Xcel Testing Solutions (Life & Health) Final 150 Question
Practice Exam Questions with Correct Answers 2025/2026
When mcan ma mpolicy mowner mchange ma mrevocable mbeneficiary? m- mCORRECT mANSWER m-
Anytime
M mpurchased man mAccidental mDeath mand mDismemberment m(AD&D) mpolicy mand mnamed mhis
mson mas mbeneficiary. mM mhas mthe mright mto mchange mthe mbeneficiary mdesignation mat
manytime. mWhat mtype mof mbeneficiary mis mhis mson? m- mCORRECT mANSWER m-Revocable
How mwould ma mcontingent mbeneficiary mreceive mthe mpolicy mproceeds min man mAccidental
mDeath mand
Dismemberment m(AD&D) mpolicy? m- mCORRECT mANSWER m-If mthe mprimary mbeneficiary mdies
mbefore mthe minsured
What mis mthe munderlying mconcept mregarding mlevel mpremiums? m- mCORRECT mANSWER m-
The mearly myears mare mcharged mless mthan mwhat mis mneeded
A mpolicy mowner mis mable mto mchoose mthe mfrequency mof mpremium mpayments mthrough
mwhat mpolicy mfeature? m- mCORRECT mANSWER m-Premium mMode
Any mchanges mmade mon man minsurance mapplication mrequires mthe minitials mof mwhom? m-
mCORRECT mANSWER m-Applicant
All mof mthese mare mconsidered msources mof munderwriting minformation mabout man mapplicant
mEXCEPT m- mCORRECT mANSWER m-Rating mServices
,Q mapplied mfor mlife minsurance mand msubmitted mthe minitial mpremium mon mJanuary m1.
mThe mpolicy mwas missued mFebruary m1, mbut mit mwas mnot mdelivered mby mthe magent muntil
mFebruary m7. mQ mis mdissatisfied mand
, returns mthe mpolicy mFebruary m13. mHow mwill mthe minsurer mhandle mthis msituation? m-
mCORRECT mANSWER m- mPolicy mwas mreturned mwithin mthe mfree-look mperiod, mpremium
mwill mbe mfully mrefunded
M mcompletes man mapplication mfor mlife minsurance mbut mdoes mnot mpay mthe minitial
mpremium. mAll mof mthese mactions mmust moccur mbefore mM's mpolicy mgoes minto meffect
mEXCEPT m- mCORRECT mANSWER m-free-look mperiod mhas mexpired
What maction mshould ma mproducer mtake mif mthe minitial mpremium mis mNOT msubmitted mwith
mthe
application? m- mCORRECT mANSWER m-Forward mthe mapplication mto mthe minsurer mwithout
mthe minitial mpremium
Which mof mthe mfollowing mis man mimportant munderwriting mprinciple mof mgroup mlife
minsurance? m- mCORRECT mANSWER m-Everyone mmust mbe mcovered min mthe mgroup
Which mrequirement mmust mbe mmet mfor man massociation mto mbe meligible mfor ma mgroup
mlife mplan? m- mCORRECT mANSWER m-Group mwas mformed mfor ma mpurpose mother mthan
macquiring minsurance
When man memployee mis mterminated, mwhich mstatement mabout ma mgroup mterm mlife
mconversion mis mtrue? m-
CORRECT mANSWER m-Policy mproceeds mwill mbe mpaid mif mthe memployee mdies mduring mthe
mconversion mperiod
Under ma mtrustee mgroup mlife mpolicy, mwho mwould mbe meligible mfor ma mcertificate mof
mcoverage? m- mCORRECT mANSWER m-Corporation
N, mage m50, mrecently mbought man mannuity mthat mwill mpay ma mguaranteed m$2,000/month
mat mage m70 mfor mlife. mWhat mtype mof mannuity mdid mN mpurchase? m- mCORRECT
mANSWER m-Fixed mDeferred
S mrecently mreceived ma m$500,000 mlump msum mretirement mbuyout mfrom mher memployer.
