Xcel solutions Final Exam Questions With Verified Answers 2024|2025

Xcel solutions Final Exam Questions With Verified Answers 2024|2025 Insuring Which health policy clause specifies the amount of benefits to be paid Correct Answer Insuring The investment gains from a universal life policy usually go to Correct Answer The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? Correct Answer Adjust the death benefit to a reduced amount An employee is covered under a company group life plan with a $50,000 death benefit. What is the Maximum amount a spouse may be insured for under this program Correct Answer $25,000 M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M. What determines the claim M is eligible for Correct Answer Determined by the terms of the policy A(n)__-_-_-_-_-_-_-_ beneficiary may be changed by the policy owner without the consent of the beneficiary Correct Answer Revocable What is the MINIMUM benefit period that must be offered by a long term care policy Correct Answer 12 months To terminate an agent's appointment, an insurance company must Correct Answer Send termination notice to the Texas Department of Insurance An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium. When will the policy become effective? Correct Answer When the conditions of the receipt are met Which of the following costs would a Basic Hospital/Surgical policy cover? Correct Answer Surgically removing a facial birthmark Which of the following statements is CORRECT about an agent who is taking an insurance application Correct Answer The agent should have the applicant initial any changes made on the application Which statement is true about a whole life policy Correct Answer Cash value may be