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TEXAS GENERAL LINES, LIFE,
ACCIDENT AND HEALTH INSURANCE
2 NEWEST VERSIONS 2024 REAL
EXAM COMPLETE 600 QUESTIONS
AND 100% CORRECT ANSWERS||
ALREADY GRADED A+
VERSION 1
LIFE SECTION 1 ✔✔✔✔✔✔ANSWER➖LIFE SECTION 1
1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to
cover a 20-year-amortized $50,000 business-improvement loan. Which of the
following plans would adequately protect Ms. Timms at the minimum premium
outlay? ✔✔✔✔✔✔ANSWER➖A- $50,000 Whole Life policy
B- $50,000 Level Term policy for 20 years
C- $50,000 20 Pay Life policy
D- $50,000 Decreasing Term policy for 20 years
2) A 45-year old customer who is seeking to supplement his retirement income at
age 65 would not buy a: ✔✔✔✔✔✔ANSWER➖A- Deferred Annuity
B- Equity Indexed Annuity
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C- Variable Annuity
D- Immediate Annuity
3) John Livingston owns a 30-Pay Life policy that he purchased at the age of 30.
The cash value will equal the face amount of the policy when he reaches the age
of: ✔✔✔✔✔✔ANSWER➖A- 60
B- 70
C- 100
D- 30
4) Which of the following is an example of a Limited-Pay Life policy?
✔✔✔✔✔✔ANSWER➖A- Universal life
B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age 70
5) Which of the following policies provides the greatest amount of protection for
an insured's premium dollar as well as some cash accumulation?
✔✔✔✔✔✔ANSWER➖A- Annuity
B- Whole Life
C- Term
D- Limited-Pay Life
6) Which of the following individual policy conversions is usually permitted
without any evidence of insurability? ✔✔✔✔✔✔ANSWER➖A- Conversion to a
lower-premium plan
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B- Conversion from a Whole Life policy to a Term policy
C- Conversion from a Term policy to a Whole Life policy
D- Conversion to a larger amount of insurance
7) Which of the following is NOT correct regarding Ordinary Whole Life policies?
✔✔✔✔✔✔ANSWER➖A- The premiums payments are owed annually until you
die or reach age 100
B- The cash value grows more quickly in the beginning years of the policy
C- Coverage lasts for your own life
D- Ordinary Whole Life is a type of permanent insurance
8) Which of the following statements is true about the premium payment schedule
for a Whole Life policy? ✔✔✔✔✔✔ANSWER➖A- Premiums are payable for a
designated period of time only, after which coverage is no longer provided
B- Premiums are payable until the insured's retirement only, after which coverage
is continued automatically until the insured's death
C- One premium, in the amount of the insured's choice, is payable at the time of
application, and the balance of the premiums is deducted from the face amount of
the policy at the time of the insured's death
D- Premiums are payable throughout the insured's lifetime, and coverage continues
until the insured's death
9) A life insurance policy that covers two parties, but only pays when the last party
dies is known as: ✔✔✔✔✔✔ANSWER➖A- Joint Life
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B- Contingent Life
C- Other insured Life
D- Survivorship Life
10) Which of the following contracts requires that a series of benefit payments be
made at specified intervals? ✔✔✔✔✔✔ANSWER➖A- 20-Pay Life
B- Modified Whole Life
C- Annuity
D- Ordinary Whole Life
11) If a client wants cash value life insurance with a flexible premium and an
adjustable death benefit that will allow the policy owner a choice of various cash
value investment options, he should buy: ✔✔✔✔✔✔ANSWER➖A- Variable Life
B- Universal Life
C- Adjustable Life
D- Variable/Universal Life
12) If a person wants to invest a lump sum in an annuity that may appreciate along
with market and economic conditions, they should buy a:
✔✔✔✔✔✔ANSWER➖A- Flexible premium Annuity
B- Fixed Annuity
C- Deferred Annuity
D- Variable Annuity
TEXAS GENERAL LINES, LIFE,
ACCIDENT AND HEALTH INSURANCE
2 NEWEST VERSIONS 2024 REAL
EXAM COMPLETE 600 QUESTIONS
AND 100% CORRECT ANSWERS||
ALREADY GRADED A+
VERSION 1
LIFE SECTION 1 ✔✔✔✔✔✔ANSWER➖LIFE SECTION 1
1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to
cover a 20-year-amortized $50,000 business-improvement loan. Which of the
following plans would adequately protect Ms. Timms at the minimum premium
outlay? ✔✔✔✔✔✔ANSWER➖A- $50,000 Whole Life policy
B- $50,000 Level Term policy for 20 years
C- $50,000 20 Pay Life policy
D- $50,000 Decreasing Term policy for 20 years
2) A 45-year old customer who is seeking to supplement his retirement income at
age 65 would not buy a: ✔✔✔✔✔✔ANSWER➖A- Deferred Annuity
B- Equity Indexed Annuity
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C- Variable Annuity
D- Immediate Annuity
3) John Livingston owns a 30-Pay Life policy that he purchased at the age of 30.
