TEXAS LIFE INSURANCE EXAM
WITH VERIFIED QUESTIONS AND
ANSWERS 2026/2027
Who is considered a field underwriter? - ANSWER-An agent
When must insurable interest exist in life insurance? - ANSWER-Application or issue date
If no receipt is issued at the time of application, a statement of good health is usually required at the
time of? - ANSWER-Policy delivery
The Medical Information Bureau is?(MIB) - ANSWER-a source of medical information to alert insurers to
adverse medical history
A substandard risk compared to a standard risk would pay? - ANSWER-a higher premium
Which document describes specific information about policy provisions and benefits? - ANSWER-Policy
summary
Does not have an insurable interest? - ANSWER-Insured's best friend
What is the main source of underwriting information used by the company in the risk selection process?
- ANSWER-Application
An insured submits the full premium along with a completed application, and the policy is issued 10 days
later. When does the coverage begin? - ANSWER-On the date of application
, What is the main responsibility of a company's underwriting unit? - ANSWER-Risk selection and
classification
What best describes the USA PATRIOT Act with regards to the insurance industry? - ANSWER-To prevent
terrorism activities through monitoring of financial transactions
If the agent feels that could misrepresentation on the part of the applicant for insurance, what must the
agent do? - ANSWER-Inform the insurance comapny
Representations are statements made by the applicant that are? - ANSWER-Considered true to the best
of the applicant's knowledge
If an agent fails to obtain an applicants signature on the insurance application, the agent must? -
ANSWER-Return the application to the applicant for signature
What includes information regarding a person's credit, character, reputation, and habits? - ANSWER-
Consumer report
When the insured purchased a new home, he wanted to purchase a life insurance policy that would
protect his family against losing it should he die before the mortgage was paid. Which of the following
policies is best suitable for that need? - ANSWER-Decreasing term
An annually renewable term policy? - ANSWER-Renews each year with an increased premium
The time period during which an annuitant contributes to annuity is called? - ANSWER-The accumulation
period
An example of limited-pay life policy? - ANSWER-Life paid-up at the age 65
WITH VERIFIED QUESTIONS AND
ANSWERS 2026/2027
Who is considered a field underwriter? - ANSWER-An agent
When must insurable interest exist in life insurance? - ANSWER-Application or issue date
If no receipt is issued at the time of application, a statement of good health is usually required at the
time of? - ANSWER-Policy delivery
The Medical Information Bureau is?(MIB) - ANSWER-a source of medical information to alert insurers to
adverse medical history
A substandard risk compared to a standard risk would pay? - ANSWER-a higher premium
Which document describes specific information about policy provisions and benefits? - ANSWER-Policy
summary
Does not have an insurable interest? - ANSWER-Insured's best friend
What is the main source of underwriting information used by the company in the risk selection process?
- ANSWER-Application
An insured submits the full premium along with a completed application, and the policy is issued 10 days
later. When does the coverage begin? - ANSWER-On the date of application
, What is the main responsibility of a company's underwriting unit? - ANSWER-Risk selection and
classification
What best describes the USA PATRIOT Act with regards to the insurance industry? - ANSWER-To prevent
terrorism activities through monitoring of financial transactions
If the agent feels that could misrepresentation on the part of the applicant for insurance, what must the
agent do? - ANSWER-Inform the insurance comapny
Representations are statements made by the applicant that are? - ANSWER-Considered true to the best
of the applicant's knowledge
If an agent fails to obtain an applicants signature on the insurance application, the agent must? -
ANSWER-Return the application to the applicant for signature
What includes information regarding a person's credit, character, reputation, and habits? - ANSWER-
Consumer report
When the insured purchased a new home, he wanted to purchase a life insurance policy that would
protect his family against losing it should he die before the mortgage was paid. Which of the following
policies is best suitable for that need? - ANSWER-Decreasing term
An annually renewable term policy? - ANSWER-Renews each year with an increased premium
The time period during which an annuitant contributes to annuity is called? - ANSWER-The accumulation
period
An example of limited-pay life policy? - ANSWER-Life paid-up at the age 65
