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Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only
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Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only
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Insurance license practice XCELsolutions FINAL EXAM #12 - Texas life
only
Question 1 II
Which settlement option pays a stated amount to an annuitant, but no residual value to a
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beneficiary? - Life income
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Question 2
II II
A new agent must complete at least _____ hours of continuing education within 24
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months of initial license? - 24 hours
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Question 3
II II
L takes out a life insurance policy and dies 10 years later. During the claim process, the
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insurer discovers that L has understated range on the application. Under the
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misstatement of age provision the insurer will? - Adjust the death benefits to a reduced
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amount
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Question 4
II II
An example of false advertising would be? - And insurer exaggerating in dividends in a
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magazine advertisement
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Question 5
II II
With whom an agent legally share commissions? - Another agent with the same line of
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insurance
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Question 6
II II
Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - Other
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agents
II
Question 7
II II
Which of these is not an example of doing insurance business? - Selling shares of stock
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Question 8
II II
taking receipt of premiums and holding them for the insurance company is an example of?
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- Fiduciary responsibility
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Question 9
II II
How does an indexed annuity differ from a fixed annuity? - Indexed annuity owners
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receive crediting interest time to the fluctuation of the linked index
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II Question 10 II
, which of the following policies combines investment choices with a form of Term
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coverage? - Variable universal life
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Question 11
II II
How long does an insurance company appointment remain in force? - Until terminated
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Question 12
II II
in Texas an individual life insurance policy is REQUIRED to have a grace period of? - 31
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days
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Question 13
II II
Which statement is TRUE regarding a variable whole life policy? - A minimum
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guaranteed death benefit is provided
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Question 14
II II
in an insurance contract the insurer is the only party who makes a - Unilateral
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Question 15
II II
which of these is NOT considered to be an element of an insurance contract? -
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Negotiating
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Question 16
II II
What does a 401(k) plan generally provide its participants? - Salary-deferral
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contributions
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Question 17
II II
All these statements concerning Settlement Options are true, EXCEPT? - Only the
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beneficiary may select
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Question 18
II II
A domestic insurance company in Texas is considered a company that? - Is incorporated
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and formed in Texas
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Question 19
II II
Which of the following statements about non-contributory employee group life insurance
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is FALSE? - A minimum number of employees is required to participate
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Question 20
II II
when a misrepresentation on a life insurance policy application is discovered what action
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may an insurance company take? - void the policy only if it is discovered during the
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contestable period and proven to be material
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Question 21
II II
In Texas how long must a policy be in force before an insurance company must pay death
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benefits for suicide - 2 years
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