Exam (elaborations)
TEXAS LIFE AGENT EXAM QUESTION AND ANSWERS
- Course
- Institution
TEXAS LIFE AGENT EXAM QUESTION AND ANSWERS
[Show more]
Content preview
TEXAS LIFE AGENT EXAM QUESTIONAND ANSWERS
A foreign insurance company is one that is incorporated:
A. under Texas law
B. under the laws of another state
C. in a territory of another country
D. outside the United States (US) - Answer-B. under the laws of another state
Individual licensees who change their residence address must notify the Commissioner
of Insurance of the change within a:
A. week
B. month
С. quarter
D. year - Answer-B. month
Life insurance policies contain a grace period, after the first premium payment, of what
length of time?
A. 15 days
В. 1 month
С. 45 days
D. 2 months - Answer-В. 1 month
A life insurance illustration is REQUIRED to include the:
A. loan values
В. beneficiary
C. initial death benefit
D. company's mortality table - Answer-C. initial death benefit
Which of the following is a requirement for license renewal if an agent fails to complete
Continuing Education (CE) within the current term?
A. Complete pre-licensing education
B. Complete CE and pay a $50 per hour fine up to $500 for any deficit continuing
education hours
C. Retake the state licensing exam
D. Have a valid appointment with an insurance company - Answer-B. Complete CE and
pay a $50 per hour fine up to $500 for any deficit continuing education hours
Before holding a hearing regarding an agent's unfair or deceptive practice, the
Commissioner of Insurance MUST give the agent how many days notice?
A. 3
В. 5
C. 10
D. 45 - Answer-C. 10
, A replacing insurance company MUST notify the existing company within how many
business days after receipt of notification?
A. 2
B. 4
C. 5
D. 11 - Answer-C. 5
For an insurance company to transact business in Texas, which of the following MUST
be true?
A. It must employ resident agents.
B. It must hold a certificate of authority issued by Texas.
C. Its underwriting and claims facilities must be located in Texas.
D. Its articles of incorporation must be filed with the Texas Secretary of State. - Answer-
B. It must hold a certificate of authority issued by Texas.
An agent may legally share commissions only with:
A. an insured if the amount is less than $15
в. an insured, with prior approval from the Commissioner of Insurance
C. another agent who has an appointment with a different insurance
D. another agent who is licensed in the same line of insurance - Answer-D. another
agent who is licensed in the same line of insurance
Under the Conversion provision of a group life insurance policy, a terminating employee
can:
A. continue the life insurance coverage by paying the group premium rate
В. change to a Term policy
C. change to an individual life insurance policy without evidence of insurability
D. change the amount of group coverage - Answer-C. change to an individual life
insurance policy without evidence of insurability
Insurance records that are maintained by a licensee MUST be:
А. audited every three years by a certified public accountant (CPA)
B. documented on forms prescribed by the Insurance Commissioner
C. available for inspection by the Insurance Commissioner for five years
D. available for inspection by policyholders - Answer-C. available for inspection by the
Insurance Commissioner for five years
A group life insurance policy sponsored by an employer in the state of Texas requires
that a MINIMUM of how many employees be covered?
A. 2
В. 15
C. 25
D. 35 - Answer-В. 15
Under a group life insurance policy, an insured can legally assign the incidents of
ownership in the policy to:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller biggdreamer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79271 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now