Texas Funeral Prearrangement License (Actual) Exam Solved 100% Correct

Legal reserve life insurance Agent - ANSWER-A funeral prearrangement life insurance agent must be supervised by a _____ who's company holds a seller's permit $15,000.000 - ANSWER-The maximum initial guaranteed death benefit that a funeral prearrangement life insurance may sell is ____ Appointing insurance company - ANSWER-A funeral prearrangement life insurance agent license expires when the agent ceases to represent the _______ 60 months - ANSWER-When an application for and insurance agent license is denied, except for failure to pass the exam, the applicant can not reapply for ________ (length of time) fail(s) to remit premiums to the insurance company - ANSWER-A agents insurance license can be suspended or revoked if the agent _____ General Price List (GPL) - ANSWER-Must be offered at the beginning of a sales presentation for funeral services/goods The GPL - ANSWER-Must be given to consumer to keep Sellers permit number - ANSWER-GPL must include funeral providers name, address, effective date of list, but not ______ Identical wording - ANSWER-The required disclosure for the GPL must use the _____ given in the FTC Funeral Rule Embalming is optional - ANSWER-Part of a prearranged funeral sale you must disclose that ________ when burial is immediate Alternative Containers - ANSWER-The GPL must disclose the availability of ____ for cremation Price each item or service - ANSWER-The GPL must _____ separately Funeral Director - ANSWER-The basic services of ____ cannot be declined by purchaser Purchase of casket - ANSWER-The FTC funeral rule prohibits funeral providers from requiring _____ for direct cremation one - ANSWER-Funeral provider must keep a copy of price list on file for ___ year(s) after its last distribution to a consumer Texas department of banking - ANSWER-Prepaid funeral benefits contract forms must be approved by __________ 30 - ANSWER-A copy of an insurance funded prepaid funeral contract must be provided to the purchaser within ______ (days) from when it was signed 30 days - ANSWER-Premiums collected for insurance policies funding or paid funeral benefits must be remitted to the insurance company within _____ Premium - ANSWER-A contract seller's permit may be cancelled for failing to provide ________ remittance evidence requested by the Banking Department 60 Days - ANSWER-After a trust funded contract is converted to an insurance funded contract the purchaser may revert back to the original trust fund at any time during the next ? Grace - ANSWER-The provision that is permitted in an insurance policy used to fund a contract which is being converted from a trust funded contract is the ________ period provision. 100% - ANSWER-When a seller applies to convert existing contracts from trust funded to insurance funded contracts ________ of the seller's business must be converted Annuities - ANSWER-In a conversion from a trust funded to insurance funded contracts ________ are the funding device that will be used for the new contracts. Contract - ANSWER-The purchaser of a prepaid funeral benefits contract may be given the option to irrevocably waive the purchaser's right to cancel the? Equal - ANSWER-When a purchaser chooses to cancel a contract six months after its conversion from a trust funded to insurance funded the amount due to the purchaser is ________ to what would have been paid if no conversion had taken place Funeral Home - ANSWER-In insurance, under the law of agency, the ________ is bound by the acts of its insurance agents. Implied - ANSWER-An insurance company that allows an agent to collect premiums on its behalf even though that authority is not listed in the agent's contract is considered ________ authority. Unwritten - ANSWER-The implied authority of insurance agents is _________ Agents - ANSWER-An agent's authority to solicit applications on behalf of the insurer is granted in the ________ contract with the insurer. Expressed - ANSWER-The type of authority that is detailed in the agent's contract with the insurance company is? Insurance - ANSWER-An agent who advertises the features of a particular policy must obtain prior approval from the ________ company. Guaranteed - ANSWER-When an annuity advertisement includes the current interest rate being credited, it must also include the _________ interest rate. Benefits - ANSWER-A lifer insurance policy summary is a summary of the policy ________ and cost. Hypothetical - ANSWER-A life insurance illustration illustrates ________ results of the policy 9 pm - ANSWER-The latest time a solicitor may place a call is? Misrepresentation - ANSWER-Making statements about a policy that would lead an individual to a false conclusion