XCEL SOLUTIONS EXAM PREP 2025/2026
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
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
, XCEL SOLUTIONS EXAM PREP 2025/2026
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
Insurance agent as a fiduciary responsibility to all of the following
EXCEPT? - ANSWER---Other agents
Question 7
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
, XCEL SOLUTIONS EXAM PREP 2025/2026
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
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
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
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
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
, XCEL SOLUTIONS EXAM PREP 2025/2026
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
Insurance agent as a fiduciary responsibility to all of the following
EXCEPT? - ANSWER---Other agents
Question 7
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
, XCEL SOLUTIONS EXAM PREP 2025/2026
QUESTIONS AND CORRECT DETAILED ANSWERS
FOR GUARANTEED PASS
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
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
