Texas Health and Life Insurance ExamFX
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What sis sthe spurpose sof sthe sbuyer's sguide?
A.To sAllow sthe sconsumer sto scompare sthe scosts sof sdifferent spolicies
B. sTo sprovide sthe sname sand saddress sof sthe sagent.
C. sto slist sall spolicy sriders.
D. sTo sprovide sinformation sabout sthe spolicy. s- sCorrect s sAnswer s- sA.To sAllow sthe sconsumer sto scompare
sthe scosts sof sdifferent spolicies
Which sof sthe sfollowing sbest sdescribes sthe sconcept sthat sthe sinsured spays sa ssmall samount sof spremium
sfor sa slarge samount sof srisk son sthe spart sof sthe sinsurance scompany?
AAdhesion
BSubrogation
CWarranty
DAleatory s- sCorrect s sAnswer s- sD. sAleatory
What sis sthe spurpose sof sa sconditional sreceipt?
AIt sis sgiven sby sthe sagent sonly sto sapplicants swho sfully sprepay sall sscheduled spremiums sin sadvance sof
spolicy sissue.
BIt sis sintended sto sprovide scoverage son sa sdate searlier sthan sthe sdate sof sthe sissuance sof sthe spolicy.
,CIt sguarantees sthe sapplicant sthat sa spolicy swill sbe sissued sin sthe samount sapplied sfor sin sthe sapplication.
DIt sserves sas sproof sthat sthe sagent shas sdetermined sthe sapplicant sto sbe sfully sinsurable sfor scoverage sby
sthe sinsurance scompany. s- sCorrect s sAnswer s- sBIt sis sintended sto sprovide scoverage son sa sdate searlier sthan
sthe sdate sof sthe sissuance sof sthe spolicy.
Which sof sthe sfollowing sis sNOT sthe sconsideration sin sa spolicy?
AThe spromise sto spay scovered slosses
BThe sapplication sgiven sto sa sprospective sinsured
CSomething sof svalue sexchanged sbetween sparties
DThe spremium samount spaid sat sthe stime sof sapplication s- sCorrect s sAnswer s- sB. sThe sapplication sgiven sto sa
sprospective sinsured.
An sinsurer sreceives sa sreport sregarding sa spotential sinsured sthat sincludes sthe sinsured's sfinancial sstatus,
shobbies sand shabits. sWhat stype sof sa sreport sis sthat?
AAgent's sReport
BUnderwriter's sReport
CInspection sReport
DMedical sInformation sBureau's sreport s- sCorrect s sAnswer s- sC. sInspection sReport
The sfull spremium swas ssubmitted swith sthe sapplication sfor slife sinsurance, sand sthe spolicy swas sissued stwo
sweeks slater sas srequested. sWhen sdoes sthe spolicy scoverage sbecome seffective?
AAs sof sthe spolicy sdelivery sdate
BAs sof sthe sfirst sof sthe smonth safter sthe spolicy sissue
CAs sof sthe spolicy sissue sdate
DAs sof sthe sapplication sdate s- sCorrect s sAnswer s- sD sAs sof sthe sapplication sdate.
In sterms sof sparties sto sa scontract, swhich sof sthe sfollowing sdoes sNOT sdescribe sa scompetent sparty?
AThe sperson smust sbe smentally scompetent sto sunderstand sthe scontract.
BThe sperson smust shave sat sleast scompleted ssecondary seducation.
,CThe sperson smust snot sbe sunder sthe sinfluence sof sdrugs sor salcohol.
DThe sperson smust sbe sof slegal sage. s- sCorrect s sAnswer s- sB. sThe sperson smust shave sat sleast scompleted
ssecondary seducation.
Which sof sthe sfollowing sis sNOT san sexample sof sinsurable sinterest?
AEmployer sin semployee
BChild sin sparent
CDebtor sin screditor
DBusiness spartners sin seach sother s- sCorrect s sAnswer s- sC. sDebtor sin screditor
An sinsurer sneglects sto spay sa slegitimate sclaim sthat sis scovered sunder sthe sterms sof sthe spolicy. sWhich sof
sthe sfollowing sinsurance sprinciples shas sthe sinsurer sviolated?
ARepresentation
BAdhesion
CConsideration
DGood sfaith s- sCorrect s sAnswer s- sC. sConsideration
Which sof sthe sfollowing sincludes sinformation sregarding sa sperson's scredit, scharacter, sreputation, sand
shabits?
AConsumer shistory
BInsurability sreport
CAgent's sreport
DConsumer sreport s- sCorrect s sAnswer s- sD. sConsumer sReport
Because san sinsurance spolicy sis sa slegal scontract, sit smust sconform sto sthe sstate slaws sgoverning scontracts
swhich srequire sall sof sthe sfollowing selements sEXCEPT
AConsideration.
BLegal spurpose.
COffer sand sacceptance.
