©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
Life insurance FINAL EXAM Practice
Questions and Answers (100% Pass)
If, at the time of an insured's death, the insurance company discovers that the insured's
age was misstated on the application for life insurance, the company will most likely -
✔️✔️pay the policy proceeds in the amount the premiums would have purchased at the
insured's actual age
Which type of life insurance beneficiary requires his/her consent when a change of
beneficiary is attempted by the policyowner? - ✔️✔️Irrevocable beneficiary
In a life insurance policy, which feature states that the policy will not cover certain risks?
- ✔️✔️Exclusion
Which of the following BEST describes Credit Life insurance? - ✔️✔️Insurance issued on
a debtor to cover outstanding balances on installment loans
The Commissioner of Insurance may issue a temporary agent's license for a maximum
of how many days? - ✔️✔️90
What kind of special need would a policyowner require with an Adjustable Life
insurance policy? - ✔️✔️flexible premiums
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
An agent MUST do which of the following during a sales presentation for a participating
life insurance policy? - ✔️✔️Include a statement that dividends are not guaranteed
A life insurance arrangement which circumvents insurable interest statutes is called -
✔️✔️Investor-Originated Life Insurance
The option that provides an additional death benefit for a limited amount of time at the
lowest possible cost is called a(n) - ✔️✔️Accidental Death and Dismemberment rider
(AD&D)
Under the Texas insurance code, which of the following statements about the Suicide
clause is CORRECT? - ✔️✔️Suicide may not be a defense against payment after the
second year
A term life insurance policy matures - ✔️✔️upon the insured's death during the term of
the policy
Under Texas insurance law, the term "transacting business" includes - ✔️✔️collecting
premiums
insurance agent licenses normally must be renewed every - ✔️✔️2 years
A foreign insurance company is one that is incorporated - ✔️✔️under the laws of another
state
An insurance agent does NOT have fiduciary responsibilities to - ✔️✔️other agents
2
Life insurance FINAL EXAM Practice
Questions and Answers (100% Pass)
If, at the time of an insured's death, the insurance company discovers that the insured's
age was misstated on the application for life insurance, the company will most likely -
✔️✔️pay the policy proceeds in the amount the premiums would have purchased at the
insured's actual age
Which type of life insurance beneficiary requires his/her consent when a change of
beneficiary is attempted by the policyowner? - ✔️✔️Irrevocable beneficiary
In a life insurance policy, which feature states that the policy will not cover certain risks?
- ✔️✔️Exclusion
Which of the following BEST describes Credit Life insurance? - ✔️✔️Insurance issued on
a debtor to cover outstanding balances on installment loans
The Commissioner of Insurance may issue a temporary agent's license for a maximum
of how many days? - ✔️✔️90
What kind of special need would a policyowner require with an Adjustable Life
insurance policy? - ✔️✔️flexible premiums
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
An agent MUST do which of the following during a sales presentation for a participating
life insurance policy? - ✔️✔️Include a statement that dividends are not guaranteed
A life insurance arrangement which circumvents insurable interest statutes is called -
✔️✔️Investor-Originated Life Insurance
The option that provides an additional death benefit for a limited amount of time at the
lowest possible cost is called a(n) - ✔️✔️Accidental Death and Dismemberment rider
(AD&D)
Under the Texas insurance code, which of the following statements about the Suicide
clause is CORRECT? - ✔️✔️Suicide may not be a defense against payment after the
second year
A term life insurance policy matures - ✔️✔️upon the insured's death during the term of
the policy
Under Texas insurance law, the term "transacting business" includes - ✔️✔️collecting
premiums
insurance agent licenses normally must be renewed every - ✔️✔️2 years
A foreign insurance company is one that is incorporated - ✔️✔️under the laws of another
state
An insurance agent does NOT have fiduciary responsibilities to - ✔️✔️other agents
2
