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2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS
FINAL EXAM #12 - TEXAS LIFE ONLY COMPLETE 100
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Question 1
Which settlement option pays a stated amount to an annuitant,
but no residual value to a beneficiary? - ANSWER- Life income
Question 2
A new agent must complete at least _____ hours of continuing
education within 24 months of initial license? - ANSWER- 24
hours
Question 3
L takes out a life insurance policy and dies 10 years later. During
the claim process, the insurer discovers that L has understated
range on the application. Under the misstatement of age
provision the insurer will? - ANSWER- Adjust the death benefits
to a reduced amount
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Question 4
An example of false advertising would be? - ANSWER- And
insurer exaggerating in dividends in a magazine advertisement
Question 5
With whom an agent legally share commissions? - ANSWERAnother agent with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the
following EXCEPT? - ANSWER- Other agents
Question 7
Which of these is not an example of doing insurance business? -
ANSWER- Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance
company is an example of? - ANSWER- Fiduciary responsibility
Question 9
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How does an indexed annuity differ from a fixed annuity? -
ANSWER- Indexed annuity owners receive crediting interest
time to the fluctuation of the linked index
Question 10
which of the following policies combines investment choices
with a form of Term coverage? - ANSWER- Variable universal
life
Question 11
How long does an insurance company appointment remain in
force? - ANSWER- Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have
a grace period of? - ANSWER- 31 days
Question 13
Which statement is TRUE regarding a variable whole life policy?
- ANSWER- A minimum guaranteed death benefit is provided
Question 14Â
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