XCEL LIFE AND HEALTH INSURANCE FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+.pdf

XCEL LIFE INSURANCE INDIANA FINAL m m m m




EXAM TEST | COMPLETE 2025 ACTUAL EX m m m m m m




AM WITH CORRECT VERIFIED ANSWERS
m m m m




| GUARANTEED A+ EXAM EXCELLENCE
m m m m




M has an insurance policy that also has an outstanding policy loan at t
m m m m m m m m m m m m m




he time of M's death. The insurer will deduct the outstanding loan bal
m m m m m m m m m m m m




ance from the: - ✔✔✔ Correct Answer > policy proceeds
m m m m m m m m m




The stated amount or percent of liquid assets that an insurer must hav
m m m m m m m m m m m m




e on hand that will satisfy future obligations to its policyholders is calle
m m m m m m m m m m m m




d:

- ✔✔✔ Correct Answer > Reserves
m m m m m




A nonprofit incorporated society that does not have capital stock and o
m m m m m m m m m m m




perates for the sole benefit of its members is known as: -
m m m m m m m m m m m




m ✔✔✔ Correct Answer > Fraternal Benefit Society
m m m m m m

,A provision in a life insurance policy that pays the policyowner an amo
m m m m m m m m m m m m




unt that does surpass the guaranteed cash value is called the: -
m m m m m m m m m m m




✔✔✔ Correct Answer > Policy loan provision
m m m m m m




Which life insurance rider typically appears on a juvenile life insurance
m m m m m m m m m m m




policy? - ✔✔✔ Correct Answer > Payor benefits rider
m m m m m m m m




At what point must a life insurance applicant be informed of their right
m m m m m m m m m m m m




s that fall under the fair credit reporting act -
m m m m m m m m m




m ✔✔✔ Correct Answer > Upon completion of the application
m m m m m m m m




Who elects the governing body of a mutual insurance company? -
m m m m m m m m m m




✔✔✔ Correct Answer > policyholders
m m m m

,Which of these describes e a participating insurance policy? - ✔✔✔
m m m m m m m m m m




Correct Answer > Policyowners are entitled to receive dividends
m m m m m m m m




Dividends payable to a policy owner are: -
m m m m m m m




m ✔✔✔ Correct Answer > Declared by the insurance company
m m m m m m m m




What types of reinsurance contract involves two companies automatic
m m m m m m m m




ally sharing their risk exposure - ✔✔✔ Correct Answer > Treaty
m m m m m m m m m m




Which of the following consists of an offer, acceptance and considerati
m m m m m m m m m m




on? - ✔✔✔ Correct Answer > Contract
m m m m m m




The part of a life insurance policy guaranteed to be true is called a: -
m m m m m m m m m m m m m m




✔✔✔ Correct Answer > Warranty
m m m m

, Who makes the legally enforceable promises in a unilateral insurance p
m m m m m m m m m m




olicy? - ✔✔✔ Correct Answer > Insurance company
m m m m m m m




Which of these is NOT a type of agent authority? -
m m m m m m m m m m




m ✔✔✔ Correct Answer > Principal
m m m m




In an insurance contract, the insurer is the only party who makes
m m m m m m m m m m m m




a legally enforceable promise. What kind of contract is this? -
m m m m m m m m m m




m ✔✔✔ Correct Answer > Unilateral
m m m m




Insurance policies are considered aleatory contracts because - ✔✔✔
m m m m m m m m




Correct Answer > Performance is conditions upon a future occurrence
m m m m m m m m m