TEXAS LIFE AND HEALTH INSURANCE
EXAM 2026 BANK 2 VERSIONS AND STUDY
GUIDE CURRENTLY TESTING COMPLETE
EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS /EXPERT VERIFIED
/ALREADY GRADED A+
Which policy requires an agent to register with the National
Association of Securities Dealers (NASD) before selling? -
....ANSWER...Variable Life
Which of the following actions require a policy owner to
provide proof of insurability in an Adjustable Life policy? -
....ANSWER...increase face amount
When a policy owner exchanges a term policy for a whole
life policy without providing proof of good health, which of
these apply? - ....ANSWER...Conversion provision
What type of life insurance are credit policies issued as? -
....ANSWER...Term
,How long does the coverage normally remain on a limited-
pay life policy? - ....ANSWER...age 100
All of these statements about Equity Indexed Life Insurance
are correct EXCEPT
Cash value has a minimum rate of accumulation
If the gain on the index goes beyond the policy's minimum
rate of return, the cash value will mirror that of the index
The premiums can be lowered or raised, based on
investment performance
Tied to an equity index such as the S&P 500 -
....ANSWER...The premiums can be lowered or raised, based
on investment performance
Which of these is an element of a Variable Life policy? -
....ANSWER...A fixed, level premium
What type of life insurance incorporates flexