Texas Life Insurance Exam | Questions & Answers
Already Passed| Updated 2024
P completes an application for a $10,000 life policy, but does not give
the producer the initial premium. P's coverage becomes effective when -
Answer P receives the policy and pays the premium
A potential client, age...
Texas Life Insurance Exam | Questions & Answers Already Passed| Updated 2024 P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - Answer ✓✓P receives the policy and pays the premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be carrer? - Answer ✓✓20-Pay Life accumulates cash value faster than Straight Life How does an indexed annuity differ from a fixed annuity ? - Answer ✓✓Indexed annuity owners receive credited interest tied to the fluctuations of the linked index During a sales presentation for a participating life insurance policy, an agent MUST - Answer ✓✓make a prospect understand that dividends are NOT guaranteed T is covered by an Accidental Death and Dismemberment (AD&D) policy that has an irrevocable eneficiary. What action will the insurance company take if I requests a change of beneficiary? - Answer ✓✓request of the change will be refused Which provision allows the policyowner to change a term life policy to a permanent one without providing proof of good health? - Answer ✓✓conversion T has a term policy that allows him to continue the coverage after expiration of the initial policy period What type of term coverage is this? - Answer ✓✓renewable Which of the following is NOT a required provision in group life policies? - Answer ✓✓Right to loan The Insurance Commissioner must give how many days notice prior to holding a hearing regarding an agent's unfair or deceptive practice? - Answer ✓✓30 The Accelerated Death Benefit provision in a life insurance policy is also known as a(n) ) - Answer ✓✓Living Benefit In Texas, an individual life insurance policy is required to have a grace period of - Answer ✓✓31 days Which statement is correct regarding the premium payment schedule for whole life policies? - Answer ✓✓Premiums are payable throughout the insured's lifetime/ coverage lasts until death of the insured Company Z has a Cross Purchase Buy -Sell Agreement in place among its three founding partners. If the agreement is funded with individual life insurance, what would it require? - Answer ✓✓Each partner must own a policy on the other partners Why would the Insurance Commissioner examine the records of an insurance company? - Answer ✓✓To determine the solvency of the company Which of the following features of a group Term Life policy enables an individual to leave the group and continue his or her insurance without providing evidence of insurability? - Answer ✓✓Conversion privilege Taking receipt of premiums and holding them for the insurance company is an example of: - Answer ✓✓fiduciary responsibility
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur EmilyCharlene. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €12,31. Vous n'êtes lié à rien après votre achat.
