- Life and Health
Insurance
EXAM NEWEST VERSION
Study Guide 600 Questions and Verified ANSWERs
| 100% Correct.
What does the Group Life underwriting risk selection process
help protect insurance companies from?
......ANSWER.....Adverse selection is the tendency of less
favorable insurance risks to seek or continue insurance to a
greater extent than others.
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......ANSWER.....Decreasing term insurance is normally used to
pay off a mortgage balance in the event of death of the insured.
Sharon is the policyowner of a $50,000 life insurance policy.
Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike's
signature in order to change the beneficiary, what kind of
beneficiary designation is this? ......ANSWER.....An irrevocable
beneficiary designation requires the beneficiary's signature.
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Xcel Testing Solutions- Life and Health
Insurance
Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to
Matt's beneficiary if Matt ......ANSWER.....Matt's beneficiary
will be provided with the double indemnity ride if Matt dies
instantly from a car accident.
Which type of policy combines the flexibility of a Universal Life
Policy with investment choices? ......ANSWER.....When the
structure and flexibility of a universal life policy are combined
with investment choices, the result is a variable universal life
policy.
Which situation accurately describes a reduced paid-up
nonforfeiture option? ......ANSWER.....Policy has a decreased
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face amount. With a reduced paid-up nonforfeiture option, the
policy will have a decreased face amount.
Interest on benefits of a life insurance policy shall begin to
accrue
____ days from the date of receipt of proof of death by the
insurer. ......ANSWER.....30. Interest on benefits of a life
insurance policy shall begin to accrue 30 days from the date of
receipt of proof of death by the insurer.
A life insurance claim which involves a per capita distribution of
policy proceeds would be payable to the ......ANSWER.....named
living primary beneficiaries. "Per capita" is a method of life
insurance distribution using total number of individuals.
Xcel Testing Solutions- Life and Health
Insurance
2025 Xcel Testing Solutions- Life and Health
Insurance
EXAM NEWEST VERSION
Study Guide 600 Questions and Verified ANSWERs
| 100% Correct.
What does the Group Life underwriting risk selection process
help protect insurance companies from?
......ANSWER.....Adverse selection is the tendency of less
favorable insurance risks to seek or continue insurance to a
greater extent than others.
,2|Page
......ANSWER.....Decreasing term insurance is normally used to
pay off a mortgage balance in the event of death of the insured.
Sharon is the policyowner of a $50,000 life insurance policy.
Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike's
signature in order to change the beneficiary, what kind of
beneficiary designation is this? ......ANSWER.....An irrevocable
beneficiary designation requires the beneficiary's signature.
,3|Page
Xcel Testing Solutions- Life and Health
Insurance
Matt is applying for life insurance and requests a double
indemnity rider. A double indemnity benefit will be payable to
Matt's beneficiary if Matt ......ANSWER.....Matt's beneficiary
will be provided with the double indemnity ride if Matt dies
instantly from a car accident.
Which type of policy combines the flexibility of a Universal Life
Policy with investment choices? ......ANSWER.....When the
structure and flexibility of a universal life policy are combined
with investment choices, the result is a variable universal life
policy.
Which situation accurately describes a reduced paid-up
nonforfeiture option? ......ANSWER.....Policy has a decreased
, 4|Page
face amount. With a reduced paid-up nonforfeiture option, the
policy will have a decreased face amount.
Interest on benefits of a life insurance policy shall begin to
accrue
____ days from the date of receipt of proof of death by the
insurer. ......ANSWER.....30. Interest on benefits of a life
insurance policy shall begin to accrue 30 days from the date of
receipt of proof of death by the insurer.
A life insurance claim which involves a per capita distribution of
policy proceeds would be payable to the ......ANSWER.....named
living primary beneficiaries. "Per capita" is a method of life
insurance distribution using total number of individuals.
