Page 1 of 102
XCEL State Exam Simulator (3 LATEST VERSIONS) Includes 500+ Accurate And Verified Questions Tailored For Life, Health, Property, And Casualty Insurance Licensing Exams Across Various States. It Mirrors The Actual Testing Experience With Modules On Insurance Terms, Policy Types, Underwriting, State-Specific Regulations, Ethics, And Claims Handling
VERSION 1
K is an agent who made an improper sale of an annuity to a client. Which of the following corrective actions would the Department of Financial Services likely order K to take? - ANSWER-pay the monetary restitution to the client
G purchased a Family Income policy at age 40, The policy has a 20-year rider period. If G were to die at age 50, how long would G's family receive an income? - ANSWER-10 years
Which of the following policies is characterized by a flexible premium and death benefit and allows the policyowner control 1 / 4
Page 2 of 102
of the investment aspect of the plan - ANSWER-variable universal life
A CEO's personal assistant suffered injuries at home and as a result, was unable to work for four months. Which type of policy will pay a monthly benefit to the personal assistant? - ANSWER-disability income
How do life insurance companies handle cases where the insured commits suicide within the contract's stated Contestable period? - ANSWER-claims are denied under the suicide clause of the policy
When is it acceptable to share commissions with another agent?
- ANSWER-as long as both agents are licensed for the same
lines of insurance
K made a fraudulent statement on her health insurance policy application. In the event of a claim on this policy, the insurance company is required to pay - ANSWER-nothing
- / 4
Page 3 of 102
An insurance company must act on an Accident and Health insurance application for reinstatement within _____ days -
ANSWER-45
N, age 50, recently bought an annuity that will pay a guaranteed $2,000/month at age 70 for life. What type of annuity did N purchase? - ANSWER-Fixed deferred
When a policyowner exchanges a term policy for a whole life policy without providing proof of good health, which of these apply? - ANSWER-conversion provision
A person insured under a health policy is required to give the insurance company a Notice of Claim within how many days after a covered loss? - ANSWER-twenty days
The policy provision that entitles the insurer to establish conditions the insured must meet while a claim is pending is - ANSWER-time limit on certain defenses
Which of these is NOT a source of funding for Social Security benefits? - ANSWER-Federal government 3 / 4
Page 4 of 102
P is a new employee and will be obtaining non-contributory group Major Medical insurance from her employer. Which of the following actions must she take during the open enrollment period? - ANSWER-sign an enrollment card
Which of these actions should a producer take when submitting an insurance application to an insurer? - ANSWER-inform insurer of relevant information not included on the application
What kind of insurance policy supplies an income stream over a set period of time that starts when the insured dies? - ANSWER- Family Maintenance Policy
Which of the following is NOT required on every insurance application sold in Florida? - ANSWER-address and phone number of the agent
An insured covered by a group Major Medical plan is hospitalized after sustaining injuries that resulted from an automobile accident. Assuming the plan had a $1,000 deductible and an 80/20 Coinsurance clause, how much will the INSURED
- / 4