age 1 of 32
Insurance license practice XCEL solutions FINAL EXAM
#12 - Texas life only
Question 1
Which settlement option pays a stated amount to an annuitant,
but no residual value to a beneficiary? ......ANSWER........Life
income
Question 2
A new agent must complete at least _____ hours of continuing
education within 24 months of initial license? ......ANSWER........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
,age 2 of 32
understated range on the application. Under the misstatement of
age provision the insurer will? ......ANSWER........Adjust the death
benefits to a reduced amount
Question 4
An example of false advertising would be?
......ANSWER........And insurer exaggerating in dividends in a
magazine advertisement
Question 5
With whom an agent legally share commissions?
......ANSWER........Another agent with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the
following EXCEPT? ......ANSWER........Other agents
,age 3 of 32
Question 7
Which of these is not an example of doing insurance business?
......ANSWER........Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance
company is an example of? ......ANSWER........Fiduciary
responsibility
Question 9
How does an indexed annuity differ from a fixed annuity?
......ANSWER........Indexed annuity owners receive crediting
interest time to the fluctuation of the linked index
Question 10
, age 4 of 32
which of the following policies combines investment choices with
a form of Term coverage? ......ANSWER........Variable universal
life
Question 11
How long does an insurance company appointment remain in
force? ......ANSWER........Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have
a grace period of? ......ANSWER........31 days
Question 13
Which statement is TRUE regarding a variable whole life policy?
......ANSWER........A minimum guaranteed death benefit is
provided
Insurance license practice XCEL solutions FINAL EXAM
#12 - Texas life only
Question 1
Which settlement option pays a stated amount to an annuitant,
but no residual value to a beneficiary? ......ANSWER........Life
income
Question 2
A new agent must complete at least _____ hours of continuing
education within 24 months of initial license? ......ANSWER........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
,age 2 of 32
understated range on the application. Under the misstatement of
age provision the insurer will? ......ANSWER........Adjust the death
benefits to a reduced amount
Question 4
An example of false advertising would be?
......ANSWER........And insurer exaggerating in dividends in a
magazine advertisement
Question 5
With whom an agent legally share commissions?
......ANSWER........Another agent with the same line of insurance
Question 6
Insurance agent as a fiduciary responsibility to all of the
following EXCEPT? ......ANSWER........Other agents
,age 3 of 32
Question 7
Which of these is not an example of doing insurance business?
......ANSWER........Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance
company is an example of? ......ANSWER........Fiduciary
responsibility
Question 9
How does an indexed annuity differ from a fixed annuity?
......ANSWER........Indexed annuity owners receive crediting
interest time to the fluctuation of the linked index
Question 10
, age 4 of 32
which of the following policies combines investment choices with
a form of Term coverage? ......ANSWER........Variable universal
life
Question 11
How long does an insurance company appointment remain in
force? ......ANSWER........Until terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have
a grace period of? ......ANSWER........31 days
Question 13
Which statement is TRUE regarding a variable whole life policy?
......ANSWER........A minimum guaranteed death benefit is
provided
