XCEL Georgia Life, Accident, &
Sickness SIMULATOR 2025/2026
BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM
QUESTIONS AND A STUDY GUIDE
| EXPERT VERIFIED FOR
GUARANTEED PASS
Which of these is considered a mandatory provision?
A) Payment of Claims
B) Insurance with Other Insurers
C) Misstatement of Age
D) Change of Occupation - ANSWER A) Payment of Claims
Payment of Claims is considered a mandatory provision and directs
where the claim benefits will go. The others are considered optional
provisions.
All of the following are considered to be typical characteristics
describing the nature of an insurance contract, EXCEPT:
A) Bilateral
B) Unilateral
C) Aleatory
D) Adhesion - ANSWER A) Bilateral
Unilateral, aleatory, and adhesion are all special features of insurance
contracts. Bilateral is not.
B is a teacher who was injured in a car accident and cannot work. She is
now receiving monthly benefits as a result of this accident. Which type of
policy does B have?
,A) Major Medical
B) Blanket
C) Disability Income
D) Indemnity - ANSWER C) Disability Income
In this situation, a Disability Income policy will pay monthly benefits to a
teacher who is unable to work as a result of a car accident.
Which of the following statements descries what an Accident and Health
policy owner may NOT do?
A) File a covered claim
B) Assign ownership
C) Cancel the coverage
D) Adjust the premium payments - ANSWER D) Adjust the premium
payments
The owner of an Accident and Health policy may not change the
premium amount.
In Georgia, long-term care policies are required to provide benefits for at
least:
A) 6 months
B) 12 months
C) 18 months
D) 24 months - ANSWER B) 12 months
Long-term care policies issued in Georgia must provide benefits for at
least 12 consecutive months.
An individual Disability Income insurance applicant may be required to
submit all of the following information, EXCEPT:
A) Medical history
B) Gross income
C) Occupation
D) Spouse's occupation - ANSWER D) Spouse's occupation
In this situation, a spouse's occupation is not necessary for the application.
Which of the following is not considered rebating?
,A) Sharing commissions with an agent licensed in the same line of
business
B) Returning premium to a client as an inducement for purchasing a
policy
C) Giving something of value to an insured in exchange for their business
D) Offering special dividends - ANSWER A) Sharing commissions with
an agent licensed in the same line of business
Sharing commissions with other licensed and appointed agents is not
considered rebating.
In life insurance, the needs approach is used mostly to establish:
A) Which type of life insurance a client should apply for
B) How much life insurance a client should apply for
C) Which company a client should use when applying for life insurance
D) What the maximum amount the client can spend on life insurance -
ANSWER B) How much life insurance a client should apply for
The "needs approach" in life insurance is most useful in determining the
amount of life insurance to be recommended to a client.
What is Old Age and Survivors Health Insurance (OASDHI) also known
as?
A) Medicare
B) Social Security
C) Medicaid
D) FICA - ANSWER B) Social Security
Old Age, Survivors, and Disability Insurance (OASDI), was signed into
law in 1935 by President Roosevelt as part of the Social Security Act.
Major Medical policies typically:
A) Pay 100% of covered expenses
B) Contain a deductible and coinsurance
C) Require use of in-network facilities only
D) Do not contain a deductible and coninsurance - ANSWER B) Contain
a deductible and coinsurance
Major Medical policies typically contain a deductible and coinsurance.
, The part of a life insurance policy guaranteed to be true is called a(n):
A) Representation
B) Exclusion
C) Warranty
D) Waiver - ANSWER C) Warranty
In a Disability Income policy, which of these clauses acts as a deductible?
A) Elimination Period
B) Waiver Period
C) Deductible Period
D) Probationary Period - ANSWER A) Elimination Period
The Elimination Period serves as the deductible in a disability income
policy.
Which of these retirement plans can be started by an employee, even if
another plan is in existence?
A) Individual Retirement Account (IRA)
B) Defined plan
C) Keogh plan
D) 403(b) plan - ANSWER A) Individual Retirement Account (IRA)
An IRA may be established by an employee, regardless of any other
retirement plan.
An insured's inability to perform two or more activities of daily living
may trigger which type of life policy rider?
A) Waiver of Premium
B) Long-term care
C) Accelerated Death Benefit
D) Accidental - ANSWER B) Long-term care
A long-term care rider is triggered by the insured's inability to perform
two or more activities of daily living.