mShe mwould mlike mto mbuy man mannuity mthat mwill mimmediately mfurnish mher mwith ma
Practice Exam Questions with Correct Answers 2025/2026
When mcan ma mpolicy mowner mchange ma mrevocable mbeneficiary? m- mCORRECT mANSWER m-
Anytime
M mpurchased man mAccidental mDeath mand mDismemberment m(AD&D) mpolicy mand mnamed mhis
mson mas mbeneficiary. mM mhas mthe mright mto mchange mthe mbeneficiary mdesignation mat
manytime. mWhat mtype mof mbeneficiary mis mhis mson? m- mCORRECT mANSWER m-Revocable
How mwould ma mcontingent mbeneficiary mreceive mthe mpolicy mproceeds min man mAccidental
mDeath mand
Dismemberment m(AD&D) mpolicy? m- mCORRECT mANSWER m-If mthe mprimary mbeneficiary mdies
mbefore mthe minsured
What mis mthe munderlying mconcept mregarding mlevel mpremiums? m- mCORRECT mANSWER m-
The mearly myears mare mcharged mless mthan mwhat mis mneeded
A mpolicy mowner mis mable mto mchoose mthe mfrequency mof mpremium mpayments mthrough
mwhat mpolicy mfeature? m- mCORRECT mANSWER m-Premium mMode
Any mchanges mmade mon man minsurance mapplication mrequires mthe minitials mof mwhom? m-
mCORRECT mANSWER m-Applicant
All mof mthese mare mconsidered msources mof munderwriting minformation mabout man mapplicant
mEXCEPT m- mCORRECT mANSWER m-Rating mServices
,Q mapplied mfor mlife minsurance mand msubmitted mthe minitial mpremium mon mJanuary m1.
mThe mpolicy mwas missued mFebruary m1, mbut mit mwas mnot mdelivered mby mthe magent muntil
mFebruary m7. mQ mis mdissatisfied mand
, returns mthe mpolicy mFebruary m13. mHow mwill mthe minsurer mhandle mthis msituation? m-
mCORRECT mANSWER m- mPolicy mwas mreturned mwithin mthe mfree-look mperiod, mpremium
mwill mbe mfully mrefunded
M mcompletes man mapplication mfor mlife minsurance mbut mdoes mnot mpay mthe minitial
mpremium. mAll mof mthese mactions mmust moccur mbefore mM's mpolicy mgoes minto meffect
mEXCEPT m- mCORRECT mANSWER m-free-look mperiod mhas mexpired
What maction mshould ma mproducer mtake mif mthe minitial mpremium mis mNOT msubmitted mwith
mthe
application? m- mCORRECT mANSWER m-Forward mthe mapplication mto mthe minsurer mwithout
mthe minitial mpremium
Which mof mthe mfollowing mis man mimportant munderwriting mprinciple mof mgroup mlife
minsurance? m- mCORRECT mANSWER m-Everyone mmust mbe mcovered min mthe mgroup
Which mrequirement mmust mbe mmet mfor man massociation mto mbe meligible mfor ma mgroup
mlife mplan? m- mCORRECT mANSWER m-Group mwas mformed mfor ma mpurpose mother mthan
macquiring minsurance
When man memployee mis mterminated, mwhich mstatement mabout ma mgroup mterm mlife
mconversion mis mtrue? m-
CORRECT mANSWER m-Policy mproceeds mwill mbe mpaid mif mthe memployee mdies mduring mthe
mconversion mperiod
Under ma mtrustee mgroup mlife mpolicy, mwho mwould mbe meligible mfor ma mcertificate mof
mcoverage? m- mCORRECT mANSWER m-Corporation
N, mage m50, mrecently mbought man mannuity mthat mwill mpay ma mguaranteed m$2,000/month
mat mage m70 mfor mlife. mWhat mtype mof mannuity mdid mN mpurchase? m- mCORRECT
mANSWER m-Fixed mDeferred
S mrecently mreceived ma m$500,000 mlump msum mretirement mbuyout mfrom mher memployer.
mShe mwould mlike mto mbuy man mannuity mthat mwill mimmediately mfurnish mher mwith ma
