XCEL Pre - Licensing Final Exam Prep
Questions with Correct Answers 2025/2026
The jreason jfor ja jbusiness jhaving ja jBusiness jOverhead jExpense jDisability jPlan jis jto jcover: j-
jCORRECT jANSWER j-fixed jbusiness jexpenses.
M jpurchases ja j$70,000 jLife jInsurance jPolicy jwith jpremium jpayments jof j$550 ja jyear jfor jthe
jfirst j5 jyears. jAt jthe jbeginning jof jthe jsixth jyear, jthe jpremium jwill jincrease jto j$800 jper jyear
jbut jwill jremain jlevel jthereafter. jThe jface jamount jwill jremain jat j$70,000 jthroughout jthe
jlife jof jthe
policy. jThe jtype jof jpolicy jthat jM jhas jpurchased jis: j- jCORRECT jANSWER j-Modified jPremium jLife
In ja jDisability jIncome jpolicy, jwhich jof jthese jclauses jacts jas ja jdeductible? j- jCORRECT
jANSWER j- jElimination jPeriod
What jare jadjustable jrates jfor jlife jpolicy jloans jin jFlorida jbased jon? j- jCORRECT jANSWER
j- jMoody's jcorporate jbond jindex
Which jpremium jschedule jresults jin jthe jlowest jcost jto jthe jpolicy jowner? j- jCORRECT jANSWER
j- jAnnual
When jan jinsurer jissues ja jpolicy jthat jrefuses jto jcover jcertain jrisks, jthis jis jreferred jto jas ja(n):
j- jCORRECT jANSWER j-exclusion
The jpart jof ja jlife jinsurance jpolicy jguaranteed jto jbe jtrue jis jcalled ja(n): j- jCORRECT jANSWER j-
jwarranty
, Which jof jthe jfollowing jcharacteristics jis jCORRECT jabout jInterest jSensitive jWhole jLife?
-There jis ja jflexible jpremium jpayment
Questions with Correct Answers 2025/2026
The jreason jfor ja jbusiness jhaving ja jBusiness jOverhead jExpense jDisability jPlan jis jto jcover: j-
jCORRECT jANSWER j-fixed jbusiness jexpenses.
M jpurchases ja j$70,000 jLife jInsurance jPolicy jwith jpremium jpayments jof j$550 ja jyear jfor jthe
jfirst j5 jyears. jAt jthe jbeginning jof jthe jsixth jyear, jthe jpremium jwill jincrease jto j$800 jper jyear
jbut jwill jremain jlevel jthereafter. jThe jface jamount jwill jremain jat j$70,000 jthroughout jthe
jlife jof jthe
policy. jThe jtype jof jpolicy jthat jM jhas jpurchased jis: j- jCORRECT jANSWER j-Modified jPremium jLife
In ja jDisability jIncome jpolicy, jwhich jof jthese jclauses jacts jas ja jdeductible? j- jCORRECT
jANSWER j- jElimination jPeriod
What jare jadjustable jrates jfor jlife jpolicy jloans jin jFlorida jbased jon? j- jCORRECT jANSWER
j- jMoody's jcorporate jbond jindex
Which jpremium jschedule jresults jin jthe jlowest jcost jto jthe jpolicy jowner? j- jCORRECT jANSWER
j- jAnnual
When jan jinsurer jissues ja jpolicy jthat jrefuses jto jcover jcertain jrisks, jthis jis jreferred jto jas ja(n):
j- jCORRECT jANSWER j-exclusion
The jpart jof ja jlife jinsurance jpolicy jguaranteed jto jbe jtrue jis jcalled ja(n): j- jCORRECT jANSWER j-
jwarranty
, Which jof jthe jfollowing jcharacteristics jis jCORRECT jabout jInterest jSensitive jWhole jLife?
-There jis ja jflexible jpremium jpayment
