Texas Life Health insurance exam
|Questions with 100% Correct
Answers
When determining the monthly benefit amount for a disability amount for a
disability Income policy, the factor that limits the amount a prospective insured
may purchase is: - ✔ ✔ Income
Which of the following is TRUE is the owner of an IRA names their spouse as
beneficiary, but then dies before any distributions are made? - ✔ ✔ The
account can be rolled into the surviving spouse's IRA
A life policy with a death benefit and cash value that can fluctuate according to
the performance of its underlying investment portfolio is referred to as: - ✔ ✔
Variable Life
Under an interest sensitive whole life policy - ✔ ✔ cash values are determined
by interest rates
To terminate an agent's appointment, an insurance company must - ✔ ✔
send termination notice to the Texas Department of Insurance
Deductibles are used in health policies to lower - ✔ ✔ overuse of medical services
,An insured is past due on his life insurance premium, but is still within the Grace
Period. What will the beneficiary receive if the insured dies during this Grace
Period? - ✔ ✔ Full face amount minus any past due premiums
In Texas, how long must a policy be enforce before an insurance company must
pay death benefits for suicide? - ✔ ✔ 2 years
S, age 40, is looking to buy a Life Insurance policy that will allow for increases or
decreases in coverage as his needs change. The policy best suited for S would be
- ✔ ✔ Universal Life
Under a Graded Premium Whole Life policy, - ✔ ✔ the premium increases each
year during the early years of the contract and remains the same after that time
If its employees share in the cost of insurance, what type of group life
insurance plan would a corporation have? - ✔ ✔ Contributory
Which of the following types of care is typically not covered in a Long-Term Care
policy? - ✔ ✔ Acupuncture
A pilot applies for Life Insurance. The insurer approves the application with a
$10 additional monthly premium modification due to the risk involved. The pilot
declines the additional premium modification. The insurer will then likely issue
the coverage with a(n) - ✔ ✔ Aviation Exclusion
K has inherited a large sum of money. K purchases an annuity with this sum on July
1, and starts receiving payments August 1. These payments will continue for
, as long as she and her spouse lives. Which type of annuity did K purchase? -
✔ ✔ Single Premium Immediate Joint with Survivor Annuity
The most important factor to consider when determining whether to convert
term insurance at the insured's attained age or the insured's original age is: -
✔ ✔ The Cost
An insurance applicant MUST be informed of an investigation regarding
his/her reputation and character according to the - ✔ ✔ Fair Credit Reporting
Act
Before a life policy is issued, which of these contract elements is necessary? -
✔ ✔ A signed application by the prospect
Which statement is TRUE in regards to a policy loan? - ✔ ✔ Past-due interest on
a policy loan is added to the total debt
An immediate annuity consists of a - ✔ ✔ Single Premium
Tom has a qualified retirement plan with his employer that is currently considered
to be 80% "vested". How can this be interpreted? - ✔ ✔ If Tom's employment is
terminated, 20% of the funds would be forfeited
If the insured and primary beneficiary are both killed in the same accident and it
cannot be determined who died first, where are the death proceeds to be
directed under the Uniform Simultaneous Death Act? - ✔ ✔ Insured's
contingent beneficiary
|Questions with 100% Correct
Answers
When determining the monthly benefit amount for a disability amount for a
disability Income policy, the factor that limits the amount a prospective insured
may purchase is: - ✔ ✔ Income
Which of the following is TRUE is the owner of an IRA names their spouse as
beneficiary, but then dies before any distributions are made? - ✔ ✔ The
account can be rolled into the surviving spouse's IRA
A life policy with a death benefit and cash value that can fluctuate according to
the performance of its underlying investment portfolio is referred to as: - ✔ ✔
Variable Life
Under an interest sensitive whole life policy - ✔ ✔ cash values are determined
by interest rates
To terminate an agent's appointment, an insurance company must - ✔ ✔
send termination notice to the Texas Department of Insurance
Deductibles are used in health policies to lower - ✔ ✔ overuse of medical services
,An insured is past due on his life insurance premium, but is still within the Grace
Period. What will the beneficiary receive if the insured dies during this Grace
Period? - ✔ ✔ Full face amount minus any past due premiums
In Texas, how long must a policy be enforce before an insurance company must
pay death benefits for suicide? - ✔ ✔ 2 years
S, age 40, is looking to buy a Life Insurance policy that will allow for increases or
decreases in coverage as his needs change. The policy best suited for S would be
- ✔ ✔ Universal Life
Under a Graded Premium Whole Life policy, - ✔ ✔ the premium increases each
year during the early years of the contract and remains the same after that time
If its employees share in the cost of insurance, what type of group life
insurance plan would a corporation have? - ✔ ✔ Contributory
Which of the following types of care is typically not covered in a Long-Term Care
policy? - ✔ ✔ Acupuncture
A pilot applies for Life Insurance. The insurer approves the application with a
$10 additional monthly premium modification due to the risk involved. The pilot
declines the additional premium modification. The insurer will then likely issue
the coverage with a(n) - ✔ ✔ Aviation Exclusion
K has inherited a large sum of money. K purchases an annuity with this sum on July
1, and starts receiving payments August 1. These payments will continue for
, as long as she and her spouse lives. Which type of annuity did K purchase? -
✔ ✔ Single Premium Immediate Joint with Survivor Annuity
The most important factor to consider when determining whether to convert
term insurance at the insured's attained age or the insured's original age is: -
✔ ✔ The Cost
An insurance applicant MUST be informed of an investigation regarding
his/her reputation and character according to the - ✔ ✔ Fair Credit Reporting
Act
Before a life policy is issued, which of these contract elements is necessary? -
✔ ✔ A signed application by the prospect
Which statement is TRUE in regards to a policy loan? - ✔ ✔ Past-due interest on
a policy loan is added to the total debt
An immediate annuity consists of a - ✔ ✔ Single Premium
Tom has a qualified retirement plan with his employer that is currently considered
to be 80% "vested". How can this be interpreted? - ✔ ✔ If Tom's employment is
terminated, 20% of the funds would be forfeited
If the insured and primary beneficiary are both killed in the same accident and it
cannot be determined who died first, where are the death proceeds to be
directed under the Uniform Simultaneous Death Act? - ✔ ✔ Insured's
contingent beneficiary
