1
XCEL EXAM SIMULATOR FL EXAM LATEST UPDATES -
2025/2026- ACTUAL QUESTIONS WITH VERIFIED ANSWERS
ALREADY GRADED A+ GUARANTEED SUCCESS
On a life insurance policy, who is qualified to change the beneficiary designation?
Policyowner.
However, consent may be needed by the current beneficiary if designated as
irrevocable.
Generally, how long is a benefit period for a major medical expense plan?
One year.
What type of group plan involves employees sharing the cost?
contributory plan.
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business?
Business owner becoming disabled.
, 2
A business Disability Buy-Sell policy is signed to assist in the sale of a business
when one of the owners becomes disabled.
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?
Collect initial premium along with a signed health statement.
in this situation, the producer should deliver the policy and obtain the premium
payment along with a signed health statement.
Which of these life products is NOT considered interest-sensitive?
-Variable universal life
-Modified whole life
-Interest sensitive whole life
-Variable life
Modified Whole Life.
The following ARE interest sensitive:
, 3
-Variable universal life
-Interest sensitive whole life
-Variable life
How does an indexed annuity differ from a fixed annuity?
indexed annuity owners receive credited interest tied to the fluctuations of the
linked index.
Which mode of payment is NOT used by health insurance policies?
Single premium
A Disability Income policyowner suffers a disability which was due to the same
cause as a previous disability. Both disabilities occurred within a five-month
period. The insurer may cover the second disability without a new elimination
period under the
Recurrent Disability provision.
In this situation, the insurer will provide the same benefits without a new
elimination period under the recurrent disability provision.
In Major Medical Expense policies, what is the intent of a Stop Loss provision?
limits an insured's out-of-pocket medical expenses
, 4
What must an insurer obtain to conduct an HIV test?
written consent
All the following are Nonforfeiture options EXCEPT
a) Reduced paid-up
b) Automatic Premium loan option
c) Cash surrender
d) Extended term
Automatic Premium loan option
Which of these is NOT considered to be a right given to a policyowner?
-Surrendering the policy's cash value
-Modify a provision in the insurance contract
-Assignment of ownership
-Change the beneficiary, if revocable
Modify a provision in the insurance contract
XCEL EXAM SIMULATOR FL EXAM LATEST UPDATES -
2025/2026- ACTUAL QUESTIONS WITH VERIFIED ANSWERS
ALREADY GRADED A+ GUARANTEED SUCCESS
On a life insurance policy, who is qualified to change the beneficiary designation?
Policyowner.
However, consent may be needed by the current beneficiary if designated as
irrevocable.
Generally, how long is a benefit period for a major medical expense plan?
One year.
What type of group plan involves employees sharing the cost?
contributory plan.
Which of these circumstances is a Business Disability Buy-Sell policy designed to
help in the sale of a business?
Business owner becoming disabled.
, 2
A business Disability Buy-Sell policy is signed to assist in the sale of a business
when one of the owners becomes disabled.
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?
Collect initial premium along with a signed health statement.
in this situation, the producer should deliver the policy and obtain the premium
payment along with a signed health statement.
Which of these life products is NOT considered interest-sensitive?
-Variable universal life
-Modified whole life
-Interest sensitive whole life
-Variable life
Modified Whole Life.
The following ARE interest sensitive:
, 3
-Variable universal life
-Interest sensitive whole life
-Variable life
How does an indexed annuity differ from a fixed annuity?
indexed annuity owners receive credited interest tied to the fluctuations of the
linked index.
Which mode of payment is NOT used by health insurance policies?
Single premium
A Disability Income policyowner suffers a disability which was due to the same
cause as a previous disability. Both disabilities occurred within a five-month
period. The insurer may cover the second disability without a new elimination
period under the
Recurrent Disability provision.
In this situation, the insurer will provide the same benefits without a new
elimination period under the recurrent disability provision.
In Major Medical Expense policies, what is the intent of a Stop Loss provision?
limits an insured's out-of-pocket medical expenses
, 4
What must an insurer obtain to conduct an HIV test?
written consent
All the following are Nonforfeiture options EXCEPT
a) Reduced paid-up
b) Automatic Premium loan option
c) Cash surrender
d) Extended term
Automatic Premium loan option
Which of these is NOT considered to be a right given to a policyowner?
-Surrendering the policy's cash value
-Modify a provision in the insurance contract
-Assignment of ownership
-Change the beneficiary, if revocable
Modify a provision in the insurance contract