The cash value will equal the face amount of the policy when he reaches the age
of: ✔✔✔✔✔✔ANSWER➖A- 60
B- 70
C- 100
D- 30
4) Which of the following is an example of a Limited-Pay Life policy?
✔✔✔✔✔✔ANSWER➖A- Universal life
B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age 70
5) Which of the following policies provides the greatest amount of protection for
an insured's premium dollar as well as some cash accumulation?
✔✔✔✔✔✔ANSWER➖A- Annuity
B- Whole Life
C- Term
D- Limited-Pay Life
6) Which of the following individual policy conversions is usually permitted
without any evidence of insurability? ✔✔✔✔✔✔ANSWER➖A- Conversion to a
lower-premium plan
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B- Conversion from a Whole Life policy to a Term policy
C- Conversion from a Term policy to a Whole Life policy
D- Conversion to a larger amount of insurance
7) Which of the following is NOT correct regarding Ordinary Whole Life policies?
✔✔✔✔✔✔ANSWER➖A- The premiums payments are owed annually until you
die or reach age 100
B- The cash value grows more quickly in the beginning years of the policy
C- Coverage lasts for your own life
D- Ordinary Whole Life is a type of permanent insurance
8) Which of the following statements is true about the premium payment schedule
for a Whole Life policy? ✔✔✔✔✔✔ANSWER➖A- Premiums are payable for a
designated period of time only, after which coverage is no longer provided
B- Premiums are payable until the insured's retirement only, after which coverage
is continued automatically until the insured's death
C- One premium, in the amount of the insured's choice, is payable at the time of
application, and the balance of the premiums is deducted from the face amount of
the policy at the time of the insured's death
D- Premiums are payable throughout the insured's lifetime, and coverage continues
until the insured's death
9) A life insurance policy that covers two parties, but only pays when the last party
dies is known as: ✔✔✔✔✔✔ANSWER➖A- Joint Life
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B- Contingent Life
C- Other insured Life
D- Survivorship Life
10) Which of the following contracts requires that a series of benefit payments be
made at specified intervals? ✔✔✔✔✔✔ANSWER➖A- 20-Pay Life
B- Modified Whole Life
C- Annuity
D- Ordinary Whole Life
11) If a client wants cash value life insurance with a flexible premium and an
adjustable death benefit that will allow the policy owner a choice of various cash
value investment options, he should buy: ✔✔✔✔✔✔ANSWER➖A- Variable Life
B- Universal Life
C- Adjustable Life
D- Variable/Universal Life
12) If a person wants to invest a lump sum in an annuity that may appreciate along
with market and economic conditions, they should buy a:
✔✔✔✔✔✔ANSWER➖A- Flexible premium Annuity
B- Fixed Annuity
C- Deferred Annuity
D- Variable Annuity
