Xcel solutions exam 1 - Study guides, Class notes & Summaries

Xcel solutions life insurance Exam with Verified Answers Graded A+ 1. What does the Group Life underwriting risk selection process help protect insurance companies from? 2. All of the following are exempt from the 10% tax penalty for early qualified plan withdrawals EXCEPT 3. Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she pur- chase that is designed to pay off the loan balance if she dies within the 30-year period? 4. Sharon is the policyown...

Insurance license practice XCEL solutions Exam -1 basic principles

XCEL SOLUTIONS CHAPTER 1 - BASIC PRINCIPLES EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ A nonprofit incorporated society that does not have capital stock and operates for the sole benefits of its members is known as: Correct Answer: A fraternal benefit society Who elects the governing body of a mutual insurance company? Correct Answer: Policyholder Which of these discribe a participating insurance policy? Correct Answer: Policy owners are entitled to recieve ...

Xcel Solutions IN Life Insurance Final Exam with Verified Answers 1. P is a producer who is licensed in Indiana , but a resident of Michigan . In Indiana , P is considered to be a ( n ) producer . 2. Why would the Insurance Commissioner issue a tem- porary license ? 3. Which provision is NOT a requirement in a group life policy ? 4. A ( n ) beneficiary may be changed by the policyowner WITHOUT the consent of the beneficiary . 5. Which of the following provides funding for the Indi- a...

Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Practice Questions and 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...

XCEL TESTING SOLUTIONS – LIFE & HEALTH INSURANCE WEIGHTED EXAM WITH 100% CORRECT QUESTIONS AND ANSWERS 2024. 2 / 16 1. The Do Not Call Registry offers exemptions for calls placed from all of thefollowing EXCEPT: insurance sales calls Charities, political organizations, and surveys are all offered exemptions fromTheDo Not Call Registry 2. The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called: cance...

XCEL Solutions practice Exam Simulator Questions and Answers Graded A+ Which of the following statements is CORRECT regarding the tax treatment of a lump- sum payment paid to a life insurance policy's primary beneficiary? - Correct Answer ️️ -All proceeds are income tax free in the year they are received. A(n) _____ insurance company is one formed in a country other than the United States. - Correct Answer ️️ -Alien Term insurance has which of the following characteristics? - Cor...