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TEXAS INSURANCE LICENSE EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$17.99
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TEXAS INSURANCE LICENSE EXAM 2024
ACTUAL EXAM 2 VERSIONS (VERSION A
AND B) COMPLETE 500 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
VERSION A
A pilot applies for Life insurance. The insurer
approves the application with a $10 additional
monthly premium modification due to the risk
involved. The pilot declines the additional premium
modification.
The insurer will then likely issue the coverage with
a(n) - ....ANSWER...Aviation exclusion
If an insured's age was misstated on a life insurance
contract, the Misstatement of Age provision requires
that any death benefit payable would be -
....ANSWER...an amount that the premiums paid
would have purchased at the current age
,A Nonforfeiture clause gives the policyowner -
....ANSWER...guaranteed values even if the policy has
lapsed
One becomes eligible for Social Security disability
benefits after having been disabled for: -
....ANSWER...5 months
Insurance policies are considered aleatory contracts
because - ....ANSWER...performance is conditioned
upon a future occurrence
What type of rider would be added to an Accident
and Health policy if the policyowner wants to ensure
the policy will continue it he/she ever becomes
totally disabled? - ....ANSWER...Waiver of Premium
rider
J is issued a Life Insurance policy with a death
benefit of $100,000. She pays $600 per year in
premium for the first 5 years. The premium then
increases to $900 per year in the sixth year, and
remains level thereafter. The policy's death benefit
also remains at $100,000. Which type of Life
,Insurance policy is this? - ....ANSWER...Modified
Premium Life
varable Whole Life Insurance can be described as. -
....ANSWER...both an insurance and securities
product
This type of deductible provision waives the
deductible for all family members after some of
them have satisfied individual deductibles within the
same year. - ....ANSWER...Family maximum
deductible
How long does an insurance company appointment
remain in force? - ....ANSWER...Until terminated
___ of continuing education must be completed in the
classroom or classroom equivalent -
....ANSWER...50%
A 15-year mortgage is best protected by what kind of
life policy? - ....ANSWER...15-year decreasing term
, A certificate of _____ permits, and insurance
company to transact business in Texas -
....ANSWER...authority
A cost of living rider gives the insured -
....ANSWER...additional death benefits
A domestic insurance company in Texas is
considered a company that - ....ANSWER...is
incorporated and formed in Texas
A foreign insurance company conducting insurance
business in Texas - ....ANSWER...was formed under
the laws of another state
A license may be denied suspended or revoked if the
licensee - ....ANSWER...is found guilty of
misrepresentation in obtaining the license
A life policy that contains a monthly mortality charge
as well as self-directed investment choices is called
a(n) - ....ANSWER...Variable universal life policy
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