TX General Lines Life & Health Questions And Answers Graded A+ 2024/25.
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TX General Lines Life & Health
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TX General Lines Life & Health
TX General Lines Life & Health Questions And Answers Graded A+ 2024/25.
After an investigation, an insurer denies a false claim. The insurer must: - correct answer. Provide a reasonable explanation
Gambling and investing in the stock market are known as what type of risk? - ...
TX General Lines Life & Health Questions
And Answers Graded A+ 2024/25.
After an investigation, an insurer denies a false claim. The insurer must: - correct
answer. Provide a reasonable explanation
Gambling and investing in the stock market are known as what type of risk? - correct
answer. Speculative Risk
Which would be considered an Unfair Claims Practice under Texas Law? - correct
answer. Failing to promptly provide a reasonable explanation for denial of claim
payment.
When a producer collects money on an application for insurance and puts it into a
separate account from his/her own personal account. This would make that producer? -
correct answer. Fiduciary
As statement on a proof of loss or on an application which is guaranteed to be true in all
respect and if found to be false could void the contract would be called ? - correct
answer. Warranty
All of the following are not competent to enter into a contract ACCEPT? - correct
answer. 75 year old unemployed person
Statement made in an application for life insurance which is substantially true would be
considered? - correct answer. Representation
When the insured pays a premium in exchange for the insurers promise to pay, this
provision is called? - correct answer. Consideration
, How many hours of continuing education hours must be ethics per renewal period? -
correct answer. 2
Paula has a life policy with her mother listed as her primary beneficiary. Paula marries
and changes the OWNERSHIP on her policy to her spouse. Paula later dies without
making any changes. Who will receive death proceeds? - correct answer. Mother
How long is the grace period in an individual Life Insurance policy in Texas? - correct
answer. 31 days
Which is not true about coverage for newborns on health policies? - correct answer.
Covers congenital effects only
If an insurer deceives a prospects regarding the Insurers assets, corporate structure or
financial standing. This would be? - correct answer. False Advertising
If an insurer accepts an incomplete application and issues the policy, what must they
do? - correct answer. Honor the policy
Statements made on a claim form or an application for insurance that are believed to be
true are? - correct answer. Representations
Which of these would be considered insurable? - correct answer. Pure risk
What is the minimum coverage For long-term care policy in Texas - correct answer.
12 Months
A false statement in an application is - correct answer. Misrepresentation
The federal act that protects consumers by Making sure the data Collected is kept
confidential Accurate and use for Specific purpose is called - correct answer. Fair
credit reporting act
A person that's been in business for years gets their license revoked. Which must they
do? - correct answer. Wait five years then reapply
According to the fair credit reporting act When must the applicant be informed Of
obtaining a credit report In the underwriting of a policy? - correct answer. At the time
of application
When an insurer relies on the prior claims history Of the group to be insured In
determining the rate to be charged It is called? - correct answer. Experience rating
When a producer has a financial responsibility For funds collected while doing business
This would be best described as? - correct answer. A fiduciary
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