TEXAS STATE EXAM SIMULATOR - LIFE
AND HEALTH INSURANCE (200
QUESTIONS PRACTICE EXAM)
QUESTIONS WITH COMPLETE
ANSWERS
An ggannuity ggpromises ggthat, ggif ggthe ggannuitant ggdies ggbefore ggreceiving ggpayments
ggequal ggto ggthe ggcorrect ggvalue, ggthe ggpayments ggwill ggbe ggcontinued ggto gga
ggbeneficiary gguntil ggan ggamount ggequal ggto ggthe ggcontract ggvalue gghas ggbeen ggpaid.
ggThis ggtype ggof ggannuity ggis ggcalled
ggAn gginstallment ggRefund ggannuity
ggA ggStraight ggLife ggannuity
ggA ggCash ggRefund ggannuity
ggA ggJoint ggLife ggannuity gg- ggAnswer ggAn gginstallment ggRefund ggannuity
One ggbecomes ggeligible ggfor ggSocial ggSecurity ggdisability ggbenefits ggafter gghaving
ggbeen ggdisabled ggfor
gg3 ggmonths
gg5 ggmonths
gg6 ggmonths
gg12 ggmonths gg- ggAnswer gg5 ggmonths
A ggpotential ggclient, ggage gg40, ggwould gglike ggto ggpurchase gga ggWhole ggLife ggpolicy
ggthat ggwill ggaccumulate ggcash ggvalue ggat gga ggfaster ggrate ggin ggthe ggearly ggyears ggof
ggthe ggpolicy. ggWhich ggof ggthese ggstatements ggmade ggby ggthe ggproducer ggwould ggbe
ggcorrect?
ggStraight gglife ggaccumulates ggfaster ggthan ggLimited-pay ggLife
gg20-Pay ggLife ggaccumulates ggcash ggvalue ggfaster ggthan ggStraight ggLife
ggCash ggvalue ggaccumulation ggof ggboth gg20-Pay ggLife ggand ggStraight ggLife ggdepend
ggon ggthe gginsurer's ggfinancial ggrating
gg20-Pay ggLife ggand ggStraight ggLife ggaccumulate ggcash ggvalue ggat ggthe ggsame ggrate
gg- ggAnswer gg20-Pay ggLife ggaccumulates ggcash ggvalue ggfaster ggthan ggStraight ggLife
,Who ggmakes ggthe gglegally ggenforceable ggpromises ggin gga ggunilateral gginsurance
ggpolicy?
ggBeneficiary
ggInsurance ggcompany
ggInsured
ggApplicant gg- ggAnswer ggInsurance ggcompany
The ggConsideration ggclause ggin gga gglife gginsurance ggpolicy ggindicates ggthat gga
ggpolicyowner's ggconsideration ggconsists ggof gga ggcompleted ggapplication ggand
ggthe gginitial ggpremium
ggagreeing ggto gga ggphysical ggexamination
ggdelivery ggof ggpolicy
ggdisclosure ggof ggany ggmedical ggconditions gg- ggAnswer ggthe gginitial ggpremium
Which ggparts ggof gga gglife gginsurance ggpolicy ggare ggguaranteed ggto ggbe ggtrue?
ggRating
ggRepresentation
ggStatement
ggWarranty gg- ggAnswer ggWarranty
A ggcomprehensive ggmajor ggmedical gghealth gginsurance ggpolicy ggcontains ggan
ggEligible ggExpenses ggprovision ggwhich ggidentifies ggthe ggtypes ggof gghealth ggcare
ggservices ggthat ggare ggcovered. ggAll ggof ggthe ggfollowing gghealth ggcare ggservices ggare
ggtypically ggcovered ggEXCEPT ggfor
gghospital ggcharges
ggphysician ggfees
ggexperimental ggand gginvestigative ggservices
ggnursing ggservices gg- ggAnswer ggexperimental ggand gginvestigative ggservices
If gga ggretiree ggon ggMedicare ggrequired ggfive gghospital ggstays ggin ggone ggyear, ggwhich
ggpolicy ggwould ggprovide ggthe ggbest gginsurance ggfor ggexcess gghospital ggexpenses?
