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XCELL TESTING SOLUTIONS (LIFE & HEALTH) FINAL 150 QUESTION PRACTICE EXAM QUESTIONS WITH COMPLETE SOLUTION 2025 $12.49
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XCELL TESTING SOLUTIONS (LIFE & HEALTH) FINAL 150 QUESTION PRACTICE EXAM QUESTIONS WITH COMPLETE SOLUTION 2025

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  • NR509
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  • NR509

XCELL TESTING SOLUTIONS (LIFE & HEALTH) FINAL 150 QUESTION PRACTICE EXAM QUESTIONS WITH COMPLETE SOLUTION 2025

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  • November 19, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • xcell testing solutions life health final 150

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  • NR509
  • NR509

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XCELL TESTING SOLUTIONS (LIFE &
HEALTH) FINAL 150 QUESTION
PRACTICE EXAM QUESTIONS WITH
COMPLETE SOLUTION 2025
WhenBcanBaBpolicyBownerBchangeBaBrevocableBbeneficiary?B-BcorrectBanswer-Anytime



MBpurchasedBanBAccidentalBDeathBandBDismembermentB(AD&D)BpolicyBandBnamedBhisBsonBasBbeneficiary
.BMBhasBtheBrightBtoBchangeBtheBbeneficiaryBdesignationBatBanytime.BWhatBtypeBofBbeneficiaryBisBhisBson?B-
BcorrectBanswer-Revocable




HowBwouldBaBcontingentBbeneficiaryBreceiveBtheBpolicyBproceedsBinBanBAccidentalBDeathBandBDismember
mentB(AD&D)Bpolicy?B-BcorrectBanswer-IfBtheBprimaryBbeneficiaryBdiesBbeforeBtheBinsured



WhatBisBtheBunderlyingBconceptBregardingBlevelBpremiums?B-BcorrectBanswer-
TheBearlyByearsBareBchargedBlessBthanBwhatBisBneeded



ABpolicyBownerBisBableBtoBchooseBtheBfrequencyBofBpremiumBpaymentsBthroughBwhatBpolicyBfeature?B-
BcorrectBanswer-PremiumBMode




AnyBchangesBmadeBonBanBinsuranceBapplicationBrequiresBtheBinitialsBofBwhom?B-BcorrectBanswer-Applicant



AllBofBtheseBareBconsideredBsourcesBofBunderwritingBinformationBaboutBanBapplicantBEXCEPTB-
BcorrectBanswer-RatingBServices




QBappliedBforBlifeBinsuranceBandBsubmittedBtheBinitialBpremiumBonBJanuaryB1.BTheBpolicyBwasBissuedBFebru
aryB1,BbutBitBwasBnotBdeliveredBbyBtheBagentBuntilBFebruaryB7.BQBisBdissatisfiedBandBreturnsBtheBpolicyBFebr
uaryB13.BHowBwillBtheBinsurerBhandleBthisBsituation?B-BcorrectBanswer-
PolicyBwasBreturnedBwithinBtheBfree-lookBperiod,BpremiumBwillBbeBfullyBrefunded



MBcompletesBanBapplicationBforBlifeBinsuranceBbutBdoesBnotBpayBtheBinitialBpremium.BAllBofBtheseBactionsB
mustBoccurBbeforeBM'sBpolicyBgoesBintoBeffectBEXCEPTB-BcorrectBanswer-free-lookBperiodBhasBexpired

,WhatBactionBshouldBaBproducerBtakeBifBtheBinitialBpremiumBisBNOTBsubmittedBwithBtheBapplication?B-
BcorrectBanswer-ForwardBtheBapplicationBtoBtheBinsurerBwithoutBtheBinitialBpremium




WhichBofBtheBfollowingBisBanBimportantBunderwritingBprincipleBofBgroupBlifeBinsurance?B-BcorrectBanswer-
EveryoneBmustBbeBcoveredBinBtheBgroup



WhichBrequirementBmustBbeBmetBforBanBassociationBtoBbeBeligibleBforBaBgroupBlifeBplan?B-BcorrectBanswer-
GroupBwasBformedBforBaBpurposeBotherBthanBacquiringBinsurance



