1|Page
XCEL LIFE INSURANCE INDIANA FINAL EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What does the insuring agreement in a Life insurance contract
establish ? - ANSWER-An insurer's basic promise
What is the basic function of an annuity ? - ANSWER-The
systematic liquidation of accumulated funds
In Indiana , what is the maximum percentage of controlled
business a producer may write in a twelve month period ? -
ANSWER-25 %
Which of the following types of permanent life insurance
policies offers the highest initial cash value ? - ANSWER-Single
premium
,2|Page
Which of the following is NOT a situation that involves life
insurance policy replacement ? - ANSWER-Converting a term
policy to a permanent policy with the same insurer
Producers must complete ______ hours of continuing education
every two years to keep their license active . - ANSWER-24
that lead to the termination of an existing insurance policy so
that a new policy with another insurer A producer who makes
misleading statements can be taken out has committed : -
ANSWER-twisting
What year was the McCarran - Ferguson Act enacted ? -
ANSWER-1945
The Life and Health Insurance Guaranty Association is : -
ANSWER-funded by admitted insurance companies through
assessments
Taking receipt of premiums and holding them for the insurance
company is an example of : - ANSWER-Fiduciary responsibility
, 3|Page
Indiana's 10 - day free - look period for life insurance policies
begins on the : - ANSWER-date of delivery
An individual who purchases a Life annuity is given protection
against : - ANSWER-the risk of living longer than expected
What benefit does the Payor clause on a Juvenile Life policy
provide ? - ANSWER-Premiums are waived if payor becomes
disabled
A policy of adhesion can only be modified by whom ? -
ANSWER-The insurance company
A producer inducing an insured to lapse , forfeit , or surrender
insurance through misrepresentation is committing the illegal act
of : - ANSWER-twisting
Select the appropriate The part of a life insurance policy
guaranteed to be true is called a ( n ) : - ANSWER-warranty
Variable Life products require a producer to - ANSWER-hold a
Life Insurance license and a Securities license
XCEL LIFE INSURANCE INDIANA FINAL EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
What does the insuring agreement in a Life insurance contract
establish ? - ANSWER-An insurer's basic promise
What is the basic function of an annuity ? - ANSWER-The
systematic liquidation of accumulated funds
In Indiana , what is the maximum percentage of controlled
business a producer may write in a twelve month period ? -
ANSWER-25 %
Which of the following types of permanent life insurance
policies offers the highest initial cash value ? - ANSWER-Single
premium
,2|Page
Which of the following is NOT a situation that involves life
insurance policy replacement ? - ANSWER-Converting a term
policy to a permanent policy with the same insurer
Producers must complete ______ hours of continuing education
every two years to keep their license active . - ANSWER-24
that lead to the termination of an existing insurance policy so
that a new policy with another insurer A producer who makes
misleading statements can be taken out has committed : -
ANSWER-twisting
What year was the McCarran - Ferguson Act enacted ? -
ANSWER-1945
The Life and Health Insurance Guaranty Association is : -
ANSWER-funded by admitted insurance companies through
assessments
Taking receipt of premiums and holding them for the insurance
company is an example of : - ANSWER-Fiduciary responsibility
, 3|Page
Indiana's 10 - day free - look period for life insurance policies
begins on the : - ANSWER-date of delivery
An individual who purchases a Life annuity is given protection
against : - ANSWER-the risk of living longer than expected
What benefit does the Payor clause on a Juvenile Life policy
provide ? - ANSWER-Premiums are waived if payor becomes
disabled
A policy of adhesion can only be modified by whom ? -
ANSWER-The insurance company
A producer inducing an insured to lapse , forfeit , or surrender
insurance through misrepresentation is committing the illegal act
of : - ANSWER-twisting
Select the appropriate The part of a life insurance policy
guaranteed to be true is called a ( n ) : - ANSWER-warranty
Variable Life products require a producer to - ANSWER-hold a
Life Insurance license and a Securities license