ggLong-term ggcare
ggIndemnity
ggMedicare ggSupplement
ggMedicaid gg- ggAnswer ggMedicare ggSupplement
S, ggwhile ggin ggthe ggprocess ggof ggconverting ggher gggroup gglife gginsurance ggto ggan
ggindividual ggpolicy, ggdies. ggWhat gghappens ggto ggthe ggclaim ggher ggbeneficiary
ggsubmits?
,ggNo ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
ggFull ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
ggFull ggbenefits ggare ggpayable ggunder ggthe ggconverted ggpolicy
ggBenefits ggless ggrequired ggpremium ggare ggpayable ggunder ggthe ggconverted ggpolicy
gg- ggAnswer ggFull ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
All ggof ggthe ggfollowing ggare gglimited ggbenefit ggplans ggEXCEPT gg
ggcancer ggpolicies
gglife gginsurance ggpolicies
ggdental ggpolicies
ggcritical ggillness ggpolicies gg- ggAnswer gglife gginsurance ggpolicies
A ggphysician ggopens ggup gga ggnew ggpractice ggand ggqualifies ggfor gga gg$7,000/month
ggDisability ggIncome ggpolicy. ggWhat ggrider ggwould ggthe ggphysician ggadd ggif gghe
ggwants ggthe ggability ggto ggincrease gghis ggpolicy ggbenefit ggas gghis ggpractice ggand
ggincome gggrow?
ggExtended ggTerm ggrider
ggCost ggof ggLiving ggAdjustment ggrider
ggGuaranteed ggInsurability ggOption ggrider
ggWaiver ggof ggPremium ggrider gg- ggAnswer ggGuaranteed ggInsurability ggOption ggrider
An ggagent ggwhose gglicense gghas ggbeen ggrevoked ggis ggrequired ggto
ggwait ggat ggleast ggfive ggyears ggbefore ggapplying ggfor gga ggnew gglicense
ggsubmit ggall ggpreviously ggwritten ggpolicies ggto ggthe ggCommissioner ggof ggInsurance's
ggoffice ggfor ggservicing ggof ggthe ggaccounts
ggcancel ggall ggpolicies ggcurrently ggin ggeffect ggand ggadvise ggthe gginsureds ggto ggplace
ggthem ggelsewhere
ggcontinue ggto ggservice ggthe ggexisting ggaccounts ggbut ggnot ggsolicit ggnew ggbusiness
gg- ggAnswer ggwait ggat ggleast ggfive ggyears ggbefore ggapplying ggfor gga ggnew gglicense
The ggbenefits ggunder gga ggDisability ggBuy-Out ggpolicy ggare
ggnormally ggpaid ggin gginstallments
ggtaxable ggto ggthe ggbeneficiary
ggpayable ggto ggthe ggcompany ggor gganother ggshareholder
ggnormally ggpaid ggafter gga ggshort ggelimination ggperiod gg- ggAnswer ggpayable ggto ggthe
ggcompany ggor gganother ggshareholder
he ggHealth ggInsurance ggPortability ggand ggAccountability ggAct gg(HIPAA) gggives
ggprivacy ggprotection ggfor
gginsolvency
gghealth gginformation
, ggfinancial gginformation
ggoverinsurance gg- ggAnswer gghealth gginformation
How ggare ggsurrender ggcharges ggdeducted ggin gga gglife ggpolicy ggwith gga ggrear-end
ggloaded ggprovision?
ggDeducted ggfrom ggthe ggdeath ggbenefit
ggDeducted ggwhen ggthe ggpolicy ggis ggdiscontinued
ggDeducted ggfrom ggpolicy's ggcash ggvalue
ggDeducted ggwhen ggassigned ggto gganother ggpolicyowner gg- ggAnswer ggDeducted
ggwhen ggthe ggpolicy ggis ggdiscontinued
What ggMUST ggan gginsurance ggcompany gguse ggin ggits ggadvertising?
