INSURANCE LICENSE PRACTICE XCEL SOLUTIONS FINAL EXAM #12 - TEXAS LIFE ONLY EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

Question 1 Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? Correct Answer: Life income Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? Correct Answer: 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? 2 Correct Answer: Adjust the death benefits to a reduced amount Question 4 An example of false advertising would be? Correct Answer: And insurer exaggerating in dividends in a magazine advertisement Question 5 With whom an agent legally share commissions? Correct Answer: Another agent with the same line of insurance Question 6 Insurance agent as a fiduciary responsibility to all of the following EXCEPT? Correct Answer: Other agents Question 7 Which of these is not an example of doing insurance business? Correct Answer: Selling shares of stock Question 8 taking receipt of premiums and holding them for the insurance company is an example of? Correct Answer: Fiduciary responsibility 3 Question 9 How does an indexed annuity differ from a fixed annuity? Correct Answer: 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? Correct Answer: Variable universal life Question 11 How long does an insurance company appointment remain in force? Correct Answer: Until terminated