Texas Life Insurance Actual Final Exam Newest / Texas Life
Insurance Exam Preparation / Texas Life Insurance Practice
Exam With Complete 350 Questions And Correct Detailed
Answers |Already Graded A+(Newest
What is not consider an insurance transaction? - answer-;Obtaining an insurance license
What person is required to a producer license? - answer-;A nonresident agent who negotiates
insurance contracts
What is the minimum required number of continuing education credits in the ethics every
licensing period? - answer-;2 Hours
What is the main purpose of requiring license for persons who transact insurance? - answer-;To
protect insurance companies from incompetent producers
What is NOT an example of a company's location of incorporation? - answer-;Authorized
Agents whose license has been revoked will not be able to receive another license in Texas for at
least.. - answer-;5 Years
How often must producers renew their licenses? - answer-;Every 2 Years
, Representations - answer-;Statement made by the applicant on the insurance application that
are BELIEVED to be true, but are not guaranteed to be true
Fixed annuity - answer-;An annuity that offers fixed payments and guarantees a minimum rate
of interest to be credited to the purchase payment or payments.
Irrevocable designation - answer-;May not be changed WITHOUT THE WRITTEN CONSENT OF
THE BENEFICIARY
Entire Contract - answer-;Stipulates that the policy and a copy of the application, along with any
rider or amendments
Adjustable Life - answer-;Life insurance that permits changes in the face amount, premium
amount, period of protection, and the premium payment period
Insurable Interest - answer-;A financial interest in the life of another person; a possibility of
losing something of value if the insured should die. Must also exist at the time of policy
application or policy issue.
Investigative Consumer Report - answer-;a report similar to consumer report, but one that also
provides information on the consumers character, reputation and habits.
Dividends - answer-;Paid only on participating polices.
A return of excess premiums
Not taxable
Are not Guaranteed
Decreasing Term - answer-;A type of life insurance that features a level premium and a death
benefit that decreases each year over the duration of the policy
Insurance Exam Preparation / Texas Life Insurance Practice
Exam With Complete 350 Questions And Correct Detailed
Answers |Already Graded A+(Newest
What is not consider an insurance transaction? - answer-;Obtaining an insurance license
What person is required to a producer license? - answer-;A nonresident agent who negotiates
insurance contracts
What is the minimum required number of continuing education credits in the ethics every
licensing period? - answer-;2 Hours
What is the main purpose of requiring license for persons who transact insurance? - answer-;To
protect insurance companies from incompetent producers
What is NOT an example of a company's location of incorporation? - answer-;Authorized
Agents whose license has been revoked will not be able to receive another license in Texas for at
least.. - answer-;5 Years
How often must producers renew their licenses? - answer-;Every 2 Years
, Representations - answer-;Statement made by the applicant on the insurance application that
are BELIEVED to be true, but are not guaranteed to be true
Fixed annuity - answer-;An annuity that offers fixed payments and guarantees a minimum rate
of interest to be credited to the purchase payment or payments.
Irrevocable designation - answer-;May not be changed WITHOUT THE WRITTEN CONSENT OF
THE BENEFICIARY
Entire Contract - answer-;Stipulates that the policy and a copy of the application, along with any
rider or amendments
Adjustable Life - answer-;Life insurance that permits changes in the face amount, premium
amount, period of protection, and the premium payment period
Insurable Interest - answer-;A financial interest in the life of another person; a possibility of
losing something of value if the insured should die. Must also exist at the time of policy
application or policy issue.
Investigative Consumer Report - answer-;a report similar to consumer report, but one that also
provides information on the consumers character, reputation and habits.
Dividends - answer-;Paid only on participating polices.
A return of excess premiums
Not taxable
Are not Guaranteed
Decreasing Term - answer-;A type of life insurance that features a level premium and a death
benefit that decreases each year over the duration of the policy
