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XCEL LIFE, HEALTH, & ACCIDENT INSURANCE: Chapter 1 Questions and Answers 100% Correct
XCEL LIFE, HEALTH, & ACCIDENT INSURANCE: Chapter 1 
Questions and Answers 100% Correct 
Role of Insurance - Correct Answer ️️ -To transfer the risk of financial loss from an 
individual or business to an insurance company 
Life Insurance - Correct Answer ️️ -It is designed to protect against the risk of 
premature death. 
Health Insurance - Correct Answer ️️ -It is designed to protect against the severity of 
financial loss due to illness, disease, short- or long-term disability, wag...
- Package deal
- Exam (elaborations)
- • 5 pages •
XCEL LIFE, HEALTH, & ACCIDENT INSURANCE: Chapter 1 
Questions and Answers 100% Correct 
Role of Insurance - Correct Answer ️️ -To transfer the risk of financial loss from an 
individual or business to an insurance company 
Life Insurance - Correct Answer ️️ -It is designed to protect against the risk of 
premature death. 
Health Insurance - Correct Answer ️️ -It is designed to protect against the severity of 
financial loss due to illness, disease, short- or long-term disability, wag...
XCEL solutions Practice Questions and Answers 100% Pass
XCEL solutions Practice Questions and 
Answers 100% Pass 
A partial surrender is allowed in which of the following life policies? - Correct Answer ️️ 
-Universal life 
All of the following riders can increase the death benefit amount EXCEPT - Correct 
Answer ️️ -Waiver of Premium 
A health insurance policy where the insurer has the right to terminate the policy fr 
reasons other than the insureds health is called - Correct Answer ️️ -Conditionally 
Renewable 
A proposed insured for a...
- Package deal
- Exam (elaborations)
- • 15 pages •
XCEL solutions Practice Questions and 
Answers 100% Pass 
A partial surrender is allowed in which of the following life policies? - Correct Answer ️️ 
-Universal life 
All of the following riders can increase the death benefit amount EXCEPT - Correct 
Answer ️️ -Waiver of Premium 
A health insurance policy where the insurer has the right to terminate the policy fr 
reasons other than the insureds health is called - Correct Answer ️️ -Conditionally 
Renewable 
A proposed insured for a...
Xcel Testing Solutions-Louisiana Life and Health Exam Simulator - 200 Questions with 100% Correct solutions
Xcel Testing Solutions-Louisiana Life and 
Health Exam Simulator - 200 Questions 
with 100% Correct solutions 
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 - Correct Answer ️️ -The Accumulation at Interest 
Option - 
invests the policy owner's money and adds interest earnings to the initial amou...
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- Exam (elaborations)
- • 71 pages •
Xcel Testing Solutions-Louisiana Life and 
Health Exam Simulator - 200 Questions 
with 100% Correct solutions 
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 - Correct Answer ️️ -The Accumulation at Interest 
Option - 
invests the policy owner's money and adds interest earnings to the initial amou...
Xcel solutions final exam questions and answers
Xcel solutions final exam questions and answers 
Insuring Which health policy clause specifies the amount of benefits to be paid - 
Correct Answer ️️ -Insuring 
The investment gains from a universal life policy usually go to - Correct Answer ️️ -The 
cash value 
L takes out a life insurance policy and dies 10 years later. During the claim process, the 
insurer finds out that the applicant misstated their age. What will the insurer do? - 
Correct Answer ️️ -Adjust the death benefit to...
- Package deal
- Exam (elaborations)
- • 24 pages •
Xcel solutions final exam questions and answers 
Insuring Which health policy clause specifies the amount of benefits to be paid - 
Correct Answer ️️ -Insuring 
The investment gains from a universal life policy usually go to - Correct Answer ️️ -The 
cash value 
L takes out a life insurance policy and dies 10 years later. During the claim process, the 
insurer finds out that the applicant misstated their age. What will the insurer do? - 
Correct Answer ️️ -Adjust the death benefit to...
Xcel Final Exam Questions and Answers 100% Pass
- Package deal
- Exam (elaborations)
- • 37 pages •
XCEL Final Exam Questions and Answers 100% Pass
XCEL Final Exam Questions and Answers 100% Pass 
What kind of life insurance beneficiary requires his/her consent when a change of 
beneficiary is made? - Correct Answer ️️ -Irrevocable beneficiary 
When can a policy-owner change a revocable beneficiary? - Correct Answer ️️ - 
Anytime 
K has a life insurance policy where her husband is beneficiary and her daughter is 
contingent beneficiary. Under the Common Disaster clause, if K and her husband are 
both killed in an automobile accident...