ggIts ggtrade ggname
ggIts ggtrue ggcorporate ggname
ggIts ggservice ggmark
ggIts ggcorporate gglogo gg- ggAnswer ggIts ggtrue ggcorporate ggname
An ggaccident ggpolicy ggwill ggmost gglikely ggpay gga ggbenefit ggfor gga(n)
ggself-inflicted gginjury
ggcritical ggillness
ggon-the-job ggaccident
ggoff-the-job ggaccident gg- ggAnswer ggoff-the-job ggaccident
M ggcompletes ggan ggapplication ggfor gglife gginsurance ggbut ggdoes ggnot ggpay ggthe
gginitial ggpremium. ggAll ggof ggthese ggactions ggmust ggoccur ggbefore ggM's ggpolicy gggoes
gginto ggeffect ggEXCEPT
ggpolicy ggis ggdelivered
ggfree-look ggperiod gghas ggexpired
gginsurance ggcompany ggissues ggpolicy
gginitial ggpremium ggis ggcollected gg- ggAnswer ggfree-look ggperiod gghas ggexpired
When gga ggpolicyowner ggcash ggsurrenders gga ggUniversal ggLife gginsurance ggpolicy ggin
ggit's ggearly ggyears, ggthis ggmay ggbe ggconsidered gga ggred ggflag ggfor gga(n)
ggFederal ggFair ggCredit ggAct ggViolation
ggTitle gg18 ggFraud ggviolation
ggAnti-Money ggLaundering ggviolation
ggUnfair ggTrade ggPractice ggviolation gg- ggAnswer ggAnti-Money ggLaundering ggviolation
Which ggof ggthese ggdo ggNOT ggconstitute ggpolicy ggdelivery?
ggPolicy ggmailed ggto ggapplicant
AND HEALTH INSURANCE (200
QUESTIONS PRACTICE EXAM)
QUESTIONS WITH COMPLETE
ANSWERS
An ggannuity ggpromises ggthat, ggif ggthe ggannuitant ggdies ggbefore ggreceiving ggpayments
ggequal ggto ggthe ggcorrect ggvalue, ggthe ggpayments ggwill ggbe ggcontinued ggto gga
ggbeneficiary gguntil ggan ggamount ggequal ggto ggthe ggcontract ggvalue gghas ggbeen ggpaid.
ggThis ggtype ggof ggannuity ggis ggcalled
ggAn gginstallment ggRefund ggannuity
ggA ggStraight ggLife ggannuity
ggA ggCash ggRefund ggannuity
ggA ggJoint ggLife ggannuity gg- ggAnswer ggAn gginstallment ggRefund ggannuity
One ggbecomes ggeligible ggfor ggSocial ggSecurity ggdisability ggbenefits ggafter gghaving
ggbeen ggdisabled ggfor
gg3 ggmonths
gg5 ggmonths
gg6 ggmonths
gg12 ggmonths gg- ggAnswer gg5 ggmonths
A ggpotential ggclient, ggage gg40, ggwould gglike ggto ggpurchase gga ggWhole ggLife ggpolicy
ggthat ggwill ggaccumulate ggcash ggvalue ggat gga ggfaster ggrate ggin ggthe ggearly ggyears ggof
ggthe ggpolicy. ggWhich ggof ggthese ggstatements ggmade ggby ggthe ggproducer ggwould ggbe
ggcorrect?