WhenBanBemployeeBisBterminated,BwhichBstatementBaboutBaBgroupBtermBlifeBconversionBisBtrue?B-
BcorrectBanswer-PolicyBproceedsBwillBbeBpaidBifBtheBemployeeBdiesBduringBtheBconversionBperiod




UnderBaBtrusteeBgroupBlifeBpolicy,BwhoBwouldBbeBeligibleBforBaBcertificateBofBcoverage?B-BcorrectBanswer-
Corporation



N,BageB50,BrecentlyBboughtBanBannuityBthatBwillBpayBaBguaranteedB$2,000/monthBatBageB70BforBlife.BWhatBt
ypeBofBannuityBdidBNBpurchase?B-BcorrectBanswer-FixedBDeferred



SBrecentlyBreceivedBaB$500,000BlumpBsumBretirementBbuyoutBfromBherBemployer.BSheBwouldBlikeBtoBbuyBa
nBannuityBthatBwillBimmediatelyBfurnishBherBwithBaBguaranteedBincomeBforBlife.BWhatBtypeBofBannuityBisBbe
stBsuitedBforBherBsituation?B-BcorrectBanswer-SingleBPremium



WhichBofBtheseBisBanBelementBofBaBSingleBPremiumBannuity?B-BcorrectBanswer-Lump-sumBpayment



WhichBofBtheseBstatementsBconcerningBanBIndividualBStraightBLifeBannuityBisBaccurate?B-BcorrectBanswer-
PaymentsBareBmadeBtoBanBannuitantBforBlife



AnBindividualBwhoBpurchasesBaBLifeBannuityBisBgivenBprotectionBagainstB-BcorrectBanswer-
theBriskBofBlivingBlongerBthanBexpected



AnBimmediateBannuityBconsistsBofBaB-BcorrectBanswer-singleBpremium

, AllBofBtheseBareBconsideredBtoBbeBaBbenefitBunderBSocialBSecurityBEXCEPTBforB-BcorrectBanswer-
unemployment



WhichBproductBwouldBbestBserveBaBretiredBindividualBlookingBtoBinvestBaBlump-
sumBofBmoneyBthroughBanBinsuranceBcompany?B-BcorrectBanswer-Annuity



WhichBstatementBregardingBthird-partyBownershipBofBaBlifeBinsuranceBpolicyBisBtrue?B-BcorrectBanswer-
ItBisBusedBextensivelyBinBestate-planningBasBwellBasBbusinessBcircumstances



CompanyBZBhasBaBCrossBPurchaseBBuy-
SellBAgreementBinBplaceBamongBitsBthreeBfoundingBpartners.BIfBtheBagreementBisBfundedBwithBindividualBlif
eBinsurance,BwhatBwouldBitBrequire?B-BcorrectBanswer-
EachBpartnerBmustBownBaBpolicyBonBtheBotherBpartners



WhoBelectsBtheBgoverningBbodyBofBaBmutualBinsuranceBcompany?B-BcorrectBanswer-policyholders



WhenBdoesBaBGuaranteedBInsurabilityBRiderBallowBtheBinsuredBtoBbuyBadditionalBcoverage?B-
BcorrectBanswer-atBfutureBdatesBspecifiedBinBtheBcontractBwithBnoBevidenceBofBinsurabilityBrequired




SBwouldBlikeBtoBuseBdividendsBfromBherBlifeBinsuranceBpolicyBtoBpurchaseBpaid-
upBadditions.BAllBofBtheseBwouldBbeBfactorsBthatBdetermineBhowBmuchBcoverageBcanBbeBpurchasedBEXCEP
TB-BcorrectBanswer-beneficiary'sBage



MBhasBanBinsuranceBpolicyBthatBalsoBhasBanBoutstandingBpolicyBloanBatBtheBtimeBofBM'sBdeath.BTheBinsurerB
willBdeductBtheBoutstandingBloanBbalanceBfromBtheB-BcorrectBanswer-policyBproceeds



WhatBisBtheBSuicideBprovisionBdesignedBtoBdo?B-BcorrectBanswer-
safeguardBtheBinsurerBfromBanBapplicantBwhoBisBcontemplatingBsuicide



WhatBprovisionBinBaBlifeBinsuranceBpolicyBstatesBthatBtheBapplicationBisBconsideredBpartBofBtheBcontract?B-
BcorrectBanswer-EntireBContractBprovision

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