XCEL final exam questions
XCEL final exam questions
Study online at https://quizlet.com/_ect7wq
1. The coverage, conditions, and limitations in the Certificate of coverage and benefits
master policy of a group contract can be found
in which document?
2. Which of these is NOT subject to false advertis- Gifts
ing regulations?
3. A policyowner may exercise which of these div- Reduction of premium dividend op-
idend options that uses the dividend to pay all tion
or part of the next premium due?
4. Which of the following is considered to be an Falsifying the terms, benefits, ad-
act of misrepresentation? vantages, or conditions of an insur-
ance policy
5. which of these is NOT the responsibility of a represent the insured
producer?
6. Which of these will have the highest monthly Straight life
payout upon annuitization?
7. What is considered to be the primary reason for Provide death benefits
buying life insurance?
8. A life insurance policy sold in Michigan may be two
contested by the insurer ONLY during the first
______ year(s) of the contract
9. A(n) _________ company is owned by its share- Stock
holders
10. A guaranteed issue insurance policy has no medical underwriting
11. Counselor
www.stuvia.com
, XCEL final exam questions
XCEL final exam questions
Study online at https://quizlet.com/_ect7wq
In Michigan, a person providing insurance ad-
vice to a person or business for a fee is required
to hold which license?
12. which of the following does a life insurance pol- The policy's cash value
icy summary normally include?
13. Which of these is affected by the frequency of Cost
an insurance policy's premium payments?
14. Which of these is the BEST example of misrep- Providing incorrect, misleading, in-
resentation? complete, or materially untrue infor-
mation in a license application
15. A producer has allowed his/her license to lapse 90 days
by failing to complete the required continuing
education credits. The license may be reinstat-
ed by completing the requirement within ___
days of the renewal date.
16. A producer may give an insurance applicant an $5
article of merchandise having an invoice value
of ____ or less
17. The DO NOT Call registry offers exemptions for Insurance sales calls
calls placed from all of the following EXCEPT
18. Which of these BEST describes the illegal act of Replacing an insurance policy from
twisting? one insurer to another based on
misrepresentation
19. Paul the producer has provided a false state- Fraud
ment in relation to an insurance claim. Which
illegal act has been committed?
www.stuvia.com
XCEL final exam questions
Study online at https://quizlet.com/_ect7wq
1. The coverage, conditions, and limitations in the Certificate of coverage and benefits
master policy of a group contract can be found
in which document?
2. Which of these is NOT subject to false advertis- Gifts
ing regulations?
3. A policyowner may exercise which of these div- Reduction of premium dividend op-
idend options that uses the dividend to pay all tion
or part of the next premium due?
4. Which of the following is considered to be an Falsifying the terms, benefits, ad-
act of misrepresentation? vantages, or conditions of an insur-
ance policy
5. which of these is NOT the responsibility of a represent the insured
producer?
6. Which of these will have the highest monthly Straight life
payout upon annuitization?
7. What is considered to be the primary reason for Provide death benefits
buying life insurance?
8. A life insurance policy sold in Michigan may be two
contested by the insurer ONLY during the first
______ year(s) of the contract
9. A(n) _________ company is owned by its share- Stock
holders
10. A guaranteed issue insurance policy has no medical underwriting
11. Counselor
www.stuvia.com
, XCEL final exam questions
XCEL final exam questions
Study online at https://quizlet.com/_ect7wq
In Michigan, a person providing insurance ad-
vice to a person or business for a fee is required
to hold which license?
12. which of the following does a life insurance pol- The policy's cash value
icy summary normally include?
13. Which of these is affected by the frequency of Cost
an insurance policy's premium payments?
14. Which of these is the BEST example of misrep- Providing incorrect, misleading, in-
resentation? complete, or materially untrue infor-
mation in a license application
15. A producer has allowed his/her license to lapse 90 days
by failing to complete the required continuing
education credits. The license may be reinstat-
ed by completing the requirement within ___
days of the renewal date.
16. A producer may give an insurance applicant an $5
article of merchandise having an invoice value
of ____ or less
17. The DO NOT Call registry offers exemptions for Insurance sales calls
calls placed from all of the following EXCEPT
18. Which of these BEST describes the illegal act of Replacing an insurance policy from
twisting? one insurer to another based on
misrepresentation
19. Paul the producer has provided a false state- Fraud
ment in relation to an insurance claim. Which
illegal act has been committed?
www.stuvia.com
