TX GENERAL LINES LIFE, ACCIDENT
AND HEALTH EXAM PREP questions
with correct answers
Health |insurance |coverage |under |COBRA, |HIPAA |guarantees |that |the |person |will |- |correct |answer |-
Have |Acces |to |a |guaranteed-issue |individual |health |policy, |regardless |of |health
All |the |following |statements |about |ordinary |(or |straight) |whole |life |insurance |are |correct |- |correct |
answer |-The |cash |value |remains |level |throughout |the |life |of |the |policy
Which |activity |in |NOT |an |error |or |omission |that |makes |an |agent |or |producer |legally |to |both |the |
insurance |and |the |insure |- |correct |answer |-Placing |insurance |with |an |approved |surplus |line |insurer
All |the |following |statements |about |the |taxation |of |annuities |are |correct |EXEPT: |- |correct |answer |-
Qualified |annuities |are |taxes |no |different |than |no |qualified |annuities
Which |of |the |following |statements |about |utmost |good |faith |in |insurance |is |correct |- |correct |
answer |-Both |the |insurance |and |the |insurer |must |act |in |utmost |good |faith
Which |annuity |settlement |option |pays |income |for |the |annuitant's |life, |but |no |less |than |for |a |
specified |number |of |year |- |correct |answer |-Life |income |with |period |certain
Tim |has |paid |only |four |premium |totally |$1000 |on |his |health |insurance |policy |when |he |was |
diagnosed |with |cancer. |The |insurance |company |paid |more |than |$100.000 |to |cover |the |medical |
bills |for |his |treatments |which |of |the |following |characteristics |of |insurance |contracts |- |correct |
answer |-They |are |aleatory
Jack, |an |insurance |agent, |offers |free |season |football |tickets |to |anyone |who |buys |a |life |insurance |
policy |from |him. |This |sales |practice |is |called |- |correct |answer |-rebating
,After |Todd |was |injured |in |a |car |crash, |he |received |occupational |theyto |help |him |return |to |work. |
His |disability |income |policy |paid |for |this |therapy |because |it |had |- |correct |answer |-A |rehabilitation |
provision
If |a |small |employer |insurance |decides |to |terminate |all |small |employer |health |benefits |plans |it |
issues |in |TEXAS, |it |must |notify |the |TEXAS |commissioner |and |all |affected |employer |of |its |intent |to |
do |so |at |least |- |correct |answer |-At |least |180 |days |before |it |ends |coverage
Contract |characteristics |is |unique |to |insurance |contracts |but |NOT |all |contracts |- |correct |answer |-
Unilateral
When |first |meeting |prospective |insurance |applicants, |a |producer |must |give |them |a |document |that
|explains |the |general |features, |benefits, |and |condition |of |type |of |insurance |being |considered. |
Which |is |called |a |- |correct |answer |-Buyer's |Guide
Abby, |who |life |in |New |York |she |is |a |licensed |life |insurance |agent |, |wants |to |apply |fo |a |
nonresident |license |in |Texas. |To |do |so, |she |must |submit |which |of |the |following |to |TDI |- |correct |
answer |-An |aplicación, |few |and |letter |of |certification |from |her |home |state
Amanda |used |a |basic |illustration |to |help |Mark. |a |potencial |cliente, |de |understand |how |the |cash |
value |of |his |life |insurance |policy |would |grow. |Mark |then |agreed |to |buy |the |policy. |Which |of |the |
following |best |describes |Amanda's |duties |which |respect |to |delivering |a |copy |of |the |illustration |
used |- |correct |answer |-Amanda |must |deliver |a |signed |copy |ilustración |to |both |Mark |and |the |
insurer
With |respect |to |the |transfer-for-value |rule, |which |of |the |following |situations |would |result |in |the |
new |owner |being |subject |to |tax |on |the |policy's |gain |upon |the |insured's |death |- |correct |answer |-
Policy |is |sold |by |the |insured |to |neighborhood |in |exchange |for |cash
Which |of |the |following |describes |the |options |available |with |a |universal |life |insurance |policy |the |
