2025 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? -
(answer)Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of initial
license? - (answer)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? - (answer)Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be? - (answer)And insurer exaggerating in dividends in a magazine
advertisement
Question 5
With whom an agent legally share commissions? - (answer)Another agent with the same line of
insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - (answer)Other agents
Question 7
, 2025 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Which of these is not an example of doing insurance business? - (answer)Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of? -
(answer)Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - (answer)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? -
(answer)Variable universal life
Question 11
How long does an insurance company appointment remain in force? - (answer)Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of? - (answer)31 days
Question 13
Which statement is TRUE regarding a variable whole life policy? - (answer)A minimum guaranteed death
benefit is provided
Question 14
, 2025 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
in an insurance contract the insurer is the only party who makes a - (answer)Unilateral
Question 15
which of these is NOT considered to be an element of an insurance contract? - (answer)Negotiating
Question 16
What does a 401(k) plan generally provide its participants? - (answer)Salary-deferral contributions
Question 17
All these statements concerning Settlement Options are true, EXCEPT? - (answer)Only the beneficiary
may select
Question 18
A domestic insurance company in Texas is considered a company that? - (answer)Is incorporated and
formed in Texas
Question 19
Which of the following statements about non-contributory employee group life insurance is FALSE? -
(answer)A minimum number of employees is required to participate
Question 20
when a misrepresentation on a life insurance policy application is discovered what action may an
insurance company take? - (answer)void the policy only if it is discovered during the contestable period
and proven to be material
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? -
(answer)Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of initial
license? - (answer)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? - (answer)Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be? - (answer)And insurer exaggerating in dividends in a magazine
advertisement
Question 5
With whom an agent legally share commissions? - (answer)Another agent with the same line of
insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - (answer)Other agents
Question 7
, 2025 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Which of these is not an example of doing insurance business? - (answer)Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of? -
(answer)Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - (answer)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? -
(answer)Variable universal life
Question 11
How long does an insurance company appointment remain in force? - (answer)Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of? - (answer)31 days
Question 13
Which statement is TRUE regarding a variable whole life policy? - (answer)A minimum guaranteed death
benefit is provided
Question 14
, 2025 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL
EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
in an insurance contract the insurer is the only party who makes a - (answer)Unilateral
Question 15
which of these is NOT considered to be an element of an insurance contract? - (answer)Negotiating
Question 16
What does a 401(k) plan generally provide its participants? - (answer)Salary-deferral contributions
Question 17
All these statements concerning Settlement Options are true, EXCEPT? - (answer)Only the beneficiary
may select
Question 18
A domestic insurance company in Texas is considered a company that? - (answer)Is incorporated and
formed in Texas
Question 19
Which of the following statements about non-contributory employee group life insurance is FALSE? -
(answer)A minimum number of employees is required to participate
Question 20
when a misrepresentation on a life insurance policy application is discovered what action may an
insurance company take? - (answer)void the policy only if it is discovered during the contestable period
and proven to be material
