TEXAS GENERAL LINES LIFE ACCIDENT
AND HEALTH INSURANCE EXAM 2024
COMPLETE 500 QUESTIONS WITH 100%
DETAILED VERIFIED AND CORRECT
ANSWERS ACTUAL BRAND-NEW EXAM
ALREADY GRADED A+
Ben owns a $100.000 policy on his life, which sell to his
younger brother, Bart, for $50.000 Bart names himself
beneficiary and pays the policy's annual
$1.500 premium. For years after the sale, Ben dies, and
Bart receives the policy's $100.000 death benefits. Under
the transfer-for-value rule, what is Bart's taxable "gain"
on the policy -
....ANSWER...$44,000
Because, Bart's gain in the policy is $44.000: the
$100.000 death benefits less the $50.000 porches price
and $6.000 premium paid
Under the Age Discrimination in Employment Act, an
employer that reduces group health benefits for older
employees must: - ....ANSWER...maintain equal
contributions for all employees
1
,Because the cost of reduced benefits for older employees
is similar to the cost of full benefits for younger workers.
Therefore, the employer must maintain equal
contribution for all employees.
JANET is licensed life insurance agent in Texas and was
so busy with her insurance practice that she forgot to
complement all of her continuing education credits. How
long is the grace period she has to make up the missing
credits - ....ANSWER...She cannot make up the missing
credits
Christina lives in a state that prohibits medical
underwriting in the sale of health insurance. What she
applies for an individual health insurance policy,
the insurer - ....ANSWER...Must use a single community
rate to set the premium
Which of the following statements about insurance
executives bonus plans is correct - ....ANSWER...The
portion of the premium paid by the employer can be
deducted by the employer and is treated as taxable
income to the executive
2
,Under an executive bonus plan, the portion of the
premium paid by the employer is taxable income to the
executive and deductible by the employer
Which is NOT a type a basic medical expense policy -
....ANSWER...lab expense policy
If an applicant for insurance unintentional misstates her
age on her life insurance application, what will the
insurer do if this is discovered after the end of the
contestability period - ....ANSWER...The insurer will re-
calculate the death benefits
Medical expenses insurance plans are divided into which
two clases - ....ANSWER...Indemnity plans and managed
care plans
3
, Ann wants to replace her existing Medicare supplements
policy with another policy because she is not satisfied
with its cost and the type of coverage provided. In this
case, her agent Henry must: -
....ANSWER...Provide a notice regarding replacement to
Anna stating that there will be no duplication of
coverage
The flat benefits amount for partial disability is usually
what percent of the full disability benefits -
....ANSWER...50 percent
Which product supplements Medicare buy offerings
benefits delivered through a network of health care
providers - ....ANSWER...Medicare SELECT plan
Which of the following types of life insurance is the
least expensive way to provide mortgage loan protection
- ....ANSWER...Decreasing term insurance
A business offers a group disability income plan pays
the premium. If an employee suffers a disabling injury,
the benefits paid to the employee will be -
....ANSWER...Taxable income to the employee
Joe is employed by Delta Motors, Inc. He participates in
Deltas,s group health insurance plan for employees.
What should this plan be considered -
4
AND HEALTH INSURANCE EXAM 2024
COMPLETE 500 QUESTIONS WITH 100%
DETAILED VERIFIED AND CORRECT
ANSWERS ACTUAL BRAND-NEW EXAM
ALREADY GRADED A+
Ben owns a $100.000 policy on his life, which sell to his
younger brother, Bart, for $50.000 Bart names himself
beneficiary and pays the policy's annual
$1.500 premium. For years after the sale, Ben dies, and
Bart receives the policy's $100.000 death benefits. Under
the transfer-for-value rule, what is Bart's taxable "gain"
on the policy -
....ANSWER...$44,000
Because, Bart's gain in the policy is $44.000: the
$100.000 death benefits less the $50.000 porches price
and $6.000 premium paid
Under the Age Discrimination in Employment Act, an
employer that reduces group health benefits for older
employees must: - ....ANSWER...maintain equal
contributions for all employees
1
,Because the cost of reduced benefits for older employees
is similar to the cost of full benefits for younger workers.
Therefore, the employer must maintain equal
contribution for all employees.
JANET is licensed life insurance agent in Texas and was
so busy with her insurance practice that she forgot to
complement all of her continuing education credits. How
long is the grace period she has to make up the missing
credits - ....ANSWER...She cannot make up the missing
credits
Christina lives in a state that prohibits medical
underwriting in the sale of health insurance. What she
applies for an individual health insurance policy,
the insurer - ....ANSWER...Must use a single community
rate to set the premium
Which of the following statements about insurance
executives bonus plans is correct - ....ANSWER...The
portion of the premium paid by the employer can be
deducted by the employer and is treated as taxable
income to the executive
2
,Under an executive bonus plan, the portion of the
premium paid by the employer is taxable income to the
executive and deductible by the employer
Which is NOT a type a basic medical expense policy -
....ANSWER...lab expense policy
If an applicant for insurance unintentional misstates her
age on her life insurance application, what will the
insurer do if this is discovered after the end of the
contestability period - ....ANSWER...The insurer will re-
calculate the death benefits
Medical expenses insurance plans are divided into which
two clases - ....ANSWER...Indemnity plans and managed
care plans
3
, Ann wants to replace her existing Medicare supplements
policy with another policy because she is not satisfied
with its cost and the type of coverage provided. In this
case, her agent Henry must: -
....ANSWER...Provide a notice regarding replacement to
Anna stating that there will be no duplication of
coverage
The flat benefits amount for partial disability is usually
what percent of the full disability benefits -
....ANSWER...50 percent
Which product supplements Medicare buy offerings
benefits delivered through a network of health care
providers - ....ANSWER...Medicare SELECT plan
Which of the following types of life insurance is the
least expensive way to provide mortgage loan protection
- ....ANSWER...Decreasing term insurance
A business offers a group disability income plan pays
the premium. If an employee suffers a disabling injury,
the benefits paid to the employee will be -
....ANSWER...Taxable income to the employee
Joe is employed by Delta Motors, Inc. He participates in
Deltas,s group health insurance plan for employees.
What should this plan be considered -
4
