Texas Life and Health insurance exam
|Questions with 100% Correct Answers
What type of group plan involves employees sharing the cost? - ✔ ✔
contributory plan
A noncontributory group term life plan is characterized by - ✔ ✔ the entire cost
of the plan is paid for by the employer
W is a 39-year old female who just purchased an annuity to provide income for
life starting at age 60. All of these would be acceptable annuity choices EXCEPT
a(n)
-Flexible Premium Deferred annuity
-Variable annuity
-Immediate annuity
-Straight Life annuity - ✔ ✔ Immediate annuity
T has an annuity that guarantees an income payment for the rest of his life. The
contract also guarantees that if T dies before receiving payments for 20 years, the
remaining payments will be paid to his son for the balance of the 20 years. What
type of annuity is this? - ✔ ✔ Life Annuity with Period Certain
The annuity that represents the largest possible monthly payment to an individual
annuitant is a(n) - ✔ ✔ Straight Life annuity
,Which of these statements concerning an Individual Straight Life annuity is
accurate? - ✔ ✔ Payments are made to an annuitant for life
Which type of contract liquidates an estate through recurrent payments? -
✔ ✔ Annuity
P, age 50, purchased an annuity that P will fund with $500/ month for 15 years.
The annuity will then pay P retirement payments after the 15 years. Which type of
annuity did P purchase? - ✔ ✔ Deferred
One becomes eligible for Social Security disability benefits after having
been disabled for - ✔ ✔ 5 months
What is Old Age and Survivors Health Insurance (OASDHI) also known as? -
✔ ✔ Social Security
Q is severely injured in an automobile accident and becomes totally disabled.
How many months must Q be disabled before being able to apply for Social
Security disability benefits? - ✔ ✔ 5
Which product would best serve a retired individual looking to invest a lump-
sum of money through an insurance company? - ✔ ✔ Annuity
An IRA owner can start making withdrawals and NOT be subjected to a
tax penalty beginning at what age? - ✔ ✔ 59 1/2
, A Key Employee policy is taken out by Company X on its vice president. Ten years
later, this employee leaves Company X and begins working for Company Y. If this
individual were to die and the policy is still in force and unchanged, where would
the death proceeds be directed? - ✔ ✔ Company X
All students attending a large university could be covered by - ✔ ✔ a blanket policy
The Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for - ✔ ✔ health information
Which type of provider is known for stressing preventative medical care? -
✔ ✔ Health Maintenance Organizations (HMO's)
The individual who provides general medical care for a patient as well as the
referral for specialized care is known as a - ✔ ✔ Primary Care Physician
The health insurance program which is administered by each state and funded
by both the federal and state governments is called - ✔ ✔ Medicaid
Which of the following organizations would make reimbursement
payments directly to the insured individual for covered medical
expenditures? - ✔ ✔ Commercial insurer
What does Medicare Parts A and B cover? - ✔ ✔ Part A covers hospitalization;
Part B covers doctor's services
Medicare - ✔ ✔ is a hospital and medical expense insurance program
|Questions with 100% Correct Answers
What type of group plan involves employees sharing the cost? - ✔ ✔
contributory plan
A noncontributory group term life plan is characterized by - ✔ ✔ the entire cost
of the plan is paid for by the employer
W is a 39-year old female who just purchased an annuity to provide income for
life starting at age 60. All of these would be acceptable annuity choices EXCEPT
a(n)
-Flexible Premium Deferred annuity
-Variable annuity
-Immediate annuity
-Straight Life annuity - ✔ ✔ Immediate annuity
T has an annuity that guarantees an income payment for the rest of his life. The
contract also guarantees that if T dies before receiving payments for 20 years, the
remaining payments will be paid to his son for the balance of the 20 years. What
type of annuity is this? - ✔ ✔ Life Annuity with Period Certain
The annuity that represents the largest possible monthly payment to an individual
annuitant is a(n) - ✔ ✔ Straight Life annuity
,Which of these statements concerning an Individual Straight Life annuity is
accurate? - ✔ ✔ Payments are made to an annuitant for life
Which type of contract liquidates an estate through recurrent payments? -
✔ ✔ Annuity
P, age 50, purchased an annuity that P will fund with $500/ month for 15 years.
The annuity will then pay P retirement payments after the 15 years. Which type of
annuity did P purchase? - ✔ ✔ Deferred
One becomes eligible for Social Security disability benefits after having
been disabled for - ✔ ✔ 5 months
What is Old Age and Survivors Health Insurance (OASDHI) also known as? -
✔ ✔ Social Security
Q is severely injured in an automobile accident and becomes totally disabled.
How many months must Q be disabled before being able to apply for Social
Security disability benefits? - ✔ ✔ 5
Which product would best serve a retired individual looking to invest a lump-
sum of money through an insurance company? - ✔ ✔ Annuity
An IRA owner can start making withdrawals and NOT be subjected to a
tax penalty beginning at what age? - ✔ ✔ 59 1/2
, A Key Employee policy is taken out by Company X on its vice president. Ten years
later, this employee leaves Company X and begins working for Company Y. If this
individual were to die and the policy is still in force and unchanged, where would
the death proceeds be directed? - ✔ ✔ Company X
All students attending a large university could be covered by - ✔ ✔ a blanket policy
The Health Insurance Portability and Accountability Act (HIPAA) gives privacy
protection for - ✔ ✔ health information
Which type of provider is known for stressing preventative medical care? -
✔ ✔ Health Maintenance Organizations (HMO's)
The individual who provides general medical care for a patient as well as the
referral for specialized care is known as a - ✔ ✔ Primary Care Physician
The health insurance program which is administered by each state and funded
by both the federal and state governments is called - ✔ ✔ Medicaid
Which of the following organizations would make reimbursement
payments directly to the insured individual for covered medical
expenditures? - ✔ ✔ Commercial insurer
What does Medicare Parts A and B cover? - ✔ ✔ Part A covers hospitalization;
Part B covers doctor's services
Medicare - ✔ ✔ is a hospital and medical expense insurance program