DConditions. s- sCorrect s sAnswer s- sD. sConditions
The sFederal sFair sCredit sReporting sAct
, ARegulates stelemarketing.
BPrevents smoney slaundering.
CRegulates sconsumer sreports.
DProtects scustomer sprivacy. s- sCorrect s sAnswer s- sC. sRegulates sconsumer sreports
If san sapplicant sfor sa slife sinsurance spolicy sand sperson sto sbe sinsured sby sthe spolicy sare stwo sdifferent
speople, sthe sunderwriter swould sbe sconcerned sabout
AWhich sindividual swill spay sthe spremium.
BWhether san sinsurable sinterest sexists sbetween sthe sindividuals.
CThe sgender sof sthe sapplicant.
DThe stype sof spolicy srequested. s- sCorrect s sAnswer s- sB. sWhether san sinsurable sinterest sexist sbetween sthe
sindividuals.
All sof sthe sfollowing sare sduties sand sresponsibilities sof sproducers sat sthe stime sof sapplication sEXCEPT
AChange sany sincorrect sstatement son sthe sapplication sby spersonally sinitialing snext sto sthe scorrected
sstatement.
BExplain sthe snature sand stype sof sany sreceipt sthe sproducer sis sgiving sto sthe sapplicant.
CProbe sbeyond sthe sstated squestions sif sthe sproducer sfeels sthe sapplicant sis smisrepresenting sor
sconcealing sinformation.
DCheck sto smake ssure sthat sthere sare sno sunanswered squestions son sthe sapplication. s- sCorrect s sAnswer s-
sA. sChange sany sincorrect sstatement son sthe sapplication sby spersonally sinitialing snext sto sthe scorrected
sstatement.
Which sof sthe sfollowing swould sbe sconsidered sa snonmedical sinsurance sapplication?
AAn sapplication sthat sdoes snot sask sany squestions sabout sthe sapplicant's smedical shistory
BAn sapplication ssubmitted swith sthe sAgent's sReport
CAny sapplication sfor slife sinsurance
DAn sapplication son swhich sthe smedical sinformation sis scompleted sby sthe sapplicant sand sthe sagent sonly. s-
sCorrect s sAnswer s- sD. sAn sapplication son swhich sthe smedical sinfo sis scompleted sby sthe sapplicant sand
sagent salone.
Which sof sthe sfollowing sproducts srequires sa ssecurities slicense?
A. sEquity sIndexed sAnnuity
questions with accurate answers. 100%
Verified.
What sis sthe spurpose sof sthe sbuyer's sguide?
A.To sAllow sthe sconsumer sto scompare sthe scosts sof sdifferent spolicies
B. sTo sprovide sthe sname sand saddress sof sthe sagent.
C. sto slist sall spolicy sriders.
D. sTo sprovide sinformation sabout sthe spolicy. s- sCorrect s sAnswer s- sA.To sAllow sthe sconsumer sto scompare
sthe scosts sof sdifferent spolicies
Which sof sthe sfollowing sbest sdescribes sthe sconcept sthat sthe sinsured spays sa ssmall samount sof spremium
sfor sa slarge samount sof srisk son sthe spart sof sthe sinsurance scompany?
AAdhesion
BSubrogation
CWarranty
DAleatory s- sCorrect s sAnswer s- sD. sAleatory
What sis sthe spurpose sof sa sconditional sreceipt?
AIt sis sgiven sby sthe sagent sonly sto sapplicants swho sfully sprepay sall sscheduled spremiums sin sadvance sof
spolicy sissue.
BIt sis sintended sto sprovide scoverage son sa sdate searlier sthan sthe sdate sof sthe sissuance sof sthe spolicy.
,CIt sguarantees sthe sapplicant sthat sa spolicy swill sbe sissued sin sthe samount sapplied sfor sin sthe sapplication.
DIt sserves sas sproof sthat sthe sagent shas sdetermined sthe sapplicant sto sbe sfully sinsurable sfor scoverage sby
sthe sinsurance scompany. s- sCorrect s sAnswer s- sBIt sis sintended sto sprovide scoverage son sa sdate searlier sthan
sthe sdate sof sthe sissuance sof sthe spolicy.
Which sof sthe sfollowing sis sNOT sthe sconsideration sin sa spolicy?
AThe spromise sto spay scovered slosses
BThe sapplication sgiven sto sa sprospective sinsured
CSomething sof svalue sexchanged sbetween sparties
DThe spremium samount spaid sat sthe stime sof sapplication s- sCorrect s sAnswer s- sB. sThe sapplication sgiven sto sa
sprospective sinsured.
An sinsurer sreceives sa sreport sregarding sa spotential sinsured sthat sincludes sthe sinsured's sfinancial sstatus,
shobbies sand shabits. sWhat stype sof sa sreport sis sthat?
