TX PRENEED FUNERAL COMPREHENSIVE 2026 EXAM
QUESTIONS AND ANSWERS RATED A+
✔✔Defamation - ✔✔Act of harming or ruining another's reputation. Publishing &/or
making a false statement about a competitor
✔✔how long an applicant have to wait to reapply for insurance if its denied? -
✔✔minimum of 12 months
✔✔how long does an Agent have to report a fraudulent act to avoid disciplinary action?
- ✔✔within 30 days
✔✔Limited Pay Whole Life - ✔✔have level premiums that are limited to a certain
period(less than life). The period can be of any duration. Ex: 20-pay life, pay premiums
for 20 years and then you are fully covered until your 100.
✔✔Limited Pay Whole Life - ✔✔Premium amount will be more per Month for this límited
pay policy
✔✔Single Premium whole life insurance - ✔✔provides immediate protection and
provides a Cash surrender value from day, regardless of insured's age.
✔✔Interest Sensitive Whole Life Insurance - ✔✔if the company's earning performance
improves while the contract is in force, the owner of the policy may pay lower premiums
for the same benefits.
✔✔Deferred whole life insurance - ✔✔has a lower death benefit in the earlier years of
the policy. As time passes, the death benefit increases.
✔✔Lost of seller's permit - ✔✔if the seller fails to provide evidence of premiums paid,
keep all your receipts
✔✔What backs Up the guarantees of a company's fixed annuities? - ✔✔the assets in
the general account of an insurance company
✔✔tax deferral option - ✔✔annuities & life insurance share this benefit as long as
money remains in the contract
✔✔tax deferral option - ✔✔The interest earned during the accumulation period of a
deferred annuity has this option too
✔✔Incontestable Clause - ✔✔the insurer cannot contest the policy after it has been in
force two years during the insured's lifetime for any reason
, ✔✔Suicide Exclusion - ✔✔if insured commits suicide within 2 years of the policy issue
date, the death benefit will not be paid (usually will refund premiums paid to benefitiary
✔✔Embalming - ✔✔treating with preservatives to prevent decay. Its not required.
✔✔ Maximum about of prearranged funeral contract - ✔✔Unlimited (just needs to match
the Goods & Services
✔✔What is required of your supervisor? - ✔✔Neither years of experience or to be a
legal reserve life agent
✔✔What can cause an agent 's license to be revoked? - ✔✔If agent fails to renew the
license
✔✔What is included in agent's renewal? - ✔✔Completed application & Renewal Fee
✔✔What does GPL stand for? - ✔✔General Price List
✔✔What does GPL include? - ✔✔*Title in bold & all caps
*Provider's name, Address & phone
*Effective date
*Seller's Permit is not required
✔✔Does the Client need to return the GPL? - ✔✔No
✔✔What is required of the GPL? - ✔✔Disclosures for the GPL must use the idéntical
wording given in the FTC Funeral Rule.
✔✔What does GPL must disclose about cremation? - ✔✔That there are alternative
containers available for cremation
✔✔How does the General Price List work? - ✔✔must price each ítem or Service
separately
✔✔For how Long GPL should be kept on file? - ✔✔For 1 year after distribution to a
customer
✔✔What can not be declined by the purchaser in the GPL? - ✔✔the Basic services
✔✔Misrepresentation - ✔✔A false statement or lie that is unlawful & unethical hoping to
induce that customer make a purchase
✔✔unfair trade practices - ✔✔laws that prohibit wholesalers and retailers from selling
below cost. Neglecting to share or omiting a material fact.
QUESTIONS AND ANSWERS RATED A+
✔✔Defamation - ✔✔Act of harming or ruining another's reputation. Publishing &/or
making a false statement about a competitor
✔✔how long an applicant have to wait to reapply for insurance if its denied? -
✔✔minimum of 12 months
✔✔how long does an Agent have to report a fraudulent act to avoid disciplinary action?
- ✔✔within 30 days
✔✔Limited Pay Whole Life - ✔✔have level premiums that are limited to a certain
period(less than life). The period can be of any duration. Ex: 20-pay life, pay premiums
for 20 years and then you are fully covered until your 100.
✔✔Limited Pay Whole Life - ✔✔Premium amount will be more per Month for this límited
pay policy
✔✔Single Premium whole life insurance - ✔✔provides immediate protection and
provides a Cash surrender value from day, regardless of insured's age.
✔✔Interest Sensitive Whole Life Insurance - ✔✔if the company's earning performance
improves while the contract is in force, the owner of the policy may pay lower premiums
for the same benefits.
✔✔Deferred whole life insurance - ✔✔has a lower death benefit in the earlier years of
the policy. As time passes, the death benefit increases.
✔✔Lost of seller's permit - ✔✔if the seller fails to provide evidence of premiums paid,
keep all your receipts
✔✔What backs Up the guarantees of a company's fixed annuities? - ✔✔the assets in
the general account of an insurance company
✔✔tax deferral option - ✔✔annuities & life insurance share this benefit as long as
money remains in the contract
✔✔tax deferral option - ✔✔The interest earned during the accumulation period of a
deferred annuity has this option too
✔✔Incontestable Clause - ✔✔the insurer cannot contest the policy after it has been in
force two years during the insured's lifetime for any reason
, ✔✔Suicide Exclusion - ✔✔if insured commits suicide within 2 years of the policy issue
date, the death benefit will not be paid (usually will refund premiums paid to benefitiary
✔✔Embalming - ✔✔treating with preservatives to prevent decay. Its not required.
✔✔ Maximum about of prearranged funeral contract - ✔✔Unlimited (just needs to match
the Goods & Services
✔✔What is required of your supervisor? - ✔✔Neither years of experience or to be a
legal reserve life agent
✔✔What can cause an agent 's license to be revoked? - ✔✔If agent fails to renew the
license
✔✔What is included in agent's renewal? - ✔✔Completed application & Renewal Fee
✔✔What does GPL stand for? - ✔✔General Price List
✔✔What does GPL include? - ✔✔*Title in bold & all caps
*Provider's name, Address & phone
*Effective date
*Seller's Permit is not required
✔✔Does the Client need to return the GPL? - ✔✔No
✔✔What is required of the GPL? - ✔✔Disclosures for the GPL must use the idéntical
wording given in the FTC Funeral Rule.
✔✔What does GPL must disclose about cremation? - ✔✔That there are alternative
containers available for cremation
✔✔How does the General Price List work? - ✔✔must price each ítem or Service
separately
✔✔For how Long GPL should be kept on file? - ✔✔For 1 year after distribution to a
customer
✔✔What can not be declined by the purchaser in the GPL? - ✔✔the Basic services
✔✔Misrepresentation - ✔✔A false statement or lie that is unlawful & unethical hoping to
induce that customer make a purchase
✔✔unfair trade practices - ✔✔laws that prohibit wholesalers and retailers from selling
below cost. Neglecting to share or omiting a material fact.
