EXCEL Practice Exam Questions and Answers (100% Pass)
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Course
Xcel
Institution
Xcel
EXCEL Practice Exam Questions and
Answers (100% Pass)
A licensed agent who lives in another state and transacts insurance in Ohio
is called
a foreign agent
a special agent
a nonresident agent
an unauthorized agent - Answer️️ -a nonresident agent
Which of these factors is NOT taken into ...
incentive to purchase more coverage - Answer✔️✔️-hedge against inflation
Which settlement option involves having the proceeds remain with the
insurer and earnings paid on a monthly basis to the beneficiary?
interest only
dividends only
extended interest
fixed period - Answer✔️✔️-interest only
In Ohio, a life insurance policy can be backdated before the application
date for up to
10 days
30 days
3 months
6 months - Answer✔️✔️-3 months
Ron has a life insurance policy with a face value of $100,000 and a cost of
living rider. If the consumer price index has gone up 4%, how much may
Ron increase the face value of the policy?
4
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