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TEXAS LIFE AND HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS REAL EXAM 2025
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TEXAS LIFE AND HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS REAL EXAM 2025
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TEXAS LIFE AND HEALTH INSURANCE EXAMQUESTIONS AND ANSWERS REAL EXAM 2025
AtTwhatTpointTmustTaTlifeTinsuranceTapplicantTbeTinformedTofTtheirTrightsTthatTfallTunderTtheTFairTCreditTR
eportingTAct?T-TcorrectTanswer-UponTcompletionTofTtheTapplication
WhoTelectsTtheTgoverningTbodyTofTaTmutualTinsuranceTcompany?T-TcorrectTanswer-policyholders
AnTinsuranceTapplicantTMUSTTbeTinformedTofTanTinvestigationTregardingThis/herTreputationTandTcharacter
TaccordingTtoTtheT-TcorrectTanswer-FairTCreditTReportingTAct
WhatTtypeTofTreinsuranceTcontractTinvolvesTtwoTcompaniesTautomaticallyTsharingTtheirTriskTexposure?T-
TcorrectTanswer-Treaty
TheTstatedTamountTorTpercentTofTliquidTassetsTthatTanTinsurerTmustThaveTonThandTthatTwillTsatisfyTfutureTob
ligationsTtoTitsTpolicyholdersTisTcalledT-TcorrectTanswer-reserves
WhichTofTtheTfollowingTrequiresTinsurersTtoTdiscloseTwhenTanTapplicant'sTconsumerTorTcreditThistoryTisTbei
ngTinvestigatedT-TcorrectTanswer-1970T-TFairTCreditTReportingTAct
WhatTisTtheTconsiderationTgivenTbyTanTinsurerTinTtheTConsiderationTclauseTofTaTlifeTpolicy?T-
TcorrectTanswer-PromiseTtoTpayTaTdeathTbenefit
WhenTthird-
partyTownershipTisTinvolved,TapplicantsTwhoTalsoThappenTtoTbeTtheTstatedTprimaryTbeneficiaryTareTrequire
dTtoThaveT-TcorrectTanswer-insurableTinterestTinTtheTproposedTinsured
StatementsTmadeTonTanTinsuranceTapplicationTthatTareTbelievedTtoTbeTtrueTtoTtheTbestTofTtheTapplicant'sTkn
owledgeTareTcalledT-TcorrectTanswer-representations
TheTpartTofTaTlifeTinsuranceTpolicyTguaranteedTtoTbeTtrueTisTcalledTa(n)T-TcorrectTanswer-warranty
WhichTofTtheseTisTNOTTaTtypeTofTagentTauthority?
,T Express
T Implied
T Principal
T ApparentT-TcorrectTanswer-Principal
TheTConsiderationTclauseTofTanTinsuranceTcontractTincludesT-TcorrectTanswer-
theTscheduleTandTamountTofTpremiumTpayments
ETandTFTareTbusinessTpartners.TEachTtakesToutTaT$500,000TlifeTinsuranceTpolicyTonTtheTother,TnamingThims
elfTasTprimaryTbeneficiary.TETandTFTeventuallyTterminateTtheirTbusiness,TandTfourTmonthsTlaterTETdies.TAlt
houghTETwasTmarriedTwithTthreeTchildrenTatTtheTtimeTofTdeath,TtheTprimaryTbeneficiaryTisTstillTF.THowever,
TanTinsurableTinterestTnoTlongerTexists.TWhereTwillTtheTproceedsTfromTE'sTlifeTinsuranceTpolicyTbeTdirected
Tto?T-TcorrectTanswer-InTthisTsituation,TtheTproceedsTfromTE'sTlifeTinsuranceTpolicyTwillTgoTtoTF.
WhichTofTtheTfollowingTtermsTdefinesTtheTlegallyTenforceableTpromiseTinTanTinsuranceTcontractTbyTtheTins
urer?T-TcorrectTanswer-Unilateral
WhenTmustTinsurableTinterestTexistTforTaTlifeTinsuranceTcontractTtoTbeTvalid?T-TcorrectTanswer-
InceptionTofTtheTcontract
InsuranceTcontractsTareTknownTasT____TbecauseTcertainTfutureTconditionsTorTactsTmustToccurTbeforeTanyTcl
aimsTcanTbeTpaid.T-TcorrectTanswer-conditional
WhichTofTtheseTrequireTanToffer,Tacceptance,TandTconsideration?T-TcorrectTanswer-Contract
WhichTofTtheseTarrangementsTallowsToneTtoTbypassTinsurableTinterestTlaws?T-TcorrectTanswer-Investor-
OriginatedTLifeTInsurance
Investor-originatedTlifeTinsuranceT(orTIOLI),TsometimesTcalledTstranger-
originatedTlifeTinsuranceT(orTSTOLI)TisTusedTtoTcircumventTstateTinsurableTinterestTstatutes.TThisTisTdoneT
whenTanTinvestorT(orTstranger)TpersuadesTanTindividualTtoTtakeToutTlifeTinsuranceTspecificallyTforTtheTpurp
oseTofTsellingTtheTpolicyTtoTtheTinvestor.TTheTinvestorTcompensatesTtheTinsuredTandTmakesTtheTpremiums,Tt
henTcollectsTtheTdeathTbenefitTwhenTtheTinsuredTdies.
WhichTofTtheseTisTNOTTconsideredTtoTbeTanTelementTofTanTinsuranceTcontract?
, T theToffer
T acceptance
T negotiating
T considerationT-TcorrectTanswer-negotiating
AnTagentTisTanTindividualTthatTrepresentsTwhom?T-TcorrectTanswer-Insurer
InsurableTinterestTmustTexistTatTwhatTtime?T-TcorrectTanswer-atTtheTtimeTofTapplication
WhichTpolicyTrequiresTanTagentTtoTregisterTwithTtheTNationalTAssociationTofTSecuritiesTDealersT(NASD)Tb
eforeTselling?T-TcorrectTanswer-VariableTLife
WhichTofTtheTfollowingTactionsTrequireTaTpolicyTownerTtoTprovideTproofTofTinsurabilityTinTanTAdjustableTL
ifeTpolicy?T-TcorrectTanswer-increaseTfaceTamount
WhenTaTpolicyTownerTexchangesTaTtermTpolicyTforTaTwholeTlifeTpolicyTwithoutTprovidingTproofTofTgoodThe
alth,TwhichTofTtheseTapply?T-TcorrectTanswer-ConversionTprovision
WhatTtypeTofTlifeTinsuranceTareTcreditTpoliciesTissuedTas?T-TcorrectTanswer-Term
HowTlongTdoesTtheTcoverageTnormallyTremainTonTaTlimited-payTlifeTpolicy?T-TcorrectTanswer-ageT100
AllTofTtheseTstatementsTaboutTEquityTIndexedTLifeTInsuranceTareTcorrectTEXCEPT
T CashTvalueThasTaTminimumTrateTofTaccumulation
T IfTtheTgainTonTtheTindexTgoesTbeyondTtheTpolicy'sTminimumTrateTofTreturn,TtheTcashTvalueTwillTmirrorTthat
T ofTtheTindex
T TheTpremiumsTcanTbeTloweredTorTraised,TbasedTonTinvestmentTperformance
TiedTtoTanTequityTindexTsuchTasTtheTS&PT500T-TcorrectTanswer-
T
TheTpremiumsTcanTbeTloweredTorTraised,TbasedTonTinvestmentTperformance
WhichTofTtheseTisTanTelementTofTaTVariableTLifeTpolicy?T-TcorrectTanswer-ATfixed,TlevelTpremium
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