Texas Life and Health Insurance Exam.pdf file:///C:/Users/HP/Desktop/New%20folder/Texas%20Life%20and%2
Texas Life and Health Insurance Exam
Questions & Answers
1. Which of these characteristics is consistent with a Straight Life Policy?
Answer -
Premiums are payable for as long as there is insurance coverage in force
2. Which of the following are Equity Indexed annuities typically invested in?-
Answer S&P 500
3. Which of the following does Social Security NOT provide benefits for?
Answer Dis- memberment
4. An example of false advertising would be
Answer An insurer exaggerating its divi- dends in a magazine advertisement
1 of 30 12/16/2024, 5:42
,Texas Life and Health Insurance Exam.pdf file:///C:/Users/HP/Desktop/New%20folder/Texas%20Life%20and%2
5. A 45 year-old woman won $100,000 in a scratch-off lottery ticket. She
purchased an annuity that will pay her $1500 per month beginning at age 60.
Which of these annuities did this woman purchase?
Answer Deferred Fixed Annuity
6. Which of the following types of organizations are prepaid group health
plans, where members pay in advance for the services of participating physi-
cians and hospitals that have agreements?
Answer HMO
7. Which action will a life insurance company most likely take if an insured dies
and it is discovered that the insured's age was misstated on the applica- tion?
Answer Pay an amount the premiums would have purchased at the insured's actual
age
8. Q is looking to buy a life insurance policy that will provide the greatest
amount of protection for a temporary time period. Which of these policies
should Q purchase?
Answer Term Life
2 of 30 12/16/2024, 5:42
,Texas Life and Health Insurance Exam.pdf file:///C:/Users/HP/Desktop/New%20folder/Texas%20Life%20and%2
9. An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age?
Answer 59 ½
10. An applicant MUST receive an Outline of Coverage when an application is
taken for a(n)
Answer Medicare Supplement policy
11. Life insurance that covers an insured's whole life with level premiums paid
over a limited time is called
Answer Limited Pay Life
12. An individual has a Major Medical policy with a $5,000 deductible and an
80/20 Coinsurance clause. How much will the INSURED have to pay is a total of
$15,000 in covered medical expenses are incurred?
Answer $7000
$5,000 + 20% = $7,000
3 of 30 12/16/2024, 5:42
Texas Life and Health Insurance Exam
Questions & Answers
1. Which of these characteristics is consistent with a Straight Life Policy?
Answer -
Premiums are payable for as long as there is insurance coverage in force
2. Which of the following are Equity Indexed annuities typically invested in?-
Answer S&P 500
3. Which of the following does Social Security NOT provide benefits for?
Answer Dis- memberment
4. An example of false advertising would be
Answer An insurer exaggerating its divi- dends in a magazine advertisement
1 of 30 12/16/2024, 5:42
,Texas Life and Health Insurance Exam.pdf file:///C:/Users/HP/Desktop/New%20folder/Texas%20Life%20and%2
5. A 45 year-old woman won $100,000 in a scratch-off lottery ticket. She
purchased an annuity that will pay her $1500 per month beginning at age 60.
Which of these annuities did this woman purchase?
Answer Deferred Fixed Annuity
6. Which of the following types of organizations are prepaid group health
plans, where members pay in advance for the services of participating physi-
cians and hospitals that have agreements?
Answer HMO
7. Which action will a life insurance company most likely take if an insured dies
and it is discovered that the insured's age was misstated on the applica- tion?
Answer Pay an amount the premiums would have purchased at the insured's actual
age
8. Q is looking to buy a life insurance policy that will provide the greatest
amount of protection for a temporary time period. Which of these policies
should Q purchase?
Answer Term Life
2 of 30 12/16/2024, 5:42
,Texas Life and Health Insurance Exam.pdf file:///C:/Users/HP/Desktop/New%20folder/Texas%20Life%20and%2
9. An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age?
Answer 59 ½
10. An applicant MUST receive an Outline of Coverage when an application is
taken for a(n)
Answer Medicare Supplement policy
11. Life insurance that covers an insured's whole life with level premiums paid
over a limited time is called
Answer Limited Pay Life
12. An individual has a Major Medical policy with a $5,000 deductible and an
80/20 Coinsurance clause. How much will the INSURED have to pay is a total of
$15,000 in covered medical expenses are incurred?
Answer $7000
$5,000 + 20% = $7,000
3 of 30 12/16/2024, 5:42
