100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Texas Life and Health Insurance Exam WITH COMPLETE SOLUTIONS 2023 $11.98   Add to cart
Quickly navigate to
Preview
  2.  
  3. Liberty University
  4.  
  5. Texas (TEXAS)

Exam (elaborations)

Texas Life and Health Insurance Exam WITH COMPLETE SOLUTIONS 2023
 4 views  0 purchase

1. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Treaty 2. 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 3. When third-party ownersh...

[Show more]

Preview 2 out of 15  pages

Document information

  • September 28, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • texas
  • texas life and health insurance exam with complete

Written for

All documents for this subject (16)

Seller

avatar-seller
MasterGrade

Reviews received

Content preview

Texas Life and Health Insurance Exam WITH
COMPLETE SOLUTIONS 2023

, Texas Life and Health Insurance Exam WITH
COMPLETE SOLUTIONS 2023



What type of reinsurance contract involves two companies automatically sharing their risk exposure?
correct answerTreaty



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 correct answerreserves



When third-party ownership is involved, applicants who also happen to be the stated primary
beneficiary are required to have correct answerinsurable interest



Statements made on an insurance application that are believed to be true to the best of the applicant's
knowledge are called correct answerrepresentations



The part of a life insurance policy guaranteed to be true is called a(n) correct answerwarranty



Which of these is NOT a type of agent authority?

Express

Implied

Principal

Apparent correct answerPrincipal



The Consideration clause of an insurance contract includes correct answerthe schedule and amount of
premium payments



E and F are business partners. Each takes out a $500,000 life insurance policy on the other, naming
himself as primary beneficiary. E and F eventually terminate their business, and four months later E dies.
Although E was married with three children at the time of death, the primary beneficiary is still F.
However, an insurable interest no longer exists. Where will the proceeds from E's life insurance policy
be directed to? correct answerIn this situation, the proceeds from E's life insurance policy will go to F.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller MasterGrade. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.98. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67866 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.98
  • (0)
  Add to cart