Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Questions with complete solution 2023

Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Questions with complete solution 2023 Which of the following actions does the commissioner of insurance NOT have the power to conduct? - ANS-Activate insurance companies' financial reserves In Texas, which of these statements regarding the suicide clause is TRUE? - ANS-An insurer may not use suicide as a defense against payment after the second year Question 34 Insurance agent has a fiduciary responsibility to all of the following EXCEPT? - ANS-Other agents Question 35 Which of these is NOT an example of doing insurance business? - ANS-Selling shares of stock Question 1 to terminate an agent's appointment an insurance company must? - ANS-send termination notice to the Texas department of insurance Question 2 An example of an unfair claims settlement practice is? - ANSTurning down a claim without providing the basis of denial Question 3 ABC insurance company is actively engaging in boycott, coercion, and intimidation that results in the unreasonable restraint of trade. ABC is committing a prohibited act under Texas insurance laws - ANS-Unfair methods of competition Question 4 why would the insurance commissioner examine the records of an insurance company? - ANS-To determine the solvency of the company Question 5 a foreign insurance company conducting insurance business in Texas? - ANS-Was formed under the laws of another state Question 6 Which of the following is NOT a required provision in group Life policies - ANS-Right to loan Question 7 what is an organization that solicits insurance only to its members? - ANS-Fraternal benefit society Question 8 Credit life insurance is? - ANS-Insurance issued on a debtor to cover outstanding loan balances Question 9 in Texas, how long must a policy be enforced before an insurance company must pay death benefits for suicide? - ANS-2 years Question 10 In Texas, an individual life insurance policy is REQUIRED to have a grace period of? - ANS-31 days Question 11 How long does an insurance company appointment remain in force? - ANS-Until terminated Which of the following actions does the commissioner of insurance NOT have the power to conduct? - ANS-Activate insurance companies' financial reserves In Texas, which of these statements regarding the suicide clause is TRUE? - ANS-An insurer may not use suicide as a defense against payment after the second year Question 34 Insurance agent has a fiduciary responsibility to all of the following EXCEPT? - ANS-Other agents Question 35 Which of these is NOT an example of doing insurance business? - ANS-Selling shares of stock Question 1 to terminate an agent's appointment an insurance company must? - ANS-send termination notice to the Texas department of insurance Question 2 An example of an unfair claims settlement practice is? - ANSTurning down a claim without providing the basis of denial Question 3 ABC insurance company is actively engaging in boycott, coercion, and intimidation that results in the unreasonable restraint of trade. ABC is committing a prohibited act under Texas insurance laws - ANS-Unfair methods of competition Question 4 why would the insurance commissioner examine the records of an insurance company? - ANS-To determine the solvency of the company Question 5 a foreign insurance company conducting insurance business in Texas? - ANS-Was formed under the laws of another state Question 6 Which of the following is NOT a required provision in group Life policies - ANS-Right to loan Question 7 what is an organization that solicits insurance only to its members? - ANS-Fraternal benefit society Question 8 Credit life insurance is? - ANS-Insurance issued on a debtor to cover outstanding loan balances Question 9 in Texas, how long must a policy be enforced before an insurance company must pay death benefits for suicide? - ANS-2 years Question 10 In Texas, an individual life insurance policy is REQUIRED to have a grace period of? - ANS-31 days Question 11 How long does an insurance company appointment remain in force? - ANS-Until terminated