Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Questions and Answers 100% Pass

Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Questions and Answers 100% Pass Question 1 Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - Life income Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? - 24 hours Question 3 L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L has understated range on the application. Under the misstatement of age provision the insurer will? - Adjust the death benefits to a reduced amount Question 4 An example of false advertising would be? - And insurer exaggerating in dividends in a magazine advertisement Question 5 With whom an agent legally share commissions? - Another agent with the same line of insurance 2 | P a g e Emily Charlene © 2025, All Rights Reserved. Question 6 Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - Other agents Question 7 Which of these is not an example of doing insurance business? - Selling shares of stock Question 8 taking receipt of premiums and holding them for the insurance company is an example of? - Fiduciary responsibility Question 9 How does an indexed annuity differ from a fixed annuity? - Indexed annuity owners receive crediting interest time to the fluctuation of the linked index Question 10 which of the following policies combines investment choices with a form of Term coverage? - Variable universal life Question 11 How long does an insurance company appointment remain in force? - Until terminated Question 12 in Texas an individual life insurance policy is REQUIRED to have a grace period of? - 31 days Question 13 Which statement is TRUE regarding a variable whole life policy? - A minimum guaranteed death benefit is provided 3 | P a g e Emily Charlene © 2025, All Rights Reserved. Question 14 in an insurance contract the insurer is the only party who makes a - Unilateral Question 15 which of these is NOT considered to be an element of an insurance contract? - Negotiating Question 16 What does a 401(k) plan generally provide its participants? - Salary-deferral contributions Question 17 All these statements concerning Settlement Options are true, EXCEPT? - Only the beneficiary may select Question 18 A domestic insurance company in Texas is considered a company that? - Is incorporated and formed in Texas Question 19 Which of the following statements about non-contributory employee group life insurance is FALSE? - A minimum number of employees is required to partici