Texas life insurance law - Study guides, Class notes & Summaries

Preneed Exam Prep Questions With Complete Solutions Latest Updated 2024/2025 (100% CORRECT) Joint Memorandum - Who What When Why - Answer- Who: DOB, FSC, TDI What: A joint agreement that established specific area of responsibilities for prepaid funeral svc . When: 1995 Why : its creation was mandated by the Texas Civil Statutes What is a preneed Funeral contract - Answer- Any written contract of agreement, funded by an insurance policy, annuity contract or trust deposit, for the purpo...

Life Insurance/ annuities 2-14 Questions and Answers Rated A+ Which of the following individuals MUST be licensed as an agent? A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary license to which of the following individuals? A surviving ...

Texas All lines adjuster license insurance terms Chapter 1 Exam Law of Large Numbers - ANSWERSthe more examples used to develop any statistic, the more reliable the statistic will be Underwriting - ANSWERSThe process and insurance company uses to decide whether to except or reject an application for a policy insurance. underwriters evaluate the risk and exposure of a potential policyholders they decide how much coverage the policyholder should receive how much they should pay for it or w...

Champions Texas Principles of Real Estate 2 Chapter quizzes with Complete Solutions The _____ lists all cash that came into and all expenses incurred by a property during the reporting period. a. Property management agreement b. Bank statement c. Cash flow report d. Leasing agreement c. Cash flow report (chapter 7) When a property is not well-maintained, the result is: a. Preventive maintenance b. Deferred maintenance c. Escalation clauses d. Assignment and sublet b. Defe...

What kind of professionals manage the legal aspects of a development project? - ANSWER Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? - ANSWER Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property is classified into what three types? - ANSWER Residential, Comm...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update Email me if you need answers LIFE SECTION 1 - LIFE SECTION 1 1) 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...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update LIFE SECTION 1 - LIFE SECTION 1 1) 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 yea...

WebCE (General Insurance & Life Insurance) Exam Questions and Answers | Latest Updated 2023/2024 (Graded). An insurance producer tells a life insurance applicant that he has the authority to waive the medical exam that is normally required by the insurer with every application. The insurer may be required to accept the application without a medical exam due to the producer's: implied authority express authority apparent authority imputed authority - apparent authority All of the followin...

Texas Life Insurance Glossary 100% solved Absolute Assignment - answerA transfer by the policyholder of all control and rights to a third party. Accumulation at Interest Option - answerA dividend or settlement option under which the policyholder allows his dividends or policy proceeds to accumulate interest with the company. Although the dividends or proceeds are not generally taxable, the interest earned is. Actuary - answerOne concerned with the application of probability and statistic...

A funeral prearrangement life insurance agent must be supervised - Correct Answer-By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Correct Answer-$15,000 A funeral prearrangement life insurance agent license expires when the agent - Correct Answer-Fails to submit a biannual renewal application and fee When an application for an insurance agent license...