AAgent's sReport
BUnderwriter's sReport
CInspection sReport
DMedical sInformation sBureau's sreport s- sCorrect s sAnswer s- sC. sInspection sReport
The sfull spremium swas ssubmitted swith sthe sapplication sfor slife sinsurance, sand sthe spolicy swas sissued stwo
sweeks slater sas srequested. sWhen sdoes sthe spolicy scoverage sbecome seffective?
AAs sof sthe spolicy sdelivery sdate
BAs sof sthe sfirst sof sthe smonth safter sthe spolicy sissue
CAs sof sthe spolicy sissue sdate
DAs sof sthe sapplication sdate s- sCorrect s sAnswer s- sD sAs sof sthe sapplication sdate.
In sterms sof sparties sto sa scontract, swhich sof sthe sfollowing sdoes sNOT sdescribe sa scompetent sparty?
AThe sperson smust sbe smentally scompetent sto sunderstand sthe scontract.
BThe sperson smust shave sat sleast scompleted ssecondary seducation.
,CThe sperson smust snot sbe sunder sthe sinfluence sof sdrugs sor salcohol.
DThe sperson smust sbe sof slegal sage. s- sCorrect s sAnswer s- sB. sThe sperson smust shave sat sleast scompleted
ssecondary seducation.
Which sof sthe sfollowing sis sNOT san sexample sof sinsurable sinterest?
AEmployer sin semployee
BChild sin sparent
CDebtor sin screditor
DBusiness spartners sin seach sother s- sCorrect s sAnswer s- sC. sDebtor sin screditor
An sinsurer sneglects sto spay sa slegitimate sclaim sthat sis scovered sunder sthe sterms sof sthe spolicy. sWhich sof
sthe sfollowing sinsurance sprinciples shas sthe sinsurer sviolated?
ARepresentation
BAdhesion
CConsideration
DGood sfaith s- sCorrect s sAnswer s- sC. sConsideration
Which sof sthe sfollowing sincludes sinformation sregarding sa sperson's scredit, scharacter, sreputation, sand
shabits?
AConsumer shistory
BInsurability sreport
CAgent's sreport
DConsumer sreport s- sCorrect s sAnswer s- sD. sConsumer sReport
Because san sinsurance spolicy sis sa slegal scontract, sit smust sconform sto sthe sstate slaws sgoverning scontracts
swhich srequire sall sof sthe sfollowing selements sEXCEPT
AConsideration.
BLegal spurpose.
COffer sand sacceptance.
DConditions. s- sCorrect s sAnswer s- sD. sConditions
The sFederal sFair sCredit sReporting sAct
, ARegulates stelemarketing.
BPrevents smoney slaundering.
CRegulates sconsumer sreports.
DProtects scustomer sprivacy. s- sCorrect s sAnswer s- sC. sRegulates sconsumer sreports
If san sapplicant sfor sa slife sinsurance spolicy sand sperson sto sbe sinsured sby sthe spolicy sare stwo sdifferent
speople, sthe sunderwriter swould sbe sconcerned sabout
AWhich sindividual swill spay sthe spremium.
BWhether san sinsurable sinterest sexists sbetween sthe sindividuals.
CThe sgender sof sthe sapplicant.
DThe stype sof spolicy srequested. s- sCorrect s sAnswer s- sB. sWhether san sinsurable sinterest sexist sbetween sthe
sindividuals.
All sof sthe sfollowing sare sduties sand sresponsibilities sof sproducers sat sthe stime sof sapplication sEXCEPT
AChange sany sincorrect sstatement son sthe sapplication sby spersonally sinitialing snext sto sthe scorrected
sstatement.
BExplain sthe snature sand stype sof sany sreceipt sthe sproducer sis sgiving sto sthe sapplicant.
CProbe sbeyond sthe sstated squestions sif sthe sproducer sfeels sthe sapplicant sis smisrepresenting sor
sconcealing sinformation.
DCheck sto smake ssure sthat sthere sare sno sunanswered squestions son sthe sapplication. s- sCorrect s sAnswer s-
sA. sChange sany sincorrect sstatement son sthe sapplication sby spersonally sinitialing snext sto sthe scorrected
sstatement.
Which sof sthe sfollowing swould sbe sconsidered sa snonmedical sinsurance sapplication?
AAn sapplication sthat sdoes snot sask sany squestions sabout sthe sapplicant's smedical shistory
BAn sapplication ssubmitted swith sthe sAgent's sReport
CAny sapplication sfor slife sinsurance
DAn sapplication son swhich sthe smedical sinformation sis scompleted sby sthe sapplicant sand sthe sagent sonly. s-
sCorrect s sAnswer s- sD. sAn sapplication son swhich sthe smedical sinfo sis scompleted sby sthe sapplicant sand
sagent salone.
Which sof sthe sfollowing sproducts srequires sa ssecurities slicense?
A. sEquity sIndexed sAnnuity
