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TX Life Agent Pearson VUE questions and answers
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TX Life Agent Pearson VUE
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Name: Score:94 Multiple choice questions
Definition 1 of 94
Which provision of a life insurance policy states that a copy of the application along with any
riders and amendments is part of the contract?
Annuity
Insuring
Irrevocable
Entire Contract clause
Definition 2 of 94
The MIB is all of the following EXCEPT
An independent investigating firm
A nonprofit trade organization
Underwriting applications
An aid to help insurers evaluate risk
Definition 3 of 94
A contact that can provide income for life and protect against outliving your money is an
Credit Life
Annuity
Perpetuity
Whole Life Insurance
,Definition 4 of 94
The Process of taking financial proceeds from illegal activites and placing them into financial
systems to disguise their origins is known as
Money Laundering
Annually
Insider Trading
Fraud
Definition 5 of 94
All the following are true about long term care riders EXCEPT
LTC will only pay benefits if the insured is under age 65
Ltc will pay benefits only for hospital stays
Ltc benefits are limited to nursing home care
Ltc benefits are available regardless of age
Definition 6 of 94
The policy that covers 2 or more lives and pays on the death of the last insured is
Credit Life
Ordinay Whole Life
Survivorship Life
Term Life
,Definition 7 of 94
If a buyer's guide and disclosure document are not provided to the applicant at or before the
time of application, the applicant must be allowed a free-look period of at least
15 calendar days
15 business days
5 business days
10 business days
Definition 8 of 94
Which of the following would NOT constitute replacement when a new policy is issued
Converting term insurance within the same company
Cancelling an existing policy to start a new one
Transferring a policy to a family member
Issuing a new policy with a different insurer
Definition 9 of 94
The time limit to convert from a group life policy to an individual permanent is
30 days
6 months
15 calendar days
31 days
, Definition 10 of 94
Which type of insurance would be most appropriate to use to pay off a mortgage in case the
insured dies prematurely
Variable Universal Life
Decreasing Term
Credit Life
Term Life
Definition 11 of 94
A group life insurance progrem in which the employer pays all the permium would be all the
following EXCEPT
Representations
Rebating
Consideration
Contributory
Definition 12 of 94
Which of the following is the least expensice method of paying life insurance
Monthly
30 Days
Annually
6 Months
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