XCEL LIFE INSURANCE
INDIANA FINAL EXAM 2025
WITH CORRECT VERIFIED
ANSWERS GUARANTEED A+
M Has An Insurance Policy That Also Has An Outstanding Policy
Loan At The Time Of M's Death. The Insurer Will Deduct The
Outstanding Loan Balance From The: - ✔✔✔ Correct Answer >
Policy Proceeds
The Stated Amount Or Percent Of Liquid Assets That An Insurer
Must Have On Hand That Will Satisfy Future Obligations To Its
Policyholders Is Called:
- ✔✔✔ Correct Answer > Reserves
A Nonprofit Incorporated Society That Does Not Have Capital
,Stock And Operates For The Sole Benefit Of Its Members Is Known
As: - ✔✔✔ Correct Answer > Fraternal Benefit Society
A Provision In A Life Insurance Policy That Pays The Policyowner
An Amount That Does Surpass The Guaranteed Cash Value Is
Called The: - ✔✔✔ Correct Answer > Policy Loan Provision
Which Life Insurance Rider Typically Appears On A Juvenile Life
Insurance Policy? - ✔✔✔ Correct Answer > Payor Benefits Rider
At What Point Must A Life Insurance Applicant Be Informed Of
Their Rights That Fall Under The Fair Credit Reporting Act - ✔✔✔
Correct Answer > Upon Completion Of The Application
Who Elects The Governing Body Of A Mutual Insurance Company?
,-
✔✔✔ Correct Answer > Policyholders
Which Of These Describes E A Participating Insurance Policy? -
✔✔✔ Correct Answer > Policyowners Are Entitled To Receive
Dividends
Dividends Payable To A Policy Owner Are: - ✔✔✔ Correct Answer
> Declared By The Insurance Company
What Types Of Reinsurance Contract Involves Two Companies
Automatically Sharing Their Risk Exposure - ✔✔✔ Correct Answer
> Treaty
Which Of The Following Consists Of An Offer, Acceptance And
Consideration? - ✔✔✔ Correct Answer > Contract
, The Part Of A Life Insurance Policy Guaranteed To Be True Is Called
A: -
✔✔✔ Correct Answer > Warranty
Who Makes The Legally Enforceable Promises In A Unilateral
Insurance Policy? - ✔✔✔ Correct Answer > Insurance Company
Which Of These Is Not A Type Of Agent Authority? - ✔✔✔
Correct Answer > Principal
In An Insurance Contract, The Insurer Is The Only Party Who
Makes A Legally Enforceable Promise. What Kind Of Contract
Is This? - ✔✔✔ Correct Answer > Unilateral
Insurance Policies Are Considered Aleatory Contracts Because -
✔✔✔
INDIANA FINAL EXAM 2025
WITH CORRECT VERIFIED
ANSWERS GUARANTEED A+
M Has An Insurance Policy That Also Has An Outstanding Policy
Loan At The Time Of M's Death. The Insurer Will Deduct The
Outstanding Loan Balance From The: - ✔✔✔ Correct Answer >
Policy Proceeds
The Stated Amount Or Percent Of Liquid Assets That An Insurer
Must Have On Hand That Will Satisfy Future Obligations To Its
Policyholders Is Called:
- ✔✔✔ Correct Answer > Reserves
A Nonprofit Incorporated Society That Does Not Have Capital
,Stock And Operates For The Sole Benefit Of Its Members Is Known
As: - ✔✔✔ Correct Answer > Fraternal Benefit Society
A Provision In A Life Insurance Policy That Pays The Policyowner
An Amount That Does Surpass The Guaranteed Cash Value Is
Called The: - ✔✔✔ Correct Answer > Policy Loan Provision
Which Life Insurance Rider Typically Appears On A Juvenile Life
Insurance Policy? - ✔✔✔ Correct Answer > Payor Benefits Rider
At What Point Must A Life Insurance Applicant Be Informed Of
Their Rights That Fall Under The Fair Credit Reporting Act - ✔✔✔
Correct Answer > Upon Completion Of The Application
Who Elects The Governing Body Of A Mutual Insurance Company?
,-
✔✔✔ Correct Answer > Policyholders
Which Of These Describes E A Participating Insurance Policy? -
✔✔✔ Correct Answer > Policyowners Are Entitled To Receive
Dividends
Dividends Payable To A Policy Owner Are: - ✔✔✔ Correct Answer
> Declared By The Insurance Company
What Types Of Reinsurance Contract Involves Two Companies
Automatically Sharing Their Risk Exposure - ✔✔✔ Correct Answer
> Treaty
Which Of The Following Consists Of An Offer, Acceptance And
Consideration? - ✔✔✔ Correct Answer > Contract
, The Part Of A Life Insurance Policy Guaranteed To Be True Is Called
A: -
✔✔✔ Correct Answer > Warranty
Who Makes The Legally Enforceable Promises In A Unilateral
Insurance Policy? - ✔✔✔ Correct Answer > Insurance Company
Which Of These Is Not A Type Of Agent Authority? - ✔✔✔
Correct Answer > Principal
In An Insurance Contract, The Insurer Is The Only Party Who
Makes A Legally Enforceable Promise. What Kind Of Contract
Is This? - ✔✔✔ Correct Answer > Unilateral
Insurance Policies Are Considered Aleatory Contracts Because -
✔✔✔
