PACKAGE:: XCEL TESTING SOLUTIONS EXAMS

Which annuity payout option allows the policy owner to choose a pre-determined number of benefit payments? ️Ans - Period Certain Which annuity payout option has no additional payouts regardless of when the annuitant dies ️Ans - Life only annuity a professional liability for which p...

Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated: ️Ans - 1970 - Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their risk exposure? ️Ans - Trea...

Which dividend option would an insurer invest the policy owner's money and add any interest earnings as the dividends accrue? -Accumulation at Interest Option -Cash Dividend Option -Paid-Up Additions Option -One-Year Term Dividend Option ️Ans - The Accumulation at Interest Option...

Who does a life settlement broker represent? ️Ans - Individual wanting to sell their life policy to a third party What is the insurance term the State of California uses for an insurer that is eligible to transact business in this state? ️Ans - Admitted Most U.S. life ins...

A whole life insurance policy owner does not wish to continue making premium payments. Which of the following enables the policy owner to call the policy for more than its cash value? ️Ans - Life-Settlement Contract P owns a 25,000 Life policy that pays the face amount to him if he lives ...

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT ️Ans - insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to ...

Typically, Long-Term Disability benefits are coordinated with which benefit plan? ️Ans - Social Security The focus of major medical insurance is providing coverage for ️Ans - medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductib...

VA Life Insurance Practice Exam (90 Xcel Questions And Answers)

A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? ️Ans - 20-Pay Life accumulates cash value faster than Straight Life ...