XCEL LIFE INSURANCE COMPREHENSIVE
EXAMINATION TEST 2026 FULL QUESTIONS
AND CORRECT ANSWERS
◉What does a life insurance policy guarantee to the stated
beneficiary upon the death of the insured?. Answer: Specified
amount of money
◉Major medical insurance will typically cover medical expenses that
result from. Answer: a negative reaction to prescribed medication
◉The typical long-term care insurance policy is designed to provide
a minimum of__________ year(s) of coverage. Answer: 1
◉The double indemnity provision in a life insurance policy pertains
to an insured's death caused by a(n). Answer: accident
◉Life insurance policies will normally pay for losses arising from.
Answer: commercial aviation
,◉The coverage, conditions, and limitations in the master policy of a
group contract can be found in which document?. Answer:
Certificate of coverage and benefits
◉Which type of long-term care benefit would be most appropriate
for a stroke victim who requires speech therapy administered at her
home?. Answer: Home health care
◉A disability policyowner is injured and becomes totally disabled.
The benefits pay for 2 years, starting from the date of the injury.
What is this time period called?. Answer: Benefit period
◉Under the Affordable Care Act, how would a grandfathered health
plan lose its grandfathered status?. Answer: The insurer significantly
raises co-insurance charges, deductibles, or co-payment charges
◉Which of these statements about Medicaid is CORRECT?. Answer:
Funded by federal, state, and local taxes
◉In group health care, what is the purpose of the coordination of
benefits provision?. Answer: Determines what is paid by the primary
and secondary insurers in the event of a claim
◉Which of the following is NOT a duty of the Superintendent?.
Answer: Establish rates for the insurers
, ◉What is the purpose of a Disability Income Benefit?. Answer:
Provide money for living expenses
◉All of these are characteristics of a universal life insurance policy
EXCEPT. Answer: Fixed surrender value
◉Upon meeting company requirements, a lapsed life insurance
policy may be reinstated within_______ year(s).. Answer: 3
◉with the same insurer Tim is covered under a group plan and
would like to change his group coverage to an individual policy
because of employment termination. Which of these describes the
change that will take place?. Answer: Conversion
◉When are group disability benefits considered to be tax-free to the
insured?. Answer: When the recipient pays the premiums
◉Under the Affordable Care Act, which of these plans is designed to
provide coverage that is actuarially equivalent to 80% of the full
actuarial value of the benefits provided under the plan?. Answer:
Gold
◉An insurance producer is often responsible for field underwriting
during the application process. All of these are possible field
EXAMINATION TEST 2026 FULL QUESTIONS
AND CORRECT ANSWERS
◉What does a life insurance policy guarantee to the stated
beneficiary upon the death of the insured?. Answer: Specified
amount of money
◉Major medical insurance will typically cover medical expenses that
result from. Answer: a negative reaction to prescribed medication
◉The typical long-term care insurance policy is designed to provide
a minimum of__________ year(s) of coverage. Answer: 1
◉The double indemnity provision in a life insurance policy pertains
to an insured's death caused by a(n). Answer: accident
◉Life insurance policies will normally pay for losses arising from.
Answer: commercial aviation
,◉The coverage, conditions, and limitations in the master policy of a
group contract can be found in which document?. Answer:
Certificate of coverage and benefits
◉Which type of long-term care benefit would be most appropriate
for a stroke victim who requires speech therapy administered at her
home?. Answer: Home health care
◉A disability policyowner is injured and becomes totally disabled.
The benefits pay for 2 years, starting from the date of the injury.
What is this time period called?. Answer: Benefit period
◉Under the Affordable Care Act, how would a grandfathered health
plan lose its grandfathered status?. Answer: The insurer significantly
raises co-insurance charges, deductibles, or co-payment charges
◉Which of these statements about Medicaid is CORRECT?. Answer:
Funded by federal, state, and local taxes
◉In group health care, what is the purpose of the coordination of
benefits provision?. Answer: Determines what is paid by the primary
and secondary insurers in the event of a claim
◉Which of the following is NOT a duty of the Superintendent?.
Answer: Establish rates for the insurers
, ◉What is the purpose of a Disability Income Benefit?. Answer:
Provide money for living expenses
◉All of these are characteristics of a universal life insurance policy
EXCEPT. Answer: Fixed surrender value
◉Upon meeting company requirements, a lapsed life insurance
policy may be reinstated within_______ year(s).. Answer: 3
◉with the same insurer Tim is covered under a group plan and
would like to change his group coverage to an individual policy
because of employment termination. Which of these describes the
change that will take place?. Answer: Conversion
◉When are group disability benefits considered to be tax-free to the
insured?. Answer: When the recipient pays the premiums
◉Under the Affordable Care Act, which of these plans is designed to
provide coverage that is actuarially equivalent to 80% of the full
actuarial value of the benefits provided under the plan?. Answer:
Gold
◉An insurance producer is often responsible for field underwriting
during the application process. All of these are possible field
