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XCEL Final Exam California Life Insurance Exam 2026
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
ACCURATE ANSWERS|| VERIFIED EXAM!! (VERIFIED
ANSWERS) | ALREADY PASSED!! NEWEST EXAM |
NEWEST EXAM!!!!
A savings vehicle designed to first accumulate funds and
then systematically liquidates the funds is called a(n) -
Answers-Deferred Annuity
Cindy buys a 10-year certain annuity with an installment
refund. After receiving monthly payments for 5 years,
Cindy dies. How many remaining payments will the insurer
make to her beneficiary? - Answers-60 Payments
What distinguishes a deferred annuity from an immediate
annuity? - Answers-The time at which benefit payments
start
The systematic liquidation of a sum of money is provided
by a(n) - Answers-Annuity
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What kind of annuity pays income to two annuitants until
their deaths? - Answers-Joint And Survivor Annuity
Which of the following is NOT a feature of equity-indexed
annuities? - Answers-Offers a maximum interest rate that
increases annually
An annuitant would like to determine the amount of an
annuity distribution that is exempt from taxation. What is
used to calculate this? - Answers-Exclusion Ratio
An annuity which is backed by a life insurer's separate
account is called a(n) - Answers-Variable Annuity
Which of the following is a contract that involves one party
which indemnifies another when a loss arises from an
unknown event? - Answers-Insurance Policy
Which of the following is NOT a benefit of insurance? -
Answers-Losses due to fraud are eliminated
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What is a participating life insurance policy? - Answers-
Contract that allows the policyowner to receive a share of
surplus in the form of policy dividends
Which of the following is an insurer established by a
parent company for the purpose of insuring the parent
company's loss exposures? - Answers-Captive Insurer
Which of the following is NOT a characteristic of
reinsurance? - Answers-Increases the unearned premium
reserve
Which of the following is a type of insurance where an
insurer transfers loss exposures from policies written for
its insureds? - Answers-Reinsurance
An insurer owned by its policyholders is called a -
Answers-Mutual Insurer
Which of the following contracts is defined as "one that
restores an injured party to the condition that was present
before the loss"? - Answers-Indemnity Contract
XCEL Final Exam California Life Insurance Exam 2026
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
ACCURATE ANSWERS|| VERIFIED EXAM!! (VERIFIED
ANSWERS) | ALREADY PASSED!! NEWEST EXAM |
NEWEST EXAM!!!!
A savings vehicle designed to first accumulate funds and
then systematically liquidates the funds is called a(n) -
Answers-Deferred Annuity
Cindy buys a 10-year certain annuity with an installment
refund. After receiving monthly payments for 5 years,
Cindy dies. How many remaining payments will the insurer
make to her beneficiary? - Answers-60 Payments
What distinguishes a deferred annuity from an immediate
annuity? - Answers-The time at which benefit payments
start
The systematic liquidation of a sum of money is provided
by a(n) - Answers-Annuity
,2|Page
What kind of annuity pays income to two annuitants until
their deaths? - Answers-Joint And Survivor Annuity
Which of the following is NOT a feature of equity-indexed
annuities? - Answers-Offers a maximum interest rate that
increases annually
An annuitant would like to determine the amount of an
annuity distribution that is exempt from taxation. What is
used to calculate this? - Answers-Exclusion Ratio
An annuity which is backed by a life insurer's separate
account is called a(n) - Answers-Variable Annuity
Which of the following is a contract that involves one party
which indemnifies another when a loss arises from an
unknown event? - Answers-Insurance Policy
Which of the following is NOT a benefit of insurance? -
Answers-Losses due to fraud are eliminated
, 3|Page
What is a participating life insurance policy? - Answers-
Contract that allows the policyowner to receive a share of
surplus in the form of policy dividends
Which of the following is an insurer established by a
parent company for the purpose of insuring the parent
company's loss exposures? - Answers-Captive Insurer
Which of the following is NOT a characteristic of
reinsurance? - Answers-Increases the unearned premium
reserve
Which of the following is a type of insurance where an
insurer transfers loss exposures from policies written for
its insureds? - Answers-Reinsurance
An insurer owned by its policyholders is called a -
Answers-Mutual Insurer
Which of the following contracts is defined as "one that
restores an injured party to the condition that was present
before the loss"? - Answers-Indemnity Contract