owner |no |longer |wishes |to |maintain |- |correct |answer |-Surrender |the |policy |for |its |cash |value |or |
let |the |policy |continue |without |premium |until |the |cash |value |can |no |longer |cover |monthly |
deductions
, A |section |125 |cafeteria |plan |may |cover |which |of |these |expenses |- |correct |answer |-Health |
insurance |premiums
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 |producers: |- |correct |answer
|-Apparent |authority
A |long-term |care |rider |on |a |life |insurance |policy |will |pay |benefits |if |the |insured |is |diagnosed |as |
chronically |ill |due |to |which |of |the |following? |- |correct |answer |-Either |a |medical |or |cognitive |
(mental |health) |reason
Which |federal |law |group |health |plans |and |protects |their |enrollees |- |correct |answer |-A
What |type |of |state |regulation |gives |a |person |in |poor |health |or |with |a |pre-existing |condition |the |
opportunity |to |buy |health |insurance |- |correct |answer |-Guaranteed |issue
With |certain |limitations |a |policyowner |may |change |all |of |the |following |in |a |life |insurance |policy, |
EXCEPT: |- |correct |answer |-The |incontestability |provision
With |certain |limitations, |a |policyowner |may |change |all |of |the |following |in |a |life |insurance |policy, |
EXCEPT: |- |correct |answer |-A
Where |can |a |person |set |up |a |health |care |savings |account |(HSA) |- |correct |answer |-Financial |
institution
Which |statement |about |converting |coverage |under |a |children's |term |rider |is |correct |- |correct |
answer |-Conversion |is |possible |even |if |the |child |is |uninsurable, |and |the |converted |policy |coverage
|amount |may |be |greater |than |amount |provided |under |the |rider
Which |of |the |statements |regarding |the |replacement |of |a |life |insurance |policy |is |correct |- |correct |
answer |-Replacing |a |policy |will |require |the |insured |to |go |through |a |new |contestability
AND HEALTH EXAM PREP questions
with correct answers
Health |insurance |coverage |under |COBRA, |HIPAA |guarantees |that |the |person |will |- |correct |answer |-
Have |Acces |to |a |guaranteed-issue |individual |health |policy, |regardless |of |health
All |the |following |statements |about |ordinary |(or |straight) |whole |life |insurance |are |correct |- |correct |
answer |-The |cash |value |remains |level |throughout |the |life |of |the |policy
Which |activity |in |NOT |an |error |or |omission |that |makes |an |agent |or |producer |legally |to |both |the |
insurance |and |the |insure |- |correct |answer |-Placing |insurance |with |an |approved |surplus |line |insurer
All |the |following |statements |about |the |taxation |of |annuities |are |correct |EXEPT: |- |correct |answer |-
Qualified |annuities |are |taxes |no |different |than |no |qualified |annuities
Which |of |the |following |statements |about |utmost |good |faith |in |insurance |is |correct |- |correct |
answer |-Both |the |insurance |and |the |insurer |must |act |in |utmost |good |faith
Which |annuity |settlement |option |pays |income |for |the |annuitant's |life, |but |no |less |than |for |a |
specified |number |of |year |- |correct |answer |-Life |income |with |period |certain
Tim |has |paid |only |four |premium |totally |$1000 |on |his |health |insurance |policy |when |he |was |
diagnosed |with |cancer. |The |insurance |company |paid |more |than |$100.000 |to |cover |the |medical |
bills |for |his |treatments |which |of |the |following |characteristics |of |insurance |contracts |- |correct |
answer |-They |are |aleatory
Jack, |an |insurance |agent, |offers |free |season |football |tickets |to |anyone |who |buys |a |life |insurance |
policy |from |him. |This |sales |practice |is |called |- |correct |answer |-rebating
,After |Todd |was |injured |in |a |car |crash, |he |received |occupational |theyto |help |him |return |to |work. |
