VA Life Insurance Practice Exam (90
Xcel) Question & Answers 2025
P is a producer who notices 5 questions on a life
application were not answered. What actions should P
take? - CORRECT ANSWERS ✅✅Set up a meeting
with the applicant to answer the remaining questions
K buys a policy where the premium stays fixed for the
first 5 years. The premium then increases in year 6 and
stays level thereafter, all the while the death benefit
remains the same. What kind of policy is this? -
CORRECT ANSWERS ✅✅Modified Whole Life
Which of the following would be a valid reason for
suspending or revoking an insurance agent's license? -
CORRECT ANSWERS ✅✅Participating in the act of
twisting
Post-tax dollar contributions are found in: - CORRECT
ANSWERS ✅✅Roth IRA investments
Which of the following is a requirement to be eligible for a
group life policy in Virginia? - CORRECT ANSWERS
✅✅Group must be formed for a purpose other than
obtaining insurance
,VA Life Insurance Practice Exam (90
Xcel) Question & Answers 2025
K applies for a life insurance policy on herself and
submits the initial premium with the application. She is
given a receipt by the agent stating that coverage begins
immediately if the application is approved. What kind of
receipt was used? - CORRECT ANSWERS
✅✅Conditional
If an agent holds 2 license types, the continuing
education requirement is _____ credits by December 31 in
even number years. - CORRECT ANSWERS ✅✅24
J the agent makes false statements to a prospective client
about the projected dividends for a policy. J may be found
guilty of - CORRECT ANSWERS
✅✅misrepresentation
When is he face amount paid under a Joint Life and
Survivor policy? - CORRECT ANSWERS ✅✅upon
death of the last insured
Which provision is NOT a requirement in a group life
policy? - CORRECT ANSWERS ✅✅Accidental
, VA Life Insurance Practice Exam (90
Xcel) Question & Answers 2025
An agent has made false comparisons of policies to
induce the sale of an insurance policy. This illegal act is
called - CORRECT ANSWERS ✅✅twisting
All of these are unfair trade practice EXCEPT - CORRECT
ANSWERS ✅✅Reinsurance
All of the following statements about traditional individual
retirement accounts are false EXCEPT - CORRECT
ANSWERS ✅✅10% penalty is applied to withdrawals
before age 59 1/2
Which of these statements accurately reflects Virginia law
regarding life insurance advertisements? - CORRECT
ANSWERS ✅✅An insurance agency is responsible for
advertisements placed by its insurance agents
Premiums collected by insurance agent must be
maintained in a fiduciary capacity. At what point MUST
these premiums be remitted to the insurer? - CORRECT
ANSWERS ✅✅In the ordinary course of business
If X wants to buy $50,000 worth of permanent protection
on his/her spouse and $25,000 worth of 10-year Term
coverage on X under the same policy, the applicant
Xcel) Question & Answers 2025
P is a producer who notices 5 questions on a life
application were not answered. What actions should P
take? - CORRECT ANSWERS ✅✅Set up a meeting
with the applicant to answer the remaining questions
K buys a policy where the premium stays fixed for the
first 5 years. The premium then increases in year 6 and
stays level thereafter, all the while the death benefit
remains the same. What kind of policy is this? -
CORRECT ANSWERS ✅✅Modified Whole Life
Which of the following would be a valid reason for
suspending or revoking an insurance agent's license? -
CORRECT ANSWERS ✅✅Participating in the act of
twisting
Post-tax dollar contributions are found in: - CORRECT
ANSWERS ✅✅Roth IRA investments
Which of the following is a requirement to be eligible for a
group life policy in Virginia? - CORRECT ANSWERS
✅✅Group must be formed for a purpose other than
obtaining insurance
,VA Life Insurance Practice Exam (90
Xcel) Question & Answers 2025
K applies for a life insurance policy on herself and
submits the initial premium with the application. She is
given a receipt by the agent stating that coverage begins
immediately if the application is approved. What kind of
receipt was used? - CORRECT ANSWERS
✅✅Conditional
If an agent holds 2 license types, the continuing
education requirement is _____ credits by December 31 in
even number years. - CORRECT ANSWERS ✅✅24
J the agent makes false statements to a prospective client
about the projected dividends for a policy. J may be found
guilty of - CORRECT ANSWERS
✅✅misrepresentation
When is he face amount paid under a Joint Life and
Survivor policy? - CORRECT ANSWERS ✅✅upon
death of the last insured
Which provision is NOT a requirement in a group life
policy? - CORRECT ANSWERS ✅✅Accidental
, VA Life Insurance Practice Exam (90
Xcel) Question & Answers 2025
An agent has made false comparisons of policies to
induce the sale of an insurance policy. This illegal act is
called - CORRECT ANSWERS ✅✅twisting
All of these are unfair trade practice EXCEPT - CORRECT
ANSWERS ✅✅Reinsurance
All of the following statements about traditional individual
retirement accounts are false EXCEPT - CORRECT
ANSWERS ✅✅10% penalty is applied to withdrawals
before age 59 1/2
Which of these statements accurately reflects Virginia law
regarding life insurance advertisements? - CORRECT
ANSWERS ✅✅An insurance agency is responsible for
advertisements placed by its insurance agents
Premiums collected by insurance agent must be
maintained in a fiduciary capacity. At what point MUST
these premiums be remitted to the insurer? - CORRECT
ANSWERS ✅✅In the ordinary course of business
If X wants to buy $50,000 worth of permanent protection
on his/her spouse and $25,000 worth of 10-year Term
coverage on X under the same policy, the applicant
