Life Insurance Exam Question (Texas)
Actual Exam Questions & Correct,
Certified Solutions / .
_____________Quiz____________?
Which of the following is considered a field underwriter? -
Answer✓✓
An agent
_____________Quiz____________?
When must insurable interest exist in life insurance? -
Answer✓✓
Application or issues date
_____________Quiz____________?
If no receipt is issued at the time application, a statement of good health is usually required
at the time of -
Answer✓✓
Policy Delivery
_____________Quiz____________?
The Medical Information Bureau is -
Answer✓✓
A source of medical information to alert insurers to adverse medical history
1
, _____________Quiz____________?
A substandard risk compared to a standard risk would pay -
Answer✓✓
A higher premium
_____________Quiz____________?
Which of the following documents describes specific information about policy provisions
and benefits? -
Answer✓✓
Policy Summary
_____________Quiz____________?
All the following may have an insurable interest in the insured EXCEPT -
Answer✓✓
Insured's best friend
_____________Quiz____________?
Which of the following would be the main source of underwriting information used by the
company in the risk selection process? -
Answer✓✓
Application
"90% information comes from the application"
_____________Quiz____________?
An insured submits the full premium along with a completed application, and the policy is
issued 10 days later. When does the coverage begin? -
Answer✓✓
2
, On the date of the application
_____________Quiz____________?
What is the main responsibility of a company's underwriting unit? -
Answer✓✓
Risk selection and classification( preferred, standard, substandard)
_____________Quiz____________?
Which of the following best describes the purpose of the USA PATRIOT Act with regards to
the insurance, what must the agent do? -
Answer✓✓
Inform the insurance company
_____________Quiz____________?
If the agent feels that there could be misrepresentation on the part of the applicant for
insurance, what must the agent do? -
Answer✓✓
Inform the insurance company
_____________Quiz____________?
Representations are statements made by the applicant that are -
Answer✓✓
Considered true to the best of the applicant's knowledge
_____________Quiz____________?
If an agent fails to obtain an applicant's signature on the insurance application, the agent
must -
Answer✓✓
3
, Return the application to the applicant for a signature.
_____________Quiz____________?
Which of the following includes information regarding a person's credit, character,
reputation, and habits? -
Answer✓✓
Consumers report
_____________Quiz____________?
What is insurance? -
Answer✓✓
is a contract in which one party (the insurance company) agrees to idemnify (make whole)
the insured party against loss, damage or liability arising from an unknown event.
_____________Quiz____________?
Representation are statements made by the applicant for insurance that are -
Answer✓✓
True to the best of the applicant's knowledge.
_____________Quiz____________?
Insurable interest must exist at the time of -
Answer✓✓
application
_____________Quiz____________?
A warranty is an -
Answer✓✓
absolutely true statement
4
Actual Exam Questions & Correct,
Certified Solutions / .
_____________Quiz____________?
Which of the following is considered a field underwriter? -
Answer✓✓
An agent
_____________Quiz____________?
When must insurable interest exist in life insurance? -
Answer✓✓
Application or issues date
_____________Quiz____________?
If no receipt is issued at the time application, a statement of good health is usually required
at the time of -
Answer✓✓
Policy Delivery
_____________Quiz____________?
The Medical Information Bureau is -
Answer✓✓
A source of medical information to alert insurers to adverse medical history
1
, _____________Quiz____________?
A substandard risk compared to a standard risk would pay -
Answer✓✓
A higher premium
_____________Quiz____________?
Which of the following documents describes specific information about policy provisions
and benefits? -
Answer✓✓
Policy Summary
_____________Quiz____________?
All the following may have an insurable interest in the insured EXCEPT -
Answer✓✓
Insured's best friend
_____________Quiz____________?
Which of the following would be the main source of underwriting information used by the
company in the risk selection process? -
Answer✓✓
Application
"90% information comes from the application"
_____________Quiz____________?
An insured submits the full premium along with a completed application, and the policy is
issued 10 days later. When does the coverage begin? -
Answer✓✓
2
, On the date of the application
_____________Quiz____________?
What is the main responsibility of a company's underwriting unit? -
Answer✓✓
Risk selection and classification( preferred, standard, substandard)
_____________Quiz____________?
Which of the following best describes the purpose of the USA PATRIOT Act with regards to
the insurance, what must the agent do? -
Answer✓✓
Inform the insurance company
_____________Quiz____________?
If the agent feels that there could be misrepresentation on the part of the applicant for
insurance, what must the agent do? -
Answer✓✓
Inform the insurance company
_____________Quiz____________?
Representations are statements made by the applicant that are -
Answer✓✓
Considered true to the best of the applicant's knowledge
_____________Quiz____________?
If an agent fails to obtain an applicant's signature on the insurance application, the agent
must -
Answer✓✓
3
, Return the application to the applicant for a signature.
_____________Quiz____________?
Which of the following includes information regarding a person's credit, character,
reputation, and habits? -
Answer✓✓
Consumers report
_____________Quiz____________?
What is insurance? -
Answer✓✓
is a contract in which one party (the insurance company) agrees to idemnify (make whole)
the insured party against loss, damage or liability arising from an unknown event.
_____________Quiz____________?
Representation are statements made by the applicant for insurance that are -
Answer✓✓
True to the best of the applicant's knowledge.
_____________Quiz____________?
Insurable interest must exist at the time of -
Answer✓✓
application
_____________Quiz____________?
A warranty is an -
Answer✓✓
absolutely true statement
4
