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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE EXAM A, B AND STUDY GUIDE LATEST UPDATE THIS YEAR WITH OVER 600 QUESTIONS AND CORRECT ANSWERS JUST RELEASED $24.99
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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE EXAM A, B AND STUDY GUIDE LATEST UPDATE THIS YEAR WITH OVER 600 QUESTIONS AND CORRECT ANSWERS JUST RELEASED
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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE EXAM A, B AND STUDY GUIDE LATEST UPDATE THIS YEAR WITH OVER 600 QUESTIONS AND CORRECT ANSWERS JUST RELEASED

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  • October 11, 2024
  • 207
  • 2024/2025
  • Exam (elaborations)
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Page 1 of 207




TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH
INSURANCE EXAM A, B AND STUDY GUIDE LATEST
UPDATE THIS YEAR WITH OVER 600 QUESTIONS AND
CORRECT ANSWERS JUST RELEASED
TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE EXAM A

LIFE SECTION 1




QUESTION: 1) John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The
cash value will equal the face amount of the policy when he reaches the age of:

A- 60

B- 70

C- 100

D- 30C- 100




Explanation: Limited Pay Life insurance policies such as Life Paid Up at 65 or 20-Pay Life are
simply variations of Whole Life policies. The cash value will equal face amount of the policy (at
least) at the maturity of the policy, which is always age 100 on Whole Life policies. These
limited-pay policies are designed so that the insured may pay his or her premiums faster and be
"paid up" at a certain age. However, just because the premiums are paid up doesn't mean the
policy has matured.




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,Page 2 of 207




QUESTION: 2) Which of the following is an example of a Limited-Pay Life policy?

A- Universal life

B- Whole Life

C- Life Paid-Up at Age 65

D- Renewable Term to Age 70C- Life Paid-Up at Age 65




QUESTION: 3) 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 for 20 years

C- $50,000 20 Pay Life policy

D- $50,000 Decreasing Term policy for 20 yearsD—A $50,000 Decreasing Term policy for 20
years




Explanation: The key here is "minimum premium". Term is the most inexpensive type of
coverage. Since Sandra's $50,000 loan will be paid off over 20 years and the loan balance will
decrease each year, Decreasing Term makes sense. Decreasing Term is not renewable.




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,Page 3 of 207




QUESTION: 4) A 45-year old customer who is seeking to supplement his retirement income at
age 65 would not buy a:




A- Deferred Annuity

B- Equity Indexed Annuity

C- Variable Annuity

D- Immediate AnnuityB- Equity Indexed Annuity




QUESTION: 5) Which of the following policies provides the greatest amount of protection for an
insured's premium dollar as well as some cash accumulation?

A- Annuity

B- Whole Life

C- Term

D- Limited-Pay LifeB- Whole Life




If we had not mentioned cash accumulation, the answer would have been Term. However,
Term has no cash value, so the answer is Whole Life, which is the most inexpensive type of
permanent insurance and is required to have a cash value after the third policy year. Although
Limited Pay Life is a type of Whole Life, it is incorrect since it is usually quite expensive due to
the shortened pay-in period. Annuities have no cash value except the money the annuitant paid
in. Since there is no death benefit, no protection is offered.

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QUESTION: 6) Which of the following individual policy conversions is usually permitted without
any evidence of insurability?C- Conversion from a Term policy to a Whole Life policy




QUESTION: 7) Which of the following is NOT correct regarding Ordinary Whole Life policies?

A- The premiums payments are owed annually until you die or reach age 100

B- The cash value grows more quickly in the beginning years of the policy

C- Coverage lasts for your own life

D- Ordinary Whole Life is a type of permanent insuranceD- Ordinary Whole Life is a type of
permanent insurance




QUESTION: 8) Which of the following statements is true about the premium payment schedule
for a Whole Life policy?

A- Premiums are payable for a designated period of time only, after which coverage is no longer
provided




B- Premiums are payable until the insured's retirement only, after which coverage is continued
automatically until the insured's death




4

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