Xcel chapter 3 exam - Study guides, Class notes & Summaries

XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ 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? Correct Answer: 20-pay life accumulates cash value faster than straight life D owns a whole life policy that was purchased 10 years ago. If the premium paym...

Chapter 3 (215) XCEL Final Exam Prediction Questions & Answers. Which type of policy is considered to be overfunded, as stated by IRS guidelines? - CORRECT ANSWER The correct answer is "Modified Endowment Contract". A policy that is overfunded to where it does not meet the 7-pay test is considered a Modified Endowment Contract. A(n) _______ _______ Life policy combines investment choices with a form of Term coverage - CORRECT ANSWER The correct answer is "Variable Universal". Variable Un...

XCEL CHAPTER 7 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ When does a life insurance policy typically become effective? A. When the policy is issued B. When initial premium is collected and policy is issued C. When the application is completed and signed D. When the completed application is signed and initial premium is collected When initial premium is collected and policy is issued What is the purpose of the Medical Information Bureau (MIB)? A. To accept or decline i...

XCEL SOLUTIONS CHAPTER 3 - POLICY PROVISIONS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ 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? Correct Answer: 20-pay life accumulates cash value faster than straight life D owns a whole life policy that was purchased 10 years ago. If the premium paym...

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? Correct Answer: 20-pay life accumulates cash value faster than straight life D owns a whole life policy that was purchased 10 years ago. If the premium payment suddenly stop and D takes no additional action, which nonforfeiture option will be insurer likely proceed with?...

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? Correct Answer: 20-pay life accumulates cash value faster than straight life D owns a whole life policy that was purchased 10 years ago. If the premium payment suddenly stop and D takes no additional action, which nonforfeiture option will be insurer likely proceed with?...

XCEL Chapter 11 Chapter Exam 1. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Afterwards, she deposited the check into a personal checking account. Maria committed what crime? ️ Fraud 2. Making a statement that is false and maliciously critical of the financial condition of the insurer is known as: ️ Defamation 3. Which of the following statements is true about an insurer's right ...

XCEL CHAPTER 1 EXAM REVIEW | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Stock insurer Correct Answer: A non-participating company is also called Insurance policy Correct Answer: Contract that involves one party which indemnifies another when a loss arises from an unknown event Mutual Correct Answer: A type of insurer that is owned by its policy owners is called Because dividends are considered to be a return of premium Correct Answer: Why are dividends from a mutua...

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CGS Excel Chapter 3 Exam Questions With Correct Answers What type of chart is the least appropriate for depicting yearly rainfall totals for five cities for four years? (a. Pie chart) (b. Line chart) (c. Column chart) (d. Bar chart) - answera. Pie chart Look at the stacked bar chart in figure 3.35. Which of the following is a category on the category axis? (a Thousands) (b. Job Titles) (c. CIS Managers) (d. 700) - answerc. CIS Managers Which of the following is not a type of sparkl...