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A BUNDLE FOR CLAIMS-Texas Life and Health Insurance Exams with solutions $45.99   Add to cart

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A BUNDLE FOR CLAIMS-Texas Life and Health Insurance Exams with solutions

Texas Life and Health Insurance Exam with correct answers

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Texas Life and Health Insurance Exam with correct answers

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What type of reinsurance contract involves two companies automatically sharing their risk exposure? Treaty The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called reserves When third-party own...

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Texas Life and Health Insurance Exam with correct answers

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At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant MUST be informed of an investi...

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FINAL EXAM REVIEW WITH 100% CORRECT ANSWERS - Texas life and health

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If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision...

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Texas Health and Life Insurance Exam with correct answers

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Why does an insurer have a 2-year suicide clause? a) because the commissioner of insurance requires it. b) suicide is never paid for in life insurance. c)to prevent payment of an immediate claim for a person contemplating suicide. d) to help an insurer be more profitable. Answer: C To prevent ...

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Texas State Exam Simulator - Life and Health Insurance - correctly answered questions

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An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A...

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Texas Life and Health Insurance Exam 2023 with correct solutions

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Which of these characteristics is consistent with a Straight Life Policy? Premiums are payable for as long as there is insurance coverage in force Which of the following are Equity Indexed annuities typically invested in? S&P 500 Which of the following does Social Security NOT provid...

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Texas Life Insurance exam with correct solutions

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Who is considered a field underwriter? An agent When must insurable interest exist in life insurance? Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? Policy delivery The Medical Infor...

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Texas Life Insurance Exam with 100% correct answers

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urance (General concept) - transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - must exist at the time of the application - insuring one's own life, fami...

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Texas Life and Health Insurance Final Exam with 100% correct answers

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D is an architect receiving Disability Income benefits who is not able to return to work full time, but can work on a part-time basis. Which of these features would allow D to continue receiving benefits? *Residual Benefit clause *Waiver Benefit clause *Concurrent Benefit clause *Guaranteed Be...

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Texas Life and Health Insurance Practice Test with correcgtg answers

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T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? Increase her policy's coverage amount When an insurer issues a poli...

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Texas Life and Health Final Exam with 100% correct answers

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A certificate of _____ permits an insurance company to transact business in Texas. Authority Which of the following statements about Health Reimbursement Arrangements (HRA) is CORRECT? If the employee paid for qualified medical expenses, the reimbursements may be tax-free The individ...

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Texas Life Insurance Exam with correct solutions

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Convertible Term Life Insurance This optional form of term life insurance lets the policyowner convert the policy to a whole life policy without having to prove insurability. Ordinary Life Insurance This class of individual life insurance has many flexible options and features policies with...

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Texas life Insurance exam with complete solutions

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claimant a person who submits a claim for payment of benefits dividend a payment made by a policy (distribution of profits or returned of unused funds) lapse policy termination due to a non payment of premium Nonforfeiture Values benefits in a life insurance policy that the ...

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Texas life insurance exam with correct solutions

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Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? Variable Universal Life Insurance contracts are known as because certain future conditions or acts must occur before any claims can be paid. conditional Question Benefits for dr...

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texas life and health insurance exam 2023 with complete solutions

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What law protects consumers from the circulation of inaccurate or obsolete information? The Fair Credit Reporting Act What do individuals use to transfer their risk of loss to a larger group? Insurance What term describes the fee a person pays an insurance company to start coverage? ...

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Texas PLE - Life and Health Insurance exam practice with correct soplutions

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reserves the accounting measurement of an insurer's future obligations to its policy holders stock companies owned by stockholder, who get paid a share of the company's profit through dividends. NON_PAR mutual companies no stockholders, policy holders own the company. get paid thr...

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Life and Health Insurance Texas License Exam 2023 with correct answers

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The accounting measurement of an insurer's future obligations to its policy holders Reserves Who elects the governing body of a mutual insurance company? Policyholders A group owned insurance company that is formed to assume and spread liability risks of its members is known as Ris...

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TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP WITH COMPLETE SOLUTIONS

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Health insurance coverage under COBRA, HIPAA guarantees that the person will Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct The cash value remains level throughout the...

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Texas Life and Health State Exam Simulator- correctly answered

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The Universal Life Policy is called an unbundled Life Policy because the policyholder can see the expense charges, the interest earned, and the Cost of insurance The investment gains from a Universal Life Policy usually go toward the cash value What is the MINIMUM benefit period that...

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Insurance License Texas Life and Health-exam with complete solutions

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At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant must be informed of an investi...

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Texas Life and Health Final Exam questions with answers

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J purchased a Disability Income Policy that ONLY J can terminate and on which the rates will never increase above those illustrated in the policy. Which of the following types of policies did J purchase? Noncancelable What does a Face Amount Plus Cash Value Policy supposed to pay at the insu...

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PRACTICE EXAM OF TEXAS LIFE & HEALTH INSURANCE. "SECTION 2- TEXAS LIFE LAW"-verified answers

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1) "Twisting" is a commonly-used term describing: A- The making of misleading representations as to the financial condition of any insurer B- A misrepresentation made to a policyholder for the purpose of inducing the lapse, forfeiture, surrender, retention or conversion of any policy of insuranc...

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Texas Life Insurance exam questions with correct answers

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In a survivorship life policy, when does the insurer pay the death benefit? a) If the insured survives to age 100 b) Upon the last death c) Upon the first death d) Half at the first death, and half at the second death b) Upon the last death #3. A father owns a life insurance policy...

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Texas General Lines - Life, accident and health insurance PRACTICE EXAM questions with answers

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1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? A- $50,000 Whole Life policy B- $50,000 Level Term policy ...

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