pg. 1 FL Xcel Exam Simulator Latest 2025 with 200 Practice Questions and Correct Answers/ Florida XCEL Simulator Exam 2025-2026 Prep Qs with Correct As (New!)
According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? - ANSWER-At the time of application
In Florida, monthly-premium health insurance policies must provide a grace period
of at least: - ANSWER-10 days
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L had understated her age on the application.Under the Misstatement of Age provision, the insurer will - ANSWER-Adjust the death benefit to a reduced amount
In Florida, what is the maximum percentage of controlled business an agent may produce? - ANSWER-50%
Under a Renewable Term policy,
- the face amount is automatically adjusted at the time of renewal
-evidence of insurability must be provided at each renewal
-the renewal premium is calculated on the basis of the insured's attained age 1 / 4
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-a new application must be completed at each renewal - ANSWER-the renewal premium is calculated on the basis of the insured's attained age
Which of the following provisions is NOT required in HMO contracts/certificates?
-enrollment -rates shall not be excessive -no pre-existing exclusions for children -seven day grace period - ANSWER-seven day grace period a grace period of no less than 10 days must be expressly included in an HMO contract
Which of the following statements is CORRECT about accelerated death benefits?
-the full face amount is available as an accelerated benefit
-those on social security disability automatically qualify for this benefit
-this provision is usually provided with an increase in premium
-must have a terminal illness to qualify - ANSWER-must have a terminal illness to qualify
accelerated death benefits provide for the early payment of some portion of the policy face amount should the insured suffer from a terminal illness or injury
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pg. 3 When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld? - ANSWER-NONE there is no tax withheld on an IRA transfer
The minimum age at which a person can sign a life insurance application is - ANSWER-15 years old
Which of these is an element of a variable life policy?
-a fixed, level premium -insurer assumes the investment risk -no investment risk to the policyowner -rate of returns are guaranteed - ANSWER-a fixed, level premium Variable Whole Life Policies have a fixed, level premium
Which Long Term Care insurance statement is true?
-Inflation protection is usually not offered -Benefits are usually payable for alcohol rehabilitation -Can only be offered to individuals under the age of 70 -Pre-existing conditions must be covered after the coverage has been in force for six months - ANSWER-"Pre-existing conditions must be covered after the coverage has been in force for six months".
Pre-existing conditions are those for which medical advice or treatment was recommended by or received from a health provider within 6 months preceding the effective date of an individual long-term care policy. 3 / 4
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An insurance company can contest a life insurance contract due to application
fraud within: - ANSWER-2 years
there is a two year time limit for an insurer to contest a life insurance contract due to application fraud
According to Florida's rules on disclosure, a life insurance applicant is expected to be provided with
-a certificate of coverage and buyer's guide
-a summary statement and buyer's guide
-a buyer's guide and policy summary
-a written comparison and policy summary - ANSWER-a buyer's guide and a policy summary
Who owns stock in a company? - ANSWER-Stockholders
Insurers/agents must, in Florida, offer and issue all small employer health plans on a ____ basis
-fair -non-renewal -discounted -guaranteed-issue - ANSWER-Guaranteed-issue
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