Insurance license practice XCEL
solutions final exam #12 - Texas life
only questions & answers15
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary? - ANSWERS-Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of
initial license? - ANSWERS-24 hours
Question 3
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer
discovers that L has understated range on the application. Under the misstatement of age
provision the insurer will? - ANSWERS-Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be? - ANSWERS-And insurer exaggerating in dividends in
a magazine advertisement
Question 5
With whom an agent legally share commissions? - ANSWERS-Another agent with the same line
of insurance
Question 6
, Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - ANSWERS-Other
agents
Question 7
Which of these is not an example of doing insurance business? - ANSWERS-Selling shares of
stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of? -
ANSWERS-Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - ANSWERS-Indexed annuity owners
receive crediting interest time to the fluctuation of the linked index
Question 10
which of the following policies combines investment choices with a form of Term coverage? -
ANSWERS-Variable universal life
Question 11
How long does an insurance company appointment remain in force? - ANSWERS-Until
terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of? - ANSWERS-31
days
Question 13
solutions final exam #12 - Texas life
only questions & answers15
Question 1
Which settlement option pays a stated amount to an annuitant, but no residual value to a
beneficiary? - ANSWERS-Life income
Question 2
A new agent must complete at least _____ hours of continuing education within 24 months of
initial license? - ANSWERS-24 hours
Question 3
L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer
discovers that L has understated range on the application. Under the misstatement of age
provision the insurer will? - ANSWERS-Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be? - ANSWERS-And insurer exaggerating in dividends in
a magazine advertisement
Question 5
With whom an agent legally share commissions? - ANSWERS-Another agent with the same line
of insurance
Question 6
, Insurance agent as a fiduciary responsibility to all of the following EXCEPT? - ANSWERS-Other
agents
Question 7
Which of these is not an example of doing insurance business? - ANSWERS-Selling shares of
stock
Question 8
taking receipt of premiums and holding them for the insurance company is an example of? -
ANSWERS-Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - ANSWERS-Indexed annuity owners
receive crediting interest time to the fluctuation of the linked index
Question 10
which of the following policies combines investment choices with a form of Term coverage? -
ANSWERS-Variable universal life
Question 11
How long does an insurance company appointment remain in force? - ANSWERS-Until
terminated
Question 12
in Texas an individual life insurance policy is REQUIRED to have a grace period of? - ANSWERS-31
days
Question 13
