XCEL SOLUTIONS FINAL EXAM #12 2024/2025 WITH 100% CORRECT ANSWERS
3 views 0 purchase
Course
XCEL
Institution
XCEL
XCEL SOLUTIONS FINAL EXAM #12 2024/2025 WITH 100% CORRECT ANSWERS
PrepWise: Your Ultimate Online Exam Store!
Ace your exams with PrepWise! Find top-notch study materials, practice tests, and expert guidance all in one place.
Why Choose PrepWise?
Comprehensive Study Guides
Accurat...
XCEL SOLUTIONS FINAL EXAM #12 2024/2025 WITH 100% CORRECT
ANSWERS
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual
value to a beneficiary? - correct answer Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24
months of initial license? - correct 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? - correct answer Adjust
the death benefits to a reduced amount
Question 4
An example of false advertising would be? - correct answer And insurer
exaggerating in dividends in a magazine advertisement
Question 5
With whom an agent legally share commissions? - correct answer Another agent
with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the following EXCEPT? -
correct answer Other agents
,Question 7
Which of these is not an example of doing insurance business? - correct answer
Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is an
example of? - correct answer Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - correct 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? - correct answer Variable universal life
Question 11
How long does an insurance company appointment remain in force? - correct
answer Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period
of? - correct answer 31 days
Question 13
Which statement is TRUE regarding a variable whole life policy? - correct answer
A minimum guaranteed death benefit is provided
, Question 14
in an insurance contract the insurer is the only party who makes a - correct answer
Unilateral
Question 15
which of these is NOT considered to be an element of an insurance contract? -
correct answer Negotiating
Question 16
What does a 401(k) plan generally provide its participants? - correct answer
Salary-deferral contributions
Question 17
All these statements concerning Settlement Options are true, EXCEPT? - correct
answer Only the beneficiary may select
Question 18
A domestic insurance company in Texas is considered a company that? - correct
answer Is incorporated and formed in Texas
Question 19
Which of the following statements about non-contributory employee group life
insurance is FALSE? - correct answer A minimum number of employees is
required to participate
Question 20
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PREPWISE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.