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Texas Life Insurance Exam Practice Questions and Answers
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Texas Life Insurance Exam Practice Questions and Answers P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - Answer️️ -P receives the policy and pays the premium A potential client, age 40, would li...

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  • September 1, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • texas life insurance exam practice questions and a

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  • Life insurance
  • Life insurance

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

,Texas Life Insurance Exam Practice
Questions and Answers


P completes an application for a $10,000 life policy, but does not give the producer the

initial premium. P's coverage becomes effective when - Answer✔️✔️-P receives the

policy and pays the premium

A potential client, age 40, would like to purchase a Whole Life policy that will

accumulate cash value at a faster rate in the early years of the policy. Which of these

statements made by the producer would be carrer? - Answer✔️✔️-20-Pay Life

accumulates cash value faster than Straight Life

How does an indexed annuity differ from a fixed annuity ? - Answer✔️✔️-Indexed annuity

owners receive credited interest tied to the fluctuations of the linked index

During a sales presentation for a participating life insurance policy, an agent MUST -

Answer✔️✔️-make a prospect understand that dividends are NOT guaranteed

T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an

irrevocable eneficiary. What action will the insurance company take if I requests a

change of beneficiary? - Answer✔️✔️-request of the change will be refused

Which provision allows the policyowner to change a term life policy to a permanent one

without providing proof of good health? - Answer✔️✔️-conversion

T has a term policy that allows him to continue the coverage after expiration of the initial

policy period What type of term coverage is this? - Answer✔️✔️-renewable

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, Which of the following is NOT a required provision in group life policies? - Answer✔️✔️-

Right to loan

The Insurance Commissioner must give how many days notice prior to holding a

hearing regarding an agent's unfair or deceptive practice? - Answer✔️✔️-30

The Accelerated Death Benefit provision in a life insurance policy is also known as a(n)

) - Answer✔️✔️-Living Benefit

In Texas, an individual life insurance policy is required to have a grace period of -

Answer✔️✔️-31 days

Which statement is correct regarding the premium payment schedule for whole life

policies? - Answer✔️✔️-Premiums are payable throughout the insured's lifetime/

coverage lasts until death of the insured

Company Z has a Cross Purchase Buy-Sell Agreement in place among its three

founding partners. If the agreement is funded with individual life insurance, what would it

require? - Answer✔️✔️-Each partner must own a policy on the other partners

Why would the Insurance Commissioner examine the records of an insurance

company? - Answer✔️✔️-To determine the solvency of the company

Which of the following features of a group Term Life policy enables an individual to

leave the group and continue his or her insurance without providing evidence of

insurability? - Answer✔️✔️-Conversion privilege

Taking receipt of premiums and holding them for the insurance company is an example

of: - Answer✔️✔️-fiduciary responsibility




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