TEXAS LIFE AND HEALTH FINAL EXAM
REVIEW QUESTIONS WITH COMPLETE
SOLUTIONS
Annual - Answer-Which premium schedule results in the lowest cost to the policy-
owner?
2001 - Answer-The USA patriot act was enacted in:
Insurance contract to the proposed insured - Answer-What is being delivered during a
policy delivery?
Send termination notice to the Tx Dept. Of Insurance - Answer-to terminate an agent's
appointment, an insurance company must
Non canelable - Answer-J purchased a Disability Income Policy that ONLY J can
terminate and on which the rates will never increase above those illustrated in the
policy. Which of the following types of policies did J purchase?
Exclusions - Answer-The sections of an insurance contract which limit coverage are
called
0.00 - Answer-T and S are named co-primary beneficiaries on a $500,000 Accidental
Death and Dismemberment policy insuring their father. Their mother was named
contingent beneficiary. Five years later, S dies of natural causes and the father is killed
in a scuba accident shortly afterwards. How much of the death benefit will the mother
receive?
Legal corporate name - Answer-when advertising, an insurance company MUST use its
Exclusion for the medical condition - Answer-An underwriter determines that an
applicant's risk should be recategorized due to a health issue. This policy may be issued
with a(n)
Irrevocable - Answer-A policy-owner would like to change the beneficiary on a life
insurance policy and make the change permanent. Which type of designation would
fulfill this need?
S buys a $50,000 whole life policy with a $50,000 Accidental Death and
Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer
pay the beneficiary? - Answer-$50,000
REVIEW QUESTIONS WITH COMPLETE
SOLUTIONS
Annual - Answer-Which premium schedule results in the lowest cost to the policy-
owner?
2001 - Answer-The USA patriot act was enacted in:
Insurance contract to the proposed insured - Answer-What is being delivered during a
policy delivery?
Send termination notice to the Tx Dept. Of Insurance - Answer-to terminate an agent's
appointment, an insurance company must
Non canelable - Answer-J purchased a Disability Income Policy that ONLY J can
terminate and on which the rates will never increase above those illustrated in the
policy. Which of the following types of policies did J purchase?
Exclusions - Answer-The sections of an insurance contract which limit coverage are
called
0.00 - Answer-T and S are named co-primary beneficiaries on a $500,000 Accidental
Death and Dismemberment policy insuring their father. Their mother was named
contingent beneficiary. Five years later, S dies of natural causes and the father is killed
in a scuba accident shortly afterwards. How much of the death benefit will the mother
receive?
Legal corporate name - Answer-when advertising, an insurance company MUST use its
Exclusion for the medical condition - Answer-An underwriter determines that an
applicant's risk should be recategorized due to a health issue. This policy may be issued
with a(n)
Irrevocable - Answer-A policy-owner would like to change the beneficiary on a life
insurance policy and make the change permanent. Which type of designation would
fulfill this need?
S buys a $50,000 whole life policy with a $50,000 Accidental Death and
Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer
pay the beneficiary? - Answer-$50,000