- Package deal
- Exam (elaborations)
- • 0 pages •
XCEL Final Exam Questions and Answers 100% Pass 
What kind of life insurance beneficiary requires his/her consent when a change of 
beneficiary is made? - Correct Answer ️️ -Irrevocable beneficiary 
When can a policy-owner change a revocable beneficiary? - Correct Answer ️️ - 
Anytime 
K has a life insurance policy where her husband is beneficiary and her daughter is 
contingent beneficiary. Under the Common Disaster clause, if K and her husband are 
both killed in an automobile accident...
XCEL Solutions Practice Exam Questions and Answers
XCEL Solutions Practice Exam 
Questions and Answers 
a nonparticipating company is sometimes called a - Correct Answer ️️ -stock insurer 
Fraternal Benefit Society has each other the following characteristics except - Correct 
Answer ️️ -exist for profit 
The Fair Credit and Reporting Act's main purpose is to - Correct Answer ️️ -protect 
consumers with guidelines regarding credit reporting and distribution 
A life insurance company has transferred some of its risk to another insure...
- Package deal
- Exam (elaborations)
- • 8 pages •
XCEL Solutions Practice Exam 
Questions and Answers 
a nonparticipating company is sometimes called a - Correct Answer ️️ -stock insurer 
Fraternal Benefit Society has each other the following characteristics except - Correct 
Answer ️️ -exist for profit 
The Fair Credit and Reporting Act's main purpose is to - Correct Answer ️️ -protect 
consumers with guidelines regarding credit reporting and distribution 
A life insurance company has transferred some of its risk to another insure...
Xcell Testing Solutions (Life & Health) Final 150 Question Practice Exam Questions and Answers 100% Pass
Xcell Testing Solutions (Life & Health) Final 150 Question 
Practice Exam Questions and Answers 100% Pass 
When can a policy owner change a revocable beneficiary? - Correct Answer ️️ - 
Anytime 
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his 
son as beneficiary. M has the right to change the beneficiary designation at anytime. 
What type of beneficiary is his son? - Correct Answer ️️ -Revocable 
How would a contingent beneficiary receive the policy proceeds...
- Package deal
- Exam (elaborations)
- • 20 pages •
Xcell Testing Solutions (Life & Health) Final 150 Question 
Practice Exam Questions and Answers 100% Pass 
When can a policy owner change a revocable beneficiary? - Correct Answer ️️ - 
Anytime 
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his 
son as beneficiary. M has the right to change the beneficiary designation at anytime. 
What type of beneficiary is his son? - Correct Answer ️️ -Revocable 
How would a contingent beneficiary receive the policy proceeds...
Xcel Solutions Property & Casualty Exam Questions and Answers
Xcel Solutions Property & Casualty 
Exam Questions and Answers 
An earned premium resulting from the cancellation of a policy is calculated on: - Correct 
Answer ️️ -On a pro rata basis, based on the previous year's rate 
M owns a parking garage & has coverage that states: "We will cover losses regardless if 
you are legally liable for the loss." This no-fault ideology will be found under: - Correct 
Answer ️️ -Excess Direct Coverage 
An insurance company writing business in a state o...
- Package deal
- Exam (elaborations)
- • 15 pages •
Xcel Solutions Property & Casualty 
Exam Questions and Answers 
An earned premium resulting from the cancellation of a policy is calculated on: - Correct 
Answer ️️ -On a pro rata basis, based on the previous year's rate 
M owns a parking garage & has coverage that states: "We will cover losses regardless if 
you are legally liable for the loss." This no-fault ideology will be found under: - Correct 
Answer ️️ -Excess Direct Coverage 
An insurance company writing business in a state o...
Xcel Life Insurance Exam Practice Questions and Answers
Xcel Life Insurance Exam Practice 
Questions and Answers 
Replacement regulation is designed to protect - Correct Answer ️️ -Policyowners from 
mirepresentation and loss of benefits 
All Health Benefit Plans issued after January 1, 2014 must provide - Correct Answer ️️ 
-Preventative health services 
Which of these will have the highest monthly payout upon annuitization - Correct 
Answer ️️ -Straight life 
Which of the following is included in the entire contract according ti the ent...
- Package deal
- Exam (elaborations)
- • 17 pages •
Xcel Life Insurance Exam Practice 
Questions and Answers 
Replacement regulation is designed to protect - Correct Answer ️️ -Policyowners from 
mirepresentation and loss of benefits 
All Health Benefit Plans issued after January 1, 2014 must provide - Correct Answer ️️ 
-Preventative health services 
Which of these will have the highest monthly payout upon annuitization - Correct 
Answer ️️ -Straight life 
Which of the following is included in the entire contract according ti the ent...
Peer Support Specialist Certification
Fdny A35 Exam Questions and Answers 100% Pass
Relias Dysrhythmia Basic A Exam Questions and Answers
Life Insurance Colorado Exam Questions and Answers 100% Pass
CAP Mitchell Award Learn to lead Volume 2 Study Set Questions and Answers 100% Correct