Texas life and Texas Health
Insurance Exam Review
Questions and Answers 100%
PASS
The type of settlement option which pays through the lifetimes of two or
more beneficiaries is called? - CORRECT ANSWER-Joint and survivor
The automatic premium loan provision is activated at the end of the -
CORRECT ANSWER-Grace period
When would a misrepresentation on the insurance application be considered
fraud? - CORRECT ANSWER-If it is intentional and material
All of the following are duties and responsibilities of procedures at the time
of applications except - CORRECT ANSWER-Change any incorrect statement
on the application by personally initaling next to the corrected statement
An insured pays a $100 premium every month for his insurance coverage,
yet the insurer promises to pay $10,000 for a covered loss. What
characteristic of an insurance contract does this discribe? - CORRECT
ANSWER-Aleatory
, Because of insurance policy is a legal contract, it must confirm to the state
laws governing contracts with require all of the following elements except -
CORRECT ANSWER-Conditions
Who can request changes in premium payments, face value, loans, and
policy plans? - CORRECT ANSWER-Policy owner
Which of the following is true of a qualified plan? - CORRECT ANSWER-It
has a tax benefit for both employer and employee
All of the following are true regarding a decreasing term policy except -
CORRECT ANSWER-The payable premium amount of steadily declines
throughout the duration of the contract
The type of policy can be changed from one that does not accumulate cash
value to the one that does is a - CORRECT ANSWER-Convertible term policy
The minimum interest rate on an equity indexed annuity is often based on -
CORRECT ANSWER-An index like standard and poor 500
Which of the following is true of a children's rider added to an insured's
permanent life insurance and policy? - CORRECT ANSWER-it is a term
overage that is convertible to permanent insurance at or prior to the child
reaching the maximum coverage age.
The insured had his wife named as the beneficiary of his life insurance
policy. To enure that his wife had income for a life after the insured's, he
chose the life income settlement option. The amount of payments will be
determined by taking into account all of the following except - CORRECT
ANSWER-The insured's age at death
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
Insurance Exam Review
Questions and Answers 100%
PASS
The type of settlement option which pays through the lifetimes of two or
more beneficiaries is called? - CORRECT ANSWER-Joint and survivor
The automatic premium loan provision is activated at the end of the -
CORRECT ANSWER-Grace period
When would a misrepresentation on the insurance application be considered
fraud? - CORRECT ANSWER-If it is intentional and material
All of the following are duties and responsibilities of procedures at the time
of applications except - CORRECT ANSWER-Change any incorrect statement
on the application by personally initaling next to the corrected statement
An insured pays a $100 premium every month for his insurance coverage,
yet the insurer promises to pay $10,000 for a covered loss. What
characteristic of an insurance contract does this discribe? - CORRECT
ANSWER-Aleatory
, Because of insurance policy is a legal contract, it must confirm to the state
laws governing contracts with require all of the following elements except -
CORRECT ANSWER-Conditions
Who can request changes in premium payments, face value, loans, and
policy plans? - CORRECT ANSWER-Policy owner
Which of the following is true of a qualified plan? - CORRECT ANSWER-It
has a tax benefit for both employer and employee
All of the following are true regarding a decreasing term policy except -
CORRECT ANSWER-The payable premium amount of steadily declines
throughout the duration of the contract
The type of policy can be changed from one that does not accumulate cash
value to the one that does is a - CORRECT ANSWER-Convertible term policy
The minimum interest rate on an equity indexed annuity is often based on -
CORRECT ANSWER-An index like standard and poor 500
Which of the following is true of a children's rider added to an insured's
permanent life insurance and policy? - CORRECT ANSWER-it is a term
overage that is convertible to permanent insurance at or prior to the child
reaching the maximum coverage age.
The insured had his wife named as the beneficiary of his life insurance
policy. To enure that his wife had income for a life after the insured's, he
chose the life income settlement option. The amount of payments will be
determined by taking into account all of the following except - CORRECT
ANSWER-The insured's age at death
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