? - ANSWER
Sickness SIMULATOR 2025/2026
BANK COMPLETE STUDY GUIDE
ACCURATE REAL EXAM
QUESTIONS AND A STUDY GUIDE
| EXPERT VERIFIED FOR
GUARANTEED PASS
Which of these is considered a mandatory provision?
A) Payment of Claims
B) Insurance with Other Insurers
C) Misstatement of Age
D) Change of Occupation - ANSWER A) Payment of Claims
Payment of Claims is considered a mandatory provision and directs
where the claim benefits will go. The others are considered optional
provisions.
All of the following are considered to be typical characteristics
describing the nature of an insurance contract, EXCEPT:
A) Bilateral
B) Unilateral
C) Aleatory
D) Adhesion - ANSWER A) Bilateral
Unilateral, aleatory, and adhesion are all special features of insurance
contracts. Bilateral is not.
B is a teacher who was injured in a car accident and cannot work. She is
now receiving monthly benefits as a result of this accident. Which type of
policy does B have?
,A) Major Medical
B) Blanket
C) Disability Income
D) Indemnity - ANSWER C) Disability Income
In this situation, a Disability Income policy will pay monthly benefits to a
teacher who is unable to work as a result of a car accident.
Which of the following statements descries what an Accident and Health
policy owner may NOT do?
A) File a covered claim
B) Assign ownership
C) Cancel the coverage
D) Adjust the premium payments - ANSWER D) Adjust the premium
payments
The owner of an Accident and Health policy may not change the
premium amount.
In Georgia, long-term care policies are required to provide benefits for at
least:
A) 6 months
B) 12 months
C) 18 months
D) 24 months - ANSWER B) 12 months
Long-term care policies issued in Georgia must provide benefits for at
least 12 consecutive months.
An individual Disability Income insurance applicant may be required to
submit all of the following information, EXCEPT:
A) Medical history
B) Gross income
C) Occupation
D) Spouse's occupation - ANSWER D) Spouse's occupation
In this situation, a spouse's occupation is not necessary for the application.
Which of the following is not considered rebating?
,A) Sharing commissions with an agent licensed in the same line of
business
B) Returning premium to a client as an inducement for purchasing a
policy
C) Giving something of value to an insured in exchange for their business
D) Offering special dividends - ANSWER A) Sharing commissions with
an agent licensed in the same line of business
Sharing commissions with other licensed and appointed agents is not
considered rebating.
In life insurance, the needs approach is used mostly to establish:
A) Which type of life insurance a client should apply for
B) How much life insurance a client should apply for
C) Which company a client should use when applying for life insurance
D) What the maximum amount the client can spend on life insurance -
ANSWER B) How much life insurance a client should apply for
The "needs approach" in life insurance is most useful in determining the
amount of life insurance to be recommended to a client.
What is Old Age and Survivors Health Insurance (OASDHI) also known
as?
A) Medicare
B) Social Security
C) Medicaid
D) FICA - ANSWER B) Social Security
Old Age, Survivors, and Disability Insurance (OASDI), was signed into
law in 1935 by President Roosevelt as part of the Social Security Act.
Major Medical policies typically:
A) Pay 100% of covered expenses
B) Contain a deductible and coinsurance
C) Require use of in-network facilities only
D) Do not contain a deductible and coninsurance - ANSWER B) Contain
a deductible and coinsurance
Major Medical policies typically contain a deductible and coinsurance.
, The part of a life insurance policy guaranteed to be true is called a(n):
A) Representation
B) Exclusion
C) Warranty
D) Waiver - ANSWER C) Warranty
In a Disability Income policy, which of these clauses acts as a deductible?
A) Elimination Period
B) Waiver Period
C) Deductible Period
D) Probationary Period - ANSWER A) Elimination Period
The Elimination Period serves as the deductible in a disability income
policy.
Which of these retirement plans can be started by an employee, even if
another plan is in existence?
A) Individual Retirement Account (IRA)
B) Defined plan
C) Keogh plan
D) 403(b) plan - ANSWER A) Individual Retirement Account (IRA)
An IRA may be established by an employee, regardless of any other
retirement plan.
An insured's inability to perform two or more activities of daily living
may trigger which type of life policy rider?
A) Waiver of Premium
B) Long-term care
C) Accelerated Death Benefit
D) Accidental - ANSWER B) Long-term care
A long-term care rider is triggered by the insured's inability to perform
two or more activities of daily living.
? - ANSWER
