Pearson vue Texas life and health insurance Test Bank
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Which of the following best describes the "first-dollar coverage" principle in basic
medical insurance?
A. The insured must first pay a deductible
B. The insurer covers the first claim on the policy
C. Deductibles and coinsurance are taxed first
D. The insured is not required to pay a deductible
D. The insured is not required to pay a deductible
Which of the following determines the cash value of a variable life policy?
A. The performance of the policy portfolio
B. The company's general account
C. The policy's guarantees
D. The premium mode
D. The premium mode
,An individual applied for an insurance policy and paid the initial premium. The
insurer issued a conditional receipt. Five days later the applicant had to submit to
a medical exam. If the policy is issued, what would be the policy's effective date?
A. The date of the application
B. The date of the medical exam
C. The date of policy delivery
D. The date of issue
B. The date of the medical exam
All of the following statements about Medicare Part B are correct EXCEPT
A. It is a compulsory program
B. It covers services and supplies not covered by Part A
C. It is financed by monthly premium
D. It is financed by tax revenues
A. It is a compulsory program
,An applicant who receives a preferred risk classification qualifies for
A. Higher premiums than a person who receives a sub-standard risk
B. Higher premiums than a person who receives a standard risk
C. Lower premiums than a person who receives a standard risk
D. Dividends payable for lack of claims
C. Lower premiums than a person who receives a standard risk
With respect to the consideration clause, which of the following would be
considered consideration on the part of the applicant for insurance?
A. Providing warranties on the application
B. Notice of policy cancellation
C. Payment of premium
D. Promise to renew the policy at the end of the policy period
C. Payment of premium
, The rider in a whole life policy that allows the company to forgo collecting the
premium if the insured is disabled is called
A. Waiver of premium
B. Guaranteed insurability
C. Waiver of cost of insurance
D. Payor benefit
A. Waiver of premium
Which of the following is NOT true regarding the Life with Guaranteed Minimum
annuity settlement option?
A. It is life contingency option
B. The beneficiary receives the remainder of the principal amount upon the
annuitant's death
C. Payments can be made in installments and as a single cash refund
D. It does not guarantee that the entire principal amount will be paid out
D. It does not guarantee that the entire principal amount will be paid out
An insurer advertises a health policy that is covered by the Life and Health Insurance
Guaranty Association. The advertisement includes a short list of benefits and
approximate rates. The end of the advertisement includes statement that protection is
provided by the Guaranty Association. Which of the following is true?
A. Mentioning the Guaranty Association in advertisement is considered to be unfair trade
practice
B. The advertisement must also include the contact information of the association
C. The advertisement must also include the contact information of the Commissioner of
Insurance
D. Mentioning the Guaranty Association is mandatory when advertising in the state of
Texas
A. Mentioning the Guaranty Association in advertisement is considered to be unfair trade
practice
Questions & Accurate Answers\NEWEST ACTUAL FINAL EXAM
||2026\Exam Actual Complete Questions And Correct Answers
(Verified Answers) Already Graded A+ | Guaranteed Success!!
Newest Exam | Just Released!! LATEST UPDATE!!! ASSURED
PASS
Which of the following best describes the "first-dollar coverage" principle in basic
medical insurance?
A. The insured must first pay a deductible
B. The insurer covers the first claim on the policy
C. Deductibles and coinsurance are taxed first
D. The insured is not required to pay a deductible
D. The insured is not required to pay a deductible
Which of the following determines the cash value of a variable life policy?
A. The performance of the policy portfolio
B. The company's general account
C. The policy's guarantees
D. The premium mode
D. The premium mode
,An individual applied for an insurance policy and paid the initial premium. The
insurer issued a conditional receipt. Five days later the applicant had to submit to
a medical exam. If the policy is issued, what would be the policy's effective date?
A. The date of the application
B. The date of the medical exam
C. The date of policy delivery
D. The date of issue
B. The date of the medical exam
All of the following statements about Medicare Part B are correct EXCEPT
A. It is a compulsory program
B. It covers services and supplies not covered by Part A
C. It is financed by monthly premium
D. It is financed by tax revenues
A. It is a compulsory program
,An applicant who receives a preferred risk classification qualifies for
A. Higher premiums than a person who receives a sub-standard risk
B. Higher premiums than a person who receives a standard risk
C. Lower premiums than a person who receives a standard risk
D. Dividends payable for lack of claims
C. Lower premiums than a person who receives a standard risk
With respect to the consideration clause, which of the following would be
considered consideration on the part of the applicant for insurance?
A. Providing warranties on the application
B. Notice of policy cancellation
C. Payment of premium
D. Promise to renew the policy at the end of the policy period
C. Payment of premium
, The rider in a whole life policy that allows the company to forgo collecting the
premium if the insured is disabled is called
A. Waiver of premium
B. Guaranteed insurability
C. Waiver of cost of insurance
D. Payor benefit
A. Waiver of premium
Which of the following is NOT true regarding the Life with Guaranteed Minimum
annuity settlement option?
A. It is life contingency option
B. The beneficiary receives the remainder of the principal amount upon the
annuitant's death
C. Payments can be made in installments and as a single cash refund
D. It does not guarantee that the entire principal amount will be paid out
D. It does not guarantee that the entire principal amount will be paid out
An insurer advertises a health policy that is covered by the Life and Health Insurance
Guaranty Association. The advertisement includes a short list of benefits and
approximate rates. The end of the advertisement includes statement that protection is
provided by the Guaranty Association. Which of the following is true?
A. Mentioning the Guaranty Association in advertisement is considered to be unfair trade
practice
B. The advertisement must also include the contact information of the association
C. The advertisement must also include the contact information of the Commissioner of
Insurance
D. Mentioning the Guaranty Association is mandatory when advertising in the state of
Texas
A. Mentioning the Guaranty Association in advertisement is considered to be unfair trade
practice
