XCEL FINAL EXAM CALIFORNIA
LIFE INSURANCE EXAM
QUESTIONS & VERIFIED
ANSWERS | LATEST ALREADY
GRADED A+ UPDATE 2026!!
STUDY GUIDE EXAM
Replacement regulation is designed to protect - answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - answer-Preventative
health services
Which of these will have the highest monthly payout upon annuitization - answer-
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - answer-Clauses
Which of the following is considered to be an alternative to a life settlement? - answer-
Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - answer-Benefits are
limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
answer-Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - answer-Human life value approach
,Which of the following policies does NOT build cash value? - answer-Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - answer-Human life value
The free look period provided in a life insurance policy is usually - answer-10 days
What does "SHOP" stand in SHOP Exchange? - answer-Small Business Health Options
Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - answer-master policy
Which of the following is NOT covered under Workers' Compensation? - answer-Pain
and suffering
Which of the following provides Medicare supplement policies? - answer-Private
insurance companies
A life settlement intermediary is a(n) - answer-association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement
contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - answer-Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement
policy for an applicant. - answer-Agent
, The purpose of the Coordination of Benefits provision in group accident and health
plans is to - answer-avoid overpayment of claims
Medicaid is intended for - answer-poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - answer-collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
answer-10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - answer-twisting
Which type of annuity stops all payments upon the death of the annuitant? - answer-Life
annuity
Decreasing term life insurance is often used to - answer-provide coverage for a home
mortgage
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 EXAM
QUESTIONS & VERIFIED
ANSWERS | LATEST ALREADY
GRADED A+ UPDATE 2026!!
STUDY GUIDE EXAM
Replacement regulation is designed to protect - answer-Policyowners from
mirepresentation and loss of benefits
All Health Benefit Plans issued after January 1, 2014 must provide - answer-Preventative
health services
Which of these will have the highest monthly payout upon annuitization - answer-
Straight life
Which of the following is included in the entire contract according ti the entire contract
provison? - answer-Clauses
Which of the following is considered to be an alternative to a life settlement? - answer-
Accelered death benefit rider
With a scheduled dental policy, how are covered expense paid? - answer-Benefits are
limited to a specific maximum dollar amount per procedure
Coordination of benefits regulation applies to all of the following plans EXCEPT -
answer-Preferred provider Organization plan
Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents? - answer-Human life value approach
,Which of the following policies does NOT build cash value? - answer-Term
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death? - answer-Human life value
The free look period provided in a life insurance policy is usually - answer-10 days
What does "SHOP" stand in SHOP Exchange? - answer-Small Business Health Options
Program
An employer is issued a group medical insurance policy. This single contract is known
as a(n) - answer-master policy
Which of the following is NOT covered under Workers' Compensation? - answer-Pain
and suffering
Which of the following provides Medicare supplement policies? - answer-Private
insurance companies
A life settlement intermediary is a(n) - answer-association which maintains a facility
that displays offers and counteroffers for purchasers or sellers of life settlement
contracts
An annuitant dies during the distribution period. What kind of annunity will return to a
beneficiary the difference between the annunity value and the income payment already
made? - answer-Refund annuity
The is responsible for determining the appropriateness of a Medicare Supplement
policy for an applicant. - answer-Agent
, The purpose of the Coordination of Benefits provision in group accident and health
plans is to - answer-avoid overpayment of claims
Medicaid is intended for - answer-poverty stricken people
A provision that allows a policyowner to temporarily give up ownership rights to secure a
loan is called a(n) - answer-collateral assignment
A disability policy where the premiums are due monthly require a grace period of -
answer-10 days
Tom the agent replaced a client's insurance policy when it was not in the client's best
interest. Tom could be found guilty of - answer-twisting
Which type of annuity stops all payments upon the death of the annuitant? - answer-Life
annuity
Decreasing term life insurance is often used to - answer-provide coverage for a home
mortgage
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
