2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS

2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS ( ANSWERS)

1 P a g e 2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS ( ANSWERS) 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 2 P a g e 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 3 P a g e 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 death benefit is provided Question 14