Texas Funeral Prearrangement License Exam Questions With Correct Answers 2024/2025 (100% VERIFIED)

Texas Funeral Prearrangement License Exam Questions With Correct Answers 2024/2025 (100% VERIFIED) A funeral prearrangement life insurance agent must be supervised - Correct Answer-By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Correct Answer-$15,000 A funeral prearrangement life insurance agent license expires when the agent - Correct Answer-Fails to submit a biannual renewal application and fee When an application for an insurance agent license is denied, except for failure to pass the examination, the applicant may NOT re-apply for at least - Correct Answer-60 months An agents insurance license could be suspended or revoked if the agent - Correct Answer-fails to remit premiums ______ must be offered at the beginning of a sales presentation for funeral goods and service - Correct Answer-The general price list The ___ must be given to the consumer to keep - Correct Answer-General price list The general price list (GPL) must include - Correct Answer-The funeral providers name and address, the effective date of the list, and all the exact caption of "General Price List". The required disclosures for the general price list (GPL) - Correct Answer-must use the identical wording given in the FTC Funeral Rule As part of a prearranged funeral sale, the seller must disclose - Correct Answer-that embalming is optional when the burial is immediate The GPL must disclose the - Correct Answer-availability of alternative containers for cremation The GPL - Correct Answer-must price each item or service seperately ______ cannot be declined by the purchaser - Correct Answer-The basic services of a funeral director The FTC Funeral Rule prohibits funeral providers from - Correct Answer-requiring the purchase of a casket for direct cremation A funeral provider must keep a copy of a price list on file for ____ after its last distribution to a consumer - Correct Answer-1 year Prepaid funeral benefits contract forms must be approved by - Correct Answer-the Texas Department of Banking A copy of an insurance-funded prepaid funeral contract must be provided to the purchaser within ____ from when it was signed - Correct Answer-30 days Premiums collected from insurance policies funding prepaid funeral benefits must be remitted to the insurance company within - Correct Answer-30 days A contract seller's permit may be cancelled for - Correct Answer-failing to provide premium remittance evidence requested by the Banking Department Regarding the Federal Waiver of Cancellation Form, - Correct Answer-it is not needed when the prearrangement contract is purchased at the funeral home At the time of the sale of a funeral prearrangement contract, the purchaser should be given - Correct Answer-the "Facts about Funerals" pamphlet from the Texas Funeral Service Commission Selling a funeral prearrangement contract to a person who cannot afford it can result often in - Correct Answer-loss of business to the funeral home Regarding misrepresentation of the proposed isured's health - Correct Answer-if the insurance company accepts the application, the applicant's health cannot be questioned The purchaser of a prepaid funeral benefits contract may be given the option to irrevocably waive - Correct Answer-the purchaser's right to cancel the contract Failure to describe fully the goods and materials on the contract may result in - Correct Answer-harm to the agent's relationship with the funeral home, return of the contract for corrections and resubmission, stress and confusion for customers family at the time of the funeral In insurance, under the law of agency, - Correct Answer-the INSURER is bound by the acts of its insurance agents 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 - Correct Answer-implied The implied authority of insurance agents is - Correct Answer-unwritten An agent's authority to solicit applications on behalf of the insurer is granted in the - Correct Answer-agents contract with the insurer The type of authority that is detailed in the agent's contract with the insurance company - Correct Answer-is express An agent who advertises the feature of a particular policy must obtain prior approval from the - Correct Answer-insurance company When an annuity advertisement includes the current interest rate being credited, it must also include - Correct Answer-the guaranteed interest rate A life insurance policy summary is a summary of - Correct Answer-the policy benefits and costs A life insurance illustration - Correct Answer-illustrates hypothetical results of the policy The latest time of the day that a collector can place a call is - Correct Answer-9:00 p.m. _____ is making statements about a policy that would lead an individual to a false conclusion - Correct Answer-misrepresentation During a sales presentation, it is considered an unfair trade practice for an insurance agent to omit a - Correct Answer-material fact when describing a policy An advertisement for an insurance policy cannot - Correct Answer-use a potentially misleading policy title An agent who publishes a derogatory article about the funeral condition of an insurer may be guilty of - Correct Answer-defamation An insurance agent may be found guilty of defamation for - Correct Answer-making a false statement about another insurance company's solvency It is unlawful to charge different life insurance premium rates among individuals who have the - Correct Answer-same life expectancy