His |disability |income |policy |paid |for |this |therapy |because |it |had |- |correct |answer |-A |rehabilitation |
provision
If |a |small |employer |insurance |decides |to |terminate |all |small |employer |health |benefits |plans |it |
issues |in |TEXAS, |it |must |notify |the |TEXAS |commissioner |and |all |affected |employer |of |its |intent |to |
do |so |at |least |- |correct |answer |-At |least |180 |days |before |it |ends |coverage
Contract |characteristics |is |unique |to |insurance |contracts |but |NOT |all |contracts |- |correct |answer |-
Unilateral
When |first |meeting |prospective |insurance |applicants, |a |producer |must |give |them |a |document |that
|explains |the |general |features, |benefits, |and |condition |of |type |of |insurance |being |considered. |
Which |is |called |a |- |correct |answer |-Buyer's |Guide
Abby, |who |life |in |New |York |she |is |a |licensed |life |insurance |agent |, |wants |to |apply |fo |a |
nonresident |license |in |Texas. |To |do |so, |she |must |submit |which |of |the |following |to |TDI |- |correct |
answer |-An |aplicación, |few |and |letter |of |certification |from |her |home |state
Amanda |used |a |basic |illustration |to |help |Mark. |a |potencial |cliente, |de |understand |how |the |cash |
value |of |his |life |insurance |policy |would |grow. |Mark |then |agreed |to |buy |the |policy. |Which |of |the |
following |best |describes |Amanda's |duties |which |respect |to |delivering |a |copy |of |the |illustration |
used |- |correct |answer |-Amanda |must |deliver |a |signed |copy |ilustración |to |both |Mark |and |the |
insurer
With |respect |to |the |transfer-for-value |rule, |which |of |the |following |situations |would |result |in |the |
new |owner |being |subject |to |tax |on |the |policy's |gain |upon |the |insured's |death |- |correct |answer |-
Policy |is |sold |by |the |insured |to |neighborhood |in |exchange |for |cash
Which |of |the |following |describes |the |options |available |with |a |universal |life |insurance |policy |the |
owner |no |longer |wishes |to |maintain |- |correct |answer |-Surrender |the |policy |for |its |cash |value |or |
let |the |policy |continue |without |premium |until |the |cash |value |can |no |longer |cover |monthly |
deductions
, A |section |125 |cafeteria |plan |may |cover |which |of |these |expenses |- |correct |answer |-Health |
insurance |premiums
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 |producers: |- |correct |answer
|-Apparent |authority
A |long-term |care |rider |on |a |life |insurance |policy |will |pay |benefits |if |the |insured |is |diagnosed |as |
chronically |ill |due |to |which |of |the |following? |- |correct |answer |-Either |a |medical |or |cognitive |
(mental |health) |reason
Which |federal |law |group |health |plans |and |protects |their |enrollees |- |correct |answer |-A
What |type |of |state |regulation |gives |a |person |in |poor |health |or |with |a |pre-existing |condition |the |
opportunity |to |buy |health |insurance |- |correct |answer |-Guaranteed |issue
With |certain |limitations |a |policyowner |may |change |all |of |the |following |in |a |life |insurance |policy, |
EXCEPT: |- |correct |answer |-The |incontestability |provision
With |certain |limitations, |a |policyowner |may |change |all |of |the |following |in |a |life |insurance |policy, |
EXCEPT: |- |correct |answer |-A
Where |can |a |person |set |up |a |health |care |savings |account |(HSA) |- |correct |answer |-Financial |
institution
Which |statement |about |converting |coverage |under |a |children's |term |rider |is |correct |- |correct |
answer |-Conversion |is |possible |even |if |the |child |is |uninsurable, |and |the |converted |policy |coverage
|amount |may |be |greater |than |amount |provided |under |the |rider
Which |of |the |statements |regarding |the |replacement |of |a |life |insurance |policy |is |correct |- |correct |
answer |-Replacing |a |policy |will |require |the |insured |to |go |through |a |new |contestability
