Texas Life Insurance Exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Texas Life Insurance
Institution
Texas Life Insurance
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
-:- 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 ...
Texas Life Insurance Exam Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
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
✓ -:- 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?
✓ -:- 20-Pay Life accumulates cash value faster than Straight Life
How does an indexed annuity differ from a fixed annuity ?
✓ -:- 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
✓ -:- make a prospect understand that dividends are NOT guaranteed
The Accelerated Death Benefit provision in a life insurance policy is also known as a(n) )
✓ -:- Living Benefit
In Texas, an individual life insurance policy is required to have a grace period of
✓ -:- 31 days
Which statement is correct regarding the premium payment schedule for whole life
policies?
✓ -:- 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?
✓ -:- Each partner must own a policy on the other partners
Why would the Insurance Commissioner examine the records of an insurance company?
✓ -:- 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?
3|Page | Grade A+| 2024/2025
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