Texas Health and Life Insurance
ExamFX Questions and Answers |
Latest Version | 2025/2026 | Correct &
Verified
What is a grace period in life insurance?
A. Immediate coverage termination
✔✔B. Extra time to pay premium without losing coverage
C. Reduced death benefit
D. Policy cancellation
What is an irrevocable beneficiary?
A. Can be changed anytime
✔✔B. Cannot be changed without beneficiary consent
C. Only applies to term life
D. Applies only to group insurance
Which life insurance policy allows partial withdrawals of cash value?
A. Term life
✔✔B. Universal life
C. Group term
D. Accidental death
1
,What is an accidental death benefit?
✔✔A. Pays extra if death occurs due to accident
B. Refunds premiums
C. Reduces cash value
D. Pays for medical bills
Which rider allows a disabled insured to skip premium payments?
A. Accidental death rider
✔✔B. Waiver of premium rider
C. Guaranteed insurability rider
D. Children’s term rider
What is a conversion option in group term life insurance?
A. Change beneficiary
✔✔B. Convert to individual permanent policy without medical exam
C. Reduce premium
D. Cancel coverage
Which health insurance covers lost income due to illness or injury?
A. Major medical
✔✔B. Disability income insurance
C. Term life insurance
D. Long-term care insurance
2
,What is a copayment in health insurance?
A. Maximum policy limit
✔✔B. Fixed amount paid per service
C. Deductible
D. Coinsurance
Which type of health insurance pays a fixed amount for each day in the hospital?
A. Disability insurance
B. Major medical insurance
✔✔C. Hospital indemnity insurance
D. Long-term care insurance
What is coinsurance?
A. Premium payment
✔✔B. Percentage of costs shared between insurer and insured
C. Deductible
D. Policy limit
Which provision in a health policy outlines duties after a loss?
A. Declarations
✔✔B. Conditions
C. Insuring agreement
3
, D. Exclusions
What is a pre-existing condition?
A. New illness after policy issuance
✔✔B. Condition existing before policy issuance
C. Injury caused by accident
D. Condition excluded by choice
Which health insurance plan requires members to use network providers?
✔✔A. HMO
B. PPO
C. POS
D. Indemnity
What is a deductible?
A. Coinsurance
B. Premium payment
✔✔C. Amount the insured pays before benefits apply
D. Maximum benefit
Which type of life insurance allows cash value to fluctuate with investments?
A. Term life
B. Whole life
4
ExamFX Questions and Answers |
Latest Version | 2025/2026 | Correct &
Verified
What is a grace period in life insurance?
A. Immediate coverage termination
✔✔B. Extra time to pay premium without losing coverage
C. Reduced death benefit
D. Policy cancellation
What is an irrevocable beneficiary?
A. Can be changed anytime
✔✔B. Cannot be changed without beneficiary consent
C. Only applies to term life
D. Applies only to group insurance
Which life insurance policy allows partial withdrawals of cash value?
A. Term life
✔✔B. Universal life
C. Group term
D. Accidental death
1
,What is an accidental death benefit?
✔✔A. Pays extra if death occurs due to accident
B. Refunds premiums
C. Reduces cash value
D. Pays for medical bills
Which rider allows a disabled insured to skip premium payments?
A. Accidental death rider
✔✔B. Waiver of premium rider
C. Guaranteed insurability rider
D. Children’s term rider
What is a conversion option in group term life insurance?
A. Change beneficiary
✔✔B. Convert to individual permanent policy without medical exam
C. Reduce premium
D. Cancel coverage
Which health insurance covers lost income due to illness or injury?
A. Major medical
✔✔B. Disability income insurance
C. Term life insurance
D. Long-term care insurance
2
,What is a copayment in health insurance?
A. Maximum policy limit
✔✔B. Fixed amount paid per service
C. Deductible
D. Coinsurance
Which type of health insurance pays a fixed amount for each day in the hospital?
A. Disability insurance
B. Major medical insurance
✔✔C. Hospital indemnity insurance
D. Long-term care insurance
What is coinsurance?
A. Premium payment
✔✔B. Percentage of costs shared between insurer and insured
C. Deductible
D. Policy limit
Which provision in a health policy outlines duties after a loss?
A. Declarations
✔✔B. Conditions
C. Insuring agreement
3
, D. Exclusions
What is a pre-existing condition?
A. New illness after policy issuance
✔✔B. Condition existing before policy issuance
C. Injury caused by accident
D. Condition excluded by choice
Which health insurance plan requires members to use network providers?
✔✔A. HMO
B. PPO
C. POS
D. Indemnity
What is a deductible?
A. Coinsurance
B. Premium payment
✔✔C. Amount the insured pays before benefits apply
D. Maximum benefit
Which type of life insurance allows cash value to fluctuate with investments?
A. Term life
B. Whole life
4
