TEXAS LIFE AND HEALTH UPDATED EXAM TEST PAPER
QUESTIONS AND ANSWERS GRADED A+
✔✔if a license is terminated by TDI, they may not be able to get another one for - ✔✔5
years from effective date of denial/revocation/termination
✔✔the commissioner may terminate a license of anyone who - ✔✔willfully or
intentionally made a material misstatement or violated any provision
has been convicted of a felony
✔✔giving someone something of value in exchange for writing a policy with you -
✔✔rebating
✔✔agents must inform TDI on a monthly basis (within 30 days) of the following -
✔✔changes in mailing address
felony convictions
✔✔unfair claim practices - ✔✔adjuster/claim
✔✔unfair trade practices - ✔✔sales/agents
✔✔if you are convicted of unfair claim practices you have ______ days to
_________________ - ✔✔15 days to pay/deny/request more time
✔✔cease and desist orders are - ✔✔warnings
✔✔the commissioner reserves the right to investigate, hold hearings, cesase and desist
orders, and fine anyone who is engaged in - ✔✔unfair trade practices
✔✔advertisements may not state or imply that future dividends are guaranted -
✔✔unfair trade practices
✔✔it is illegal to make any written or oral statement, sales representation or
compensation that misrepresents - ✔✔dividends, benefits, advantages
true nature of policy
purpose of lapse, forfeiture, exchange
✔✔any statement, written or oral, that is false or maliciously critical of the financial
condition of insurance company or a producer representing the company -
✔✔defamation
, ✔✔offering valuable consideration, other than what is written in the contract, as an
inducement to purchase a policy - ✔✔rebating
✔✔unfairly discriminate between individuals of the same class and equal life
expectancy in the rates, dividends, benefits, or terms
unfairly discriminate of using sexual orientation in the underwriting process or in
determination of insurability - ✔✔unfair discrimination
✔✔an administration violation is a violation of - ✔✔paperwork
✔✔fines for administration violation - ✔✔$1,000 for each violation
$5,000 for all violations
✔✔a civil violation is a violation of - ✔✔a glitch in the system
✔✔fines for civil violations - ✔✔$50 for non-willful violations
$500 for willful violations
✔✔an illegal act that is committed while engaging in the business of insurance, the
transaction or part of an attempt to defraud an insurer - ✔✔fraud
✔✔all insurers who provide health and life insurance must be a member of -
✔✔guaranty association
✔✔this protects the public against the insolvency of insurers - ✔✔guaranty association
✔✔the guaranty association provides limits per person up to ____________ for LIFE
INSURANCE DEATH BENEFITS - ✔✔$300,000
✔✔the guaranty association provides limits per person up to ____________ for CASH
VALUE IN LIFE INSURANCE - ✔✔$100,000
✔✔the guaranty association provides limits per person up to ____________ for CASH
VALUE IN ANNUITIES - ✔✔$250,000
✔✔the guaranty association provides limits per person up to ____________ for BASIC
HOSPITAL, MEDICAL-SURGICAL, OR MAJOR MEDICAL INSURANCE - ✔✔$500,000
✔✔the guaranty association provides limits per person up to ____________ for
DISABILITY OR LONG TERM CARE BENEFITS - ✔✔$300,000
QUESTIONS AND ANSWERS GRADED A+
✔✔if a license is terminated by TDI, they may not be able to get another one for - ✔✔5
years from effective date of denial/revocation/termination
✔✔the commissioner may terminate a license of anyone who - ✔✔willfully or
intentionally made a material misstatement or violated any provision
has been convicted of a felony
✔✔giving someone something of value in exchange for writing a policy with you -
✔✔rebating
✔✔agents must inform TDI on a monthly basis (within 30 days) of the following -
✔✔changes in mailing address
felony convictions
✔✔unfair claim practices - ✔✔adjuster/claim
✔✔unfair trade practices - ✔✔sales/agents
✔✔if you are convicted of unfair claim practices you have ______ days to
_________________ - ✔✔15 days to pay/deny/request more time
✔✔cease and desist orders are - ✔✔warnings
✔✔the commissioner reserves the right to investigate, hold hearings, cesase and desist
orders, and fine anyone who is engaged in - ✔✔unfair trade practices
✔✔advertisements may not state or imply that future dividends are guaranted -
✔✔unfair trade practices
✔✔it is illegal to make any written or oral statement, sales representation or
compensation that misrepresents - ✔✔dividends, benefits, advantages
true nature of policy
purpose of lapse, forfeiture, exchange
✔✔any statement, written or oral, that is false or maliciously critical of the financial
condition of insurance company or a producer representing the company -
✔✔defamation
, ✔✔offering valuable consideration, other than what is written in the contract, as an
inducement to purchase a policy - ✔✔rebating
✔✔unfairly discriminate between individuals of the same class and equal life
expectancy in the rates, dividends, benefits, or terms
unfairly discriminate of using sexual orientation in the underwriting process or in
determination of insurability - ✔✔unfair discrimination
✔✔an administration violation is a violation of - ✔✔paperwork
✔✔fines for administration violation - ✔✔$1,000 for each violation
$5,000 for all violations
✔✔a civil violation is a violation of - ✔✔a glitch in the system
✔✔fines for civil violations - ✔✔$50 for non-willful violations
$500 for willful violations
✔✔an illegal act that is committed while engaging in the business of insurance, the
transaction or part of an attempt to defraud an insurer - ✔✔fraud
✔✔all insurers who provide health and life insurance must be a member of -
✔✔guaranty association
✔✔this protects the public against the insolvency of insurers - ✔✔guaranty association
✔✔the guaranty association provides limits per person up to ____________ for LIFE
INSURANCE DEATH BENEFITS - ✔✔$300,000
✔✔the guaranty association provides limits per person up to ____________ for CASH
VALUE IN LIFE INSURANCE - ✔✔$100,000
✔✔the guaranty association provides limits per person up to ____________ for CASH
VALUE IN ANNUITIES - ✔✔$250,000
✔✔the guaranty association provides limits per person up to ____________ for BASIC
HOSPITAL, MEDICAL-SURGICAL, OR MAJOR MEDICAL INSURANCE - ✔✔$500,000
✔✔the guaranty association provides limits per person up to ____________ for
DISABILITY OR LONG TERM CARE BENEFITS - ✔✔$300,000