ggStraight gglife ggaccumulates ggfaster ggthan ggLimited-pay ggLife
gg20-Pay ggLife ggaccumulates ggcash ggvalue ggfaster ggthan ggStraight ggLife
ggCash ggvalue ggaccumulation ggof ggboth gg20-Pay ggLife ggand ggStraight ggLife ggdepend
ggon ggthe gginsurer's ggfinancial ggrating
gg20-Pay ggLife ggand ggStraight ggLife ggaccumulate ggcash ggvalue ggat ggthe ggsame ggrate
gg- ggAnswer gg20-Pay ggLife ggaccumulates ggcash ggvalue ggfaster ggthan ggStraight ggLife
,Who ggmakes ggthe gglegally ggenforceable ggpromises ggin gga ggunilateral gginsurance
ggpolicy?
ggBeneficiary
ggInsurance ggcompany
ggInsured
ggApplicant gg- ggAnswer ggInsurance ggcompany
The ggConsideration ggclause ggin gga gglife gginsurance ggpolicy ggindicates ggthat gga
ggpolicyowner's ggconsideration ggconsists ggof gga ggcompleted ggapplication ggand
ggthe gginitial ggpremium
ggagreeing ggto gga ggphysical ggexamination
ggdelivery ggof ggpolicy
ggdisclosure ggof ggany ggmedical ggconditions gg- ggAnswer ggthe gginitial ggpremium
Which ggparts ggof gga gglife gginsurance ggpolicy ggare ggguaranteed ggto ggbe ggtrue?
ggRating
ggRepresentation
ggStatement
ggWarranty gg- ggAnswer ggWarranty
A ggcomprehensive ggmajor ggmedical gghealth gginsurance ggpolicy ggcontains ggan
ggEligible ggExpenses ggprovision ggwhich ggidentifies ggthe ggtypes ggof gghealth ggcare
ggservices ggthat ggare ggcovered. ggAll ggof ggthe ggfollowing gghealth ggcare ggservices ggare
ggtypically ggcovered ggEXCEPT ggfor
gghospital ggcharges
ggphysician ggfees
ggexperimental ggand gginvestigative ggservices
ggnursing ggservices gg- ggAnswer ggexperimental ggand gginvestigative ggservices
If gga ggretiree ggon ggMedicare ggrequired ggfive gghospital ggstays ggin ggone ggyear, ggwhich
ggpolicy ggwould ggprovide ggthe ggbest gginsurance ggfor ggexcess gghospital ggexpenses?
ggLong-term ggcare
ggIndemnity
ggMedicare ggSupplement
ggMedicaid gg- ggAnswer ggMedicare ggSupplement
S, ggwhile ggin ggthe ggprocess ggof ggconverting ggher gggroup gglife gginsurance ggto ggan
ggindividual ggpolicy, ggdies. ggWhat gghappens ggto ggthe ggclaim ggher ggbeneficiary
ggsubmits?
,ggNo ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
ggFull ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
ggFull ggbenefits ggare ggpayable ggunder ggthe ggconverted ggpolicy
ggBenefits ggless ggrequired ggpremium ggare ggpayable ggunder ggthe ggconverted ggpolicy
gg- ggAnswer ggFull ggbenefits ggare ggpayable ggunder ggthe ggMaster ggcontract
All ggof ggthe ggfollowing ggare gglimited ggbenefit ggplans ggEXCEPT gg
ggcancer ggpolicies
gglife gginsurance ggpolicies
ggdental ggpolicies
ggcritical ggillness ggpolicies gg- ggAnswer gglife gginsurance ggpolicies
A ggphysician ggopens ggup gga ggnew ggpractice ggand ggqualifies ggfor gga gg$7,000/month
ggDisability ggIncome ggpolicy. ggWhat ggrider ggwould ggthe ggphysician ggadd ggif gghe
ggwants ggthe ggability ggto ggincrease gghis ggpolicy ggbenefit ggas gghis ggpractice ggand
ggincome gggrow?
