2025/2026 INSURANCE LICENSE PRACTICE XCEL SOLUTIONS
FINAL EXAM 12 - TEXAS LIFE ONLY ACTUAL COMPLETE 100
REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Question
Credit life insurance is? - ANSWER-insurance issued on a debtor
to cover outstanding loan balance
Question
An example of false advertising would be? - ANSWER-And
insurer exaggerating in dividends in a magazine advertisement
Question
With whom an agent legally share commissions? - ANSWER-
Another agent with the same line of insurance
Question
Insurance agent as a fiduciary responsibility to all of the
following EXCEPT? - ANSWER-Other agents
,Question
Which of these is not an example of doing insurance business?
– ANSWER-Selling shares of stock
Question
taking receipt of premiums and holding them for the insurance
company is an example of? - ANSWER-Fiduciary responsibility
Question
How does an indexed annuity differ from a fixed annuity? -
ANSWER-Indexed annuity owners receive crediting interest time
to the fluctuation of the linked index
Question
which of the following policies combines investment choices
with a form of Term coverage? - ANSWER-Variable universal life
Question
How long does an insurance company appointment remain in
force? – ANSWER-Until terminated
Question
in Texas an individual life insurance policy is REQUIRED to have
a grace period of? - ANSWER-31 days
, Question
Which statement is TRUE regarding a variable whole life policy?
- ANSWER-A minimum guaranteed death benefit is provided
Question
in an insurance contract the insurer is the only party who makes
a – ANSWER-Unilateral
Question
which of these is NOT considered to be an element of an
insurance contract? - ANSWER-Negotiating
Question
What does a 401(k) plan generally provide its participants? -
ANSWER-Salarydeferral contributions
Question
All these statements concerning Settlement Options are true,
EXCEPT? - ANSWER-Only the beneficiary may select
Question
A domestic insurance company in Texas is considered a
company that? - ANSWER-Is incorporated and formed in Texas
FINAL EXAM 12 - TEXAS LIFE ONLY ACTUAL COMPLETE 100
REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Question
Credit life insurance is? - ANSWER-insurance issued on a debtor
to cover outstanding loan balance
Question
An example of false advertising would be? - ANSWER-And
insurer exaggerating in dividends in a magazine advertisement
Question
With whom an agent legally share commissions? - ANSWER-
Another agent with the same line of insurance
Question
Insurance agent as a fiduciary responsibility to all of the
following EXCEPT? - ANSWER-Other agents
,Question
Which of these is not an example of doing insurance business?
– ANSWER-Selling shares of stock
Question
taking receipt of premiums and holding them for the insurance
company is an example of? - ANSWER-Fiduciary responsibility
Question
How does an indexed annuity differ from a fixed annuity? -
ANSWER-Indexed annuity owners receive crediting interest time
to the fluctuation of the linked index
Question
which of the following policies combines investment choices
with a form of Term coverage? - ANSWER-Variable universal life
Question
How long does an insurance company appointment remain in
force? – ANSWER-Until terminated
Question
in Texas an individual life insurance policy is REQUIRED to have
a grace period of? - ANSWER-31 days
, Question
Which statement is TRUE regarding a variable whole life policy?
- ANSWER-A minimum guaranteed death benefit is provided
Question
in an insurance contract the insurer is the only party who makes
a – ANSWER-Unilateral
Question
which of these is NOT considered to be an element of an
insurance contract? - ANSWER-Negotiating
Question
What does a 401(k) plan generally provide its participants? -
ANSWER-Salarydeferral contributions
Question
All these statements concerning Settlement Options are true,
EXCEPT? - ANSWER-Only the beneficiary may select
Question
A domestic insurance company in Texas is considered a
company that? - ANSWER-Is incorporated and formed in Texas
