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XCEL LIFE INSURANCE ALBAMA FINAL EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+
Under Alabama's annuity disclosure regulation, the disclosures must be mailed to the applicant within __ business days if the application is taken over the telephone. - ANSWER-5
which of the following is not guaranteed by a whole life policy?
- ANSWER-policy dividends
Pat the producer just sold an insurance policy to a client, explaining that he has the authority to issue the policy. Pat was not specifically granted this power from the insurance company.
Pat is exercising: - ANSWER-implied
in Alabama an insurance company incorporated and licensed to
do business in this state is called: - ANSWER-a domestic
company
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The objective of insurance is: - ANSWER-transfer risk
an insurer pays a large claim for medical expenses after the insured has only made one premium payment. this is an example of - ANSWER-aleatory contract
Buying land with the anticipation of it going up in value is an example of - ANSWER-speculative risk
according to alabama law, a minor: - ANSWER-Age 18 can
being receiving life insurance death benefits up to 3,000 per year
which type of life insurance rider allows a policy owner to increase the level of coverage to keep up with inflation? - ANSWER-cost of living rider
The highest premium payment would be charged to which risk classification? - ANSWER-substandard
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the period of time during which a surviving spouse does not qualify for social security survivor or retirement benefits is
called: - ANSWER-black out period
the automatic premium loan provision is NOT used in which of the following policies? - ANSWER-increasing term policy
with term life insurance which of the following types of premiums remains the same for the entire policy period? - ANSWER-level premium
How is the Alabama Life and Disability Insurance Guaranty Association able to pay claims for insolvent insurers? - ANSWER-assessments against other admitted insurers in Alabama
the monthly benefit of an annuity certain is determined by: -
ANSWER-the annuitant's payout period selection
John has recently died and it was discovered that he was actually ten years older than what was listed on his life insurance policy.What will the insurer pay his beneficiary? - ANSWER-John has recently died and it was discovered that he was actually ten
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