TEXAS STATE EXAM SIMULATOR
COMPREHENSIVE TEST PAPER WITH
SOLVED QUESTIONS
◉ Which of the following is an important underwriting principle
of group life insurance?
Answer: Everyone must be covered in the group
◉ Which of these terms accurately defines an underwriter's
assessment of information on a life insurance application?
Answer: Risk classification
◉ Which type of life policy contains a monthly mortality charge as
well as self-directed investment choices?
Answer: Variable Universal Life
◉ A plan through the Marketplace may be purchased by
Answer: any legal resident (except those imprisoned)
◉ Which of the following health insurance policy provisions
specifies the health care services a policy will provide?
Answer: Insuring clause
, ◉ P is a Major Medical policyowner who is hospitalized as a result
of injuries sustained from participating in a carjacking. How will
the insurer most likely handle this claim?
Answer: Claim will be denied
◉ An insurance company normally has 2 years to contest
information provided on an accident and health application. This
2 year period begins on the date that the:
Answer: Insurer dates the policy
◉ Under a trustee group life policy, who would be eligible for a
certificate of coverage?
Answer: Employee
◉ A 55 year old recently received a $30,000 distribution from a
previous employer's 401k plan, minus $6,000 withholding. Which
federal taxes apply if none of the funds were rolled over?
Answer: Income taxes plus a 10% penalty tax on $30,000
◉ When third-party ownership is involved, applicants who also
happen to be the stated primary beneficiary are required to have
Answer: insurable interest in the proposed insured
◉ In order to establish a Health Reimbursement Arrangement
(HRA), it MUST
Answer: be established by the employer
COMPREHENSIVE TEST PAPER WITH
SOLVED QUESTIONS
◉ Which of the following is an important underwriting principle
of group life insurance?
Answer: Everyone must be covered in the group
◉ Which of these terms accurately defines an underwriter's
assessment of information on a life insurance application?
Answer: Risk classification
◉ Which type of life policy contains a monthly mortality charge as
well as self-directed investment choices?
Answer: Variable Universal Life
◉ A plan through the Marketplace may be purchased by
Answer: any legal resident (except those imprisoned)
◉ Which of the following health insurance policy provisions
specifies the health care services a policy will provide?
Answer: Insuring clause
, ◉ P is a Major Medical policyowner who is hospitalized as a result
of injuries sustained from participating in a carjacking. How will
the insurer most likely handle this claim?
Answer: Claim will be denied
◉ An insurance company normally has 2 years to contest
information provided on an accident and health application. This
2 year period begins on the date that the:
Answer: Insurer dates the policy
◉ Under a trustee group life policy, who would be eligible for a
certificate of coverage?
Answer: Employee
◉ A 55 year old recently received a $30,000 distribution from a
previous employer's 401k plan, minus $6,000 withholding. Which
federal taxes apply if none of the funds were rolled over?
Answer: Income taxes plus a 10% penalty tax on $30,000
◉ When third-party ownership is involved, applicants who also
happen to be the stated primary beneficiary are required to have
Answer: insurable interest in the proposed insured
◉ In order to establish a Health Reimbursement Arrangement
(HRA), it MUST
Answer: be established by the employer
