XCEL Solutions Exam Q&A Latest Update 2025

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XCEL Solutions | Q&A Latest 2025/2026 | 100% PASS Reserve - Answer -funds held by the company to help future claims. minimum reserves are usually set by the state Department of Insurance. Multi-line insurer - Answer -an insurance company or independent agent that provides a one-stop shop for businesses or individuals seeking coverage for all their insurance needs. For example, many large insurers offer individual policies for automobile, homeowner, long-term care, life and health insurance needs. Stock companies (for the purpose of insurance) - Answer -insurance companies owned and controlled by a group of stockholders whose investment in the company provides the safety margin necessary in issuance of guaranteed, fixed premium, nonparticipating policies. Nonparticipating plan - Answer -insurance under which the insured is not entitles to share divisible surplus of the company. Mutual companies - Answer -insurance companies characterized by having no capital stock; it is owned by its policy owners and usually issues participating insurance. Participating Plan - Answer -a plan under which the policy owner receives shares (commonly called dividends) of divisible surplus of the company. reinsurer - Answer -a company that provides financial protection to insurance companies. Reinsurers handle risks that are too large for