ggExtended ggTerm ggrider
ggCost ggof ggLiving ggAdjustment ggrider
ggGuaranteed ggInsurability ggOption ggrider
ggWaiver ggof ggPremium ggrider gg- ggAnswer ggGuaranteed ggInsurability ggOption ggrider
An ggagent ggwhose gglicense gghas ggbeen ggrevoked ggis ggrequired ggto
ggwait ggat ggleast ggfive ggyears ggbefore ggapplying ggfor gga ggnew gglicense
ggsubmit ggall ggpreviously ggwritten ggpolicies ggto ggthe ggCommissioner ggof ggInsurance's
ggoffice ggfor ggservicing ggof ggthe ggaccounts
ggcancel ggall ggpolicies ggcurrently ggin ggeffect ggand ggadvise ggthe gginsureds ggto ggplace
ggthem ggelsewhere
ggcontinue ggto ggservice ggthe ggexisting ggaccounts ggbut ggnot ggsolicit ggnew ggbusiness
gg- ggAnswer ggwait ggat ggleast ggfive ggyears ggbefore ggapplying ggfor gga ggnew gglicense
The ggbenefits ggunder gga ggDisability ggBuy-Out ggpolicy ggare
ggnormally ggpaid ggin gginstallments
ggtaxable ggto ggthe ggbeneficiary
ggpayable ggto ggthe ggcompany ggor gganother ggshareholder
ggnormally ggpaid ggafter gga ggshort ggelimination ggperiod gg- ggAnswer ggpayable ggto ggthe
ggcompany ggor gganother ggshareholder
he ggHealth ggInsurance ggPortability ggand ggAccountability ggAct gg(HIPAA) gggives
ggprivacy ggprotection ggfor
gginsolvency
gghealth gginformation
, ggfinancial gginformation
ggoverinsurance gg- ggAnswer gghealth gginformation
How ggare ggsurrender ggcharges ggdeducted ggin gga gglife ggpolicy ggwith gga ggrear-end
ggloaded ggprovision?
ggDeducted ggfrom ggthe ggdeath ggbenefit
ggDeducted ggwhen ggthe ggpolicy ggis ggdiscontinued
ggDeducted ggfrom ggpolicy's ggcash ggvalue
ggDeducted ggwhen ggassigned ggto gganother ggpolicyowner gg- ggAnswer ggDeducted
ggwhen ggthe ggpolicy ggis ggdiscontinued
What ggMUST ggan gginsurance ggcompany gguse ggin ggits ggadvertising?
ggIts ggtrade ggname
ggIts ggtrue ggcorporate ggname
ggIts ggservice ggmark
ggIts ggcorporate gglogo gg- ggAnswer ggIts ggtrue ggcorporate ggname
An ggaccident ggpolicy ggwill ggmost gglikely ggpay gga ggbenefit ggfor gga(n)
ggself-inflicted gginjury
ggcritical ggillness
ggon-the-job ggaccident
ggoff-the-job ggaccident gg- ggAnswer ggoff-the-job ggaccident
M ggcompletes ggan ggapplication ggfor gglife gginsurance ggbut ggdoes ggnot ggpay ggthe
gginitial ggpremium. ggAll ggof ggthese ggactions ggmust ggoccur ggbefore ggM's ggpolicy gggoes
gginto ggeffect ggEXCEPT
ggpolicy ggis ggdelivered
ggfree-look ggperiod gghas ggexpired
gginsurance ggcompany ggissues ggpolicy
gginitial ggpremium ggis ggcollected gg- ggAnswer ggfree-look ggperiod gghas ggexpired
When gga ggpolicyowner ggcash ggsurrenders gga ggUniversal ggLife gginsurance ggpolicy ggin
ggit's ggearly ggyears, ggthis ggmay ggbe ggconsidered gga ggred ggflag ggfor gga(n)
ggFederal ggFair ggCredit ggAct ggViolation
ggTitle gg18 ggFraud ggviolation
ggAnti-Money ggLaundering ggviolation
ggUnfair ggTrade ggPractice ggviolation gg- ggAnswer ggAnti-Money ggLaundering ggviolation
Which ggof ggthese ggdo ggNOT ggconstitute ggpolicy ggdelivery?
ggPolicy ggmailed ggto ggapplicant
