TX Life Agent Pearson VUE Exam
Questions With Detailed Solutions Rated
A+
The agent and the policyowner - CORRECT ANSWER-Who must sign the application
Representations - CORRECT ANSWER-Statements believed to be true to the best of
one's knowledge are
When the policy is delivered and the first premium is paid - CORRECT ANSWER-If an
agent accepts a completed application without the first premium, when does coverage
become effective
Replacement - CORRECT ANSWER-A practice of terminating an existing policy or
letting it lapse, and obtaining a new one.
Aleatory - CORRECT ANSWER-The term that refers to the unequal exchange of values
given between the two parties in a contract is
Legal Purpose - CORRECT ANSWER-Which element of contract law requires that
contracts must not go against public policy must have insurable interest and must have
the consent of the proposed insured
Fair Credit Reporting Act - CORRECT ANSWER-A name of the federal law governing
the collection dissemination and use of consumer information is the
An independent investigating firm - CORRECT ANSWER-The MIB is all of the following
EXCEPT
, Annually - CORRECT ANSWER-Which of the following is the least expensice method of
paying life insurance
Money Laundering - CORRECT ANSWER-The Process of taking financial proceeds
from illegal activites and placing them into financial systems to disguise their origins is
known as
Substandard - CORRECT ANSWER-What is the risk classification for those who are
insurable, but have a higher than average risk?
Consideration - CORRECT ANSWER-In the formation of a legal contract each party
must give something of value. under contract law, this is referred to as.
unilateral - CORRECT ANSWER-A legal contract in which only one party makes a
legally binding promise is
When the agent helps the applicant complete the application - CORRECT ANSWER-
When must insurable interest exist
Initialed by the applicant - CORRECT ANSWER-Changes to a written life insurance
application must be
Term Life - CORRECT ANSWER-What type of policy is considred temporary protection
Convertible Term policy - CORRECT ANSWER-The type of policy that can be changed
from one that does not accumulate cash value to the one that does, is a...
Questions With Detailed Solutions Rated
A+
The agent and the policyowner - CORRECT ANSWER-Who must sign the application
Representations - CORRECT ANSWER-Statements believed to be true to the best of
one's knowledge are
When the policy is delivered and the first premium is paid - CORRECT ANSWER-If an
agent accepts a completed application without the first premium, when does coverage
become effective
Replacement - CORRECT ANSWER-A practice of terminating an existing policy or
letting it lapse, and obtaining a new one.
Aleatory - CORRECT ANSWER-The term that refers to the unequal exchange of values
given between the two parties in a contract is
Legal Purpose - CORRECT ANSWER-Which element of contract law requires that
contracts must not go against public policy must have insurable interest and must have
the consent of the proposed insured
Fair Credit Reporting Act - CORRECT ANSWER-A name of the federal law governing
the collection dissemination and use of consumer information is the
An independent investigating firm - CORRECT ANSWER-The MIB is all of the following
EXCEPT
, Annually - CORRECT ANSWER-Which of the following is the least expensice method of
paying life insurance
Money Laundering - CORRECT ANSWER-The Process of taking financial proceeds
from illegal activites and placing them into financial systems to disguise their origins is
known as
Substandard - CORRECT ANSWER-What is the risk classification for those who are
insurable, but have a higher than average risk?
Consideration - CORRECT ANSWER-In the formation of a legal contract each party
must give something of value. under contract law, this is referred to as.
unilateral - CORRECT ANSWER-A legal contract in which only one party makes a
legally binding promise is
When the agent helps the applicant complete the application - CORRECT ANSWER-
When must insurable interest exist
Initialed by the applicant - CORRECT ANSWER-Changes to a written life insurance
application must be
Term Life - CORRECT ANSWER-What type of policy is considred temporary protection
Convertible Term policy - CORRECT ANSWER-The type of policy that can be changed
from one that does not accumulate cash value to the one that does, is a...
