PRACTICE EXAM OF TEXAS LIFE & HEALTH INSURANCE. "Life section 1"
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Course
TEXAS LIFE & HEALTH INSURANCE.
Institution
TEXAS LIFE & HEALTH INSURANCE.
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of the policy when he reaches the age of: - ANSWER-C- 100
Which of the following is an example of a Limited-Pay Life policy?
A- Universal life
B- Whole Life
C- Life Paid-Up ...
PRACTICE EXAM OF TEXAS LIFE &
HEALTH INSURANCE QUESTIONS AND
ANSWERS
Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover
a 20-year-amortized $50,000 business-improvement loan. Which of the following plans
would adequately protect Ms. Timms at the minimum premium outlay?
A- $50,000 Whole Life policy
B- $50,000 Level Term policy for 20 years
C- $50,000 20 Pay Life policy .
D- $50,000 Decreasing Term policy for 20 years Renewable, decreases over life of
policy at pre-determined rate. - ANSWER-D- $50,000 Decreasing Term policy for 20
years Renewable, decreases over life of policy at pre-determined rate.
A 45-year-old customer who is seeking to supplement his retirement income at age 65
would not buy a: - ANSWER-D- Immediate Annuity Lump Sum, Specified period of time.
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash
value will equal the face amount of the policy when he reaches the age of: - ANSWER-
C- 100
Which of the following is an example of a Limited-Pay Life policy?
A- Universal life
B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age 70 - ANSWER-C- Life Paid-Up at Age 65
Which of the following policies provides the greatest amount of protection for an
insured's premium dollar as well as some cash accumulation?
A- Annuity
B- Whole Life
C- Term
D- Limited-Pay Life - ANSWER-B- Whole Life
Which of the following individual policy conversions is usually permitted without any
evidence of insurability?
A- Conversion to a lower-premium plan
B- Conversion from a Whole Life policy to a Term policy
C- Conversion from a Term policy to a Whole Life policy
D- Conversion to a larger amount of insurance - ANSWER-C- Conversion from a Term
policy to a Whole Life policy
Which of the following is NOT correct regarding Ordinary Whole Life policies?
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