XCEL LIFE INSURANCE INDIANA
FINAL EXAM NEWEST 2025
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
// BRAND NEW!!
K pays on a $ 20,000 20 - Year Endowment policy for
10 years and dies from an automobile accident How
much will the insurance company pay the beneficiary
? - ....ANSWER...$ 20,000 death benefit
On August 6 , D submitted an application for a $
50,000 Life Insurance policy and did not pay the
initial premium . On August 18 , D went to his doctor
complaining of chest pains and some tests were
given by the doctor The life policy was delivered by
the producer on August 20 and D explains what had
recently taken place with the doctor . What action
should the producer then take ? -
,....ANSWER...Collect initial premium and leave a
binding receipt
What does a Face Amount Plus Cash Value Policy
pay upon the insured's death ? - ....ANSWER...Face
amount plus the policy's cash value
An insurance applicant MUST be informed of an
investigation regarding his / her reputation and
character according to the : - ....ANSWER...Fair Credit
Reporting Act
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
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
FINAL EXAM NEWEST 2025
ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
// BRAND NEW!!
K pays on a $ 20,000 20 - Year Endowment policy for
10 years and dies from an automobile accident How
much will the insurance company pay the beneficiary
? - ....ANSWER...$ 20,000 death benefit
On August 6 , D submitted an application for a $
50,000 Life Insurance policy and did not pay the
initial premium . On August 18 , D went to his doctor
complaining of chest pains and some tests were
given by the doctor The life policy was delivered by
the producer on August 20 and D explains what had
recently taken place with the doctor . What action
should the producer then take ? -
,....ANSWER...Collect initial premium and leave a
binding receipt
What does a Face Amount Plus Cash Value Policy
pay upon the insured's death ? - ....ANSWER...Face
amount plus the policy's cash value
An insurance applicant MUST be informed of an
investigation regarding his / her reputation and
character according to the : - ....ANSWER...Fair Credit
Reporting Act
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
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
