XCEL FL TEST STUDY GUIDE Exam
2026 Questions and Answers Graded A+
Which of the following types of health coverage frequently uses a deductible? -
Correct answer-Major Medical policy
What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made? -
Correct answer-Irrevocable beneficiary
If a 10-Year Term Life policy contains a Renewability provision, the policy will
renew - Correct answer-without evidence of insurability
Under Florida law, a variable annuity policyowner must be notified of accumulated
value of the contract - Correct answer-once a year
Within how many days after policy delivery can a Medicare Supplement policy be
returned for a 100% premium refund? - Correct answer-30
During the course of an insurance transaction, if an agent makes a false or
incomplete statement, he/she could be found guilty of - Correct answer-
misrepresentation
,Accidental Death coverage is provided to commercial airline passengers in which
of the following types of policies? - Correct answer-Blanket Accident policy
An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age? - Correct answer-59 1/2
According to the Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains in
force even though the premium has not been paid? - Correct answer-31 days
A licensed agent must be appointed by an insurance company to solicit insurance
in Florida. The agent's license will terminate if a certain period of time elapses
without being appointed. How long is this period of time? - Correct answer-48
months
A Life insurance policyowner would like to take out a policy loan against the cash
value in his Whole Life policy. The interest rate applied to this loan may vary over
time. This is referred to as a(n) _______ rate loan. - Correct answer-Variable
Which of these provisions require proof of insurability after a policy has lapsed? -
Correct answer-Reinstatement
What is the purpose of the Insurance Guaranty Fund Association? - Correct
answer-Protects policyowners against insolvent insurance companies
, Which of the following is considered an accurate statement of an unfair trade
practice? - Correct answer-Twisting involves an agent using misrepresentation to
convince a policyowner to cancel their current policy so that they can purchases a
new life insurance policy with another company
Nursing home benefits must be provided for at least 12 consecutive months in
which of the following types of policies? - Correct answer-Long-Term Care
According to Florida law, a Group Life insurance policy requires a minimum of
how many insureds? - Correct answer-No minimum
Life and health insurance policies are: - Correct answer-Unilateral contracts
An agent that sells ______ Life insurance MUST be registered with the Financial
Industry Regulatory Authority (FINRA). - Correct answer-Variable
With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - Correct answer-monthly
Insurance companies that are organized in countries outside the United States are
referred to as - Correct answer-alien
A long-term care lapse notice must be delivered to both the applicant and - Correct
answer-secondary addressee
2026 Questions and Answers Graded A+
Which of the following types of health coverage frequently uses a deductible? -
Correct answer-Major Medical policy
What kind of Accidental Death and Dismemberment (AD&D) insurance
beneficiary requires his/her consent when a change of beneficiary is made? -
Correct answer-Irrevocable beneficiary
If a 10-Year Term Life policy contains a Renewability provision, the policy will
renew - Correct answer-without evidence of insurability
Under Florida law, a variable annuity policyowner must be notified of accumulated
value of the contract - Correct answer-once a year
Within how many days after policy delivery can a Medicare Supplement policy be
returned for a 100% premium refund? - Correct answer-30
During the course of an insurance transaction, if an agent makes a false or
incomplete statement, he/she could be found guilty of - Correct answer-
misrepresentation
,Accidental Death coverage is provided to commercial airline passengers in which
of the following types of policies? - Correct answer-Blanket Accident policy
An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age? - Correct answer-59 1/2
According to the Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains in
force even though the premium has not been paid? - Correct answer-31 days
A licensed agent must be appointed by an insurance company to solicit insurance
in Florida. The agent's license will terminate if a certain period of time elapses
without being appointed. How long is this period of time? - Correct answer-48
months
A Life insurance policyowner would like to take out a policy loan against the cash
value in his Whole Life policy. The interest rate applied to this loan may vary over
time. This is referred to as a(n) _______ rate loan. - Correct answer-Variable
Which of these provisions require proof of insurability after a policy has lapsed? -
Correct answer-Reinstatement
What is the purpose of the Insurance Guaranty Fund Association? - Correct
answer-Protects policyowners against insolvent insurance companies
, Which of the following is considered an accurate statement of an unfair trade
practice? - Correct answer-Twisting involves an agent using misrepresentation to
convince a policyowner to cancel their current policy so that they can purchases a
new life insurance policy with another company
Nursing home benefits must be provided for at least 12 consecutive months in
which of the following types of policies? - Correct answer-Long-Term Care
According to Florida law, a Group Life insurance policy requires a minimum of
how many insureds? - Correct answer-No minimum
Life and health insurance policies are: - Correct answer-Unilateral contracts
An agent that sells ______ Life insurance MUST be registered with the Financial
Industry Regulatory Authority (FINRA). - Correct answer-Variable
With a medical discount plan, how often would a person generally pay a fee to get
discounts on specific services? - Correct answer-monthly
Insurance companies that are organized in countries outside the United States are
referred to as - Correct answer-alien
A long-term care lapse notice must be delivered to both the applicant and - Correct
answer-secondary addressee
