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XCEL FINAL VERSION 2 LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+
Which of the following medical expenses does
Cancer insurance NOT cover?
A. Chemotherapy
B. Radiation treatment
C. Physician visit
D. Arthritis ......ANSWER......D. Arthritis
N is a 40-year old applicant who would like to retire
at age 70. He is looking to buy a life insurance
policy with level premiums, permanent protection,
and be paid-up at retirement. Which of these
should N purchase?
A. 30 Pay Life
B. Term to Age 70
C. Universal Life
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D. Adjustable Life ......ANSWER......A. 30 Pay Life
The reason for backdating a policy is
A. to avoid being considered a substandard risk due to a recent cancer
diagnosis
B. to obtain a premium rate based on an earlier age
C. to decrease the face amount
D. to decrease the Contestable period ......ANSWER......B. to obtain a
premium rate based on an earlier age
G is involved in an automobile accident as a result
of driving while intoxicated and suffers numerous
injuries. According to the Intoxicants and Narcotics
exclusion in G's policy, who is responsible for
paying the medical bills?
A. The reinsurer
B. The insured
C. The insurer
D. The Guaranty Association ......ANSWER......B. The Insured
After an insured gives notice of loss, what must
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he/she do if the insurer does not furnish forms?
A. File a lawsuit
B. Contact the insurer again requesting forms
C. Nothing
D. File written proof of loss ......ANSWER......D. File written proof off
loss
K is an annuitant currently receiving payments. If
she were to die before receiving payments equal to
the correct value, a beneficiary will continue
receiving payments until an amount equal to the
contract value has been paid. This is called a(n)
A. Installment Refund annuity
B. Joint Refund annuity
C. Straight Refund annuity
D. Equal Value annuity ......ANSWER......A. Installment Refund annuity
P is a forty year old woman and would like to
purchase an annuity that will provide a lifetime
income stream beginning at age sixty. Which of the
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following did she NOT buy?
A. A straight life deferred annuity
B. A straight life annuity
C. An immediate annuity
D. A deferred annuity ......ANSWER......C. A Immediate Annuity
An agent's license can be suspended or revoked
by
A. writing primarily controlled business
B. not meeting annual sales quota
C. replacing an existing insurance policy with a new one
D. issuing a binding a receipt ......ANSWER......A. writing primarily
controlled business
M completes an application for life insurance but
does not pay the initial premium. All of these
actions must occur before M's policy goes into
effect, EXCEPT:
A. policy is delivered
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XCEL FINAL VERSION 2 LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+
Which of the following medical expenses does
Cancer insurance NOT cover?
A. Chemotherapy
B. Radiation treatment
C. Physician visit
D. Arthritis ......ANSWER......D. Arthritis
N is a 40-year old applicant who would like to retire
at age 70. He is looking to buy a life insurance
policy with level premiums, permanent protection,
and be paid-up at retirement. Which of these
should N purchase?
A. 30 Pay Life
B. Term to Age 70
C. Universal Life
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,2|Page
D. Adjustable Life ......ANSWER......A. 30 Pay Life
The reason for backdating a policy is
A. to avoid being considered a substandard risk due to a recent cancer
diagnosis
B. to obtain a premium rate based on an earlier age
C. to decrease the face amount
D. to decrease the Contestable period ......ANSWER......B. to obtain a
premium rate based on an earlier age
G is involved in an automobile accident as a result
of driving while intoxicated and suffers numerous
injuries. According to the Intoxicants and Narcotics
exclusion in G's policy, who is responsible for
paying the medical bills?
A. The reinsurer
B. The insured
C. The insurer
D. The Guaranty Association ......ANSWER......B. The Insured
After an insured gives notice of loss, what must
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he/she do if the insurer does not furnish forms?
A. File a lawsuit
B. Contact the insurer again requesting forms
C. Nothing
D. File written proof of loss ......ANSWER......D. File written proof off
loss
K is an annuitant currently receiving payments. If
she were to die before receiving payments equal to
the correct value, a beneficiary will continue
receiving payments until an amount equal to the
contract value has been paid. This is called a(n)
A. Installment Refund annuity
B. Joint Refund annuity
C. Straight Refund annuity
D. Equal Value annuity ......ANSWER......A. Installment Refund annuity
P is a forty year old woman and would like to
purchase an annuity that will provide a lifetime
income stream beginning at age sixty. Which of the
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following did she NOT buy?
A. A straight life deferred annuity
B. A straight life annuity
C. An immediate annuity
D. A deferred annuity ......ANSWER......C. A Immediate Annuity
An agent's license can be suspended or revoked
by
A. writing primarily controlled business
B. not meeting annual sales quota
C. replacing an existing insurance policy with a new one
D. issuing a binding a receipt ......ANSWER......A. writing primarily
controlled business
M completes an application for life insurance but
does not pay the initial premium. All of these
actions must occur before M's policy goes into
effect, EXCEPT:
A. policy is delivered
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