Texas Life Insurance Exam 2026 | All
Questions and Correct Answers |
Verified Answers | Brand New Version |
Just Released
How long does the coverage normally remain on a limited-pay life policy? ---------
CORRECT ANSWER-----------------Age 100
How long can a cash surrender value payment be deferred by the insurance
company under the Nonforfeiture Law? ---------CORRECT ANSWER-----------------6
months
N purchases an annuity by making payments in an amount no less than $100
quarterly. This describes which of the following annuities? ---------CORRECT
ANSWER-----------------Flexible Installment Deferred
The Consideration clause of an insurance contract includes: ---------CORRECT
ANSWER-----------------the schedule and amount of premium payments
What type of employee welfare plans are not subject to ERISA regulations? --------
-CORRECT ANSWER-----------------Church plans
,A policyowner is allowed to pay premiums more than once a year under which
provision? ---------CORRECT ANSWER-----------------Mode of Premium
Which of these is an element of a Single Premium annuity? ---------CORRECT
ANSWER-----------------Lump-sum payment
Insurance policies are considered aleatory contracts because ---------CORRECT
ANSWER-----------------performance is conditioned upon a future occurrence
F needs life insurance that provides coverage for only a limited amount of time
with a death benefit that changes regularly according to a schedule. What kind of
policy is needed? ---------CORRECT ANSWER-----------------Decreasing term policy
To terminate an agent's appointment, an insurance company must ---------
CORRECT ANSWER-----------------Send termination notice to the Texas Department
of Insurance
The annuity that represents the largest possible monthly payment to an individual
annuitant is a(n) ---------CORRECT ANSWER-----------------Straight Life annuity
,An example of false advertising would be ---------CORRECT ANSWER-----------------
An insurer exaggerating its dividends in a magazine advertisement
A new agent must complete at LEAST_ licensure. hours of continuing education
within 24 months of initial ---------CORRECT ANSWER-----------------24
An insured may assign up toof policy ownership under an individual life insurance
policy ---------CORRECT ANSWER-----------------100%
Which statement regarding the Change of Beneficiary provision is true? ---------
CORRECT ANSWER-----------------The policyowner can change the beneficiary
Which of the following is NOT included in a life insurance illustration? ---------
CORRECT ANSWER-----------------Company's mortality table
The automatic premium loan provision is designed to ---------CORRECT ANSWER---
--------------avoid a policy lapse
, A term life insurance policy matures: ---------CORRECT ANSWER-----------------upon
the insured's death during the term of the policy
Which of the following provisions guarantees that premiums will be waived if a
Juvenile Life policyowner becomes disabled? ---------CORRECT ANSWER---------------
--Payor clause
All are true statements regarding the underwriting process, EXCEPT: ---------
CORRECT ANSWER-----------------AIDS and HIV virus exams can be conducted in a
discriminatory fashion
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, EXCEPT: ---------CORRECT ANSWER-----------------
bilateral
Tom has a qualified retirement plan with his employer that is currently considered
to be 80% "vested". How can this be interpreted? ---------CORRECT ANSWER--------
---------If Tom's employment is terminated, 20% of the funds would be forfeited
T applies for a life insurance policy and is told by the producer that the insurer is
bound to the coverage as of the date of the application or medical examination,
whichever is later. Assuming that T is an acceptable risk, what item is given to T? -
--------CORRECT ANSWER-----------------Conditional receipt
Questions and Correct Answers |
Verified Answers | Brand New Version |
Just Released
How long does the coverage normally remain on a limited-pay life policy? ---------
CORRECT ANSWER-----------------Age 100
How long can a cash surrender value payment be deferred by the insurance
company under the Nonforfeiture Law? ---------CORRECT ANSWER-----------------6
months
N purchases an annuity by making payments in an amount no less than $100
quarterly. This describes which of the following annuities? ---------CORRECT
ANSWER-----------------Flexible Installment Deferred
The Consideration clause of an insurance contract includes: ---------CORRECT
ANSWER-----------------the schedule and amount of premium payments
What type of employee welfare plans are not subject to ERISA regulations? --------
-CORRECT ANSWER-----------------Church plans
,A policyowner is allowed to pay premiums more than once a year under which
provision? ---------CORRECT ANSWER-----------------Mode of Premium
Which of these is an element of a Single Premium annuity? ---------CORRECT
ANSWER-----------------Lump-sum payment
Insurance policies are considered aleatory contracts because ---------CORRECT
ANSWER-----------------performance is conditioned upon a future occurrence
F needs life insurance that provides coverage for only a limited amount of time
with a death benefit that changes regularly according to a schedule. What kind of
policy is needed? ---------CORRECT ANSWER-----------------Decreasing term policy
To terminate an agent's appointment, an insurance company must ---------
CORRECT ANSWER-----------------Send termination notice to the Texas Department
of Insurance
The annuity that represents the largest possible monthly payment to an individual
annuitant is a(n) ---------CORRECT ANSWER-----------------Straight Life annuity
,An example of false advertising would be ---------CORRECT ANSWER-----------------
An insurer exaggerating its dividends in a magazine advertisement
A new agent must complete at LEAST_ licensure. hours of continuing education
within 24 months of initial ---------CORRECT ANSWER-----------------24
An insured may assign up toof policy ownership under an individual life insurance
policy ---------CORRECT ANSWER-----------------100%
Which statement regarding the Change of Beneficiary provision is true? ---------
CORRECT ANSWER-----------------The policyowner can change the beneficiary
Which of the following is NOT included in a life insurance illustration? ---------
CORRECT ANSWER-----------------Company's mortality table
The automatic premium loan provision is designed to ---------CORRECT ANSWER---
--------------avoid a policy lapse
, A term life insurance policy matures: ---------CORRECT ANSWER-----------------upon
the insured's death during the term of the policy
Which of the following provisions guarantees that premiums will be waived if a
Juvenile Life policyowner becomes disabled? ---------CORRECT ANSWER---------------
--Payor clause
All are true statements regarding the underwriting process, EXCEPT: ---------
CORRECT ANSWER-----------------AIDS and HIV virus exams can be conducted in a
discriminatory fashion
All of the following are considered to be typical characteristics describing the
nature of an insurance contract, EXCEPT: ---------CORRECT ANSWER-----------------
bilateral
Tom has a qualified retirement plan with his employer that is currently considered
to be 80% "vested". How can this be interpreted? ---------CORRECT ANSWER--------
---------If Tom's employment is terminated, 20% of the funds would be forfeited
T applies for a life insurance policy and is told by the producer that the insurer is
bound to the coverage as of the date of the application or medical examination,
whichever is later. Assuming that T is an acceptable risk, what item is given to T? -
--------CORRECT ANSWER-----------------Conditional receipt
