XCEL-NY-Exam Simulator 1 Q&A Latest Update

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XCEL - NY - Exam Simulator 1 | Q&A Latest 2025/2026 | 100% PASS Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which of the following products would allow him to accomplish this? - Answer -Child Term Rider Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning this type of annuity? - Answer -During periods of inflation, annuitants will experience a decrease in purchasing power of their payments. In contrast to a guaranteed renewable policy, a noncancellable policy Answer -may never raise premiums What is implied authority defined as? - Answer -Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out his/her duties A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing - Answer -benefit limits An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called - Answer -coinsurance The entire contract provision includes all of the following EXCEPT the Answer -Changes made by the agent Converting a group plan to permanent life insurance requires - Answer the conversion being applied for within 31 days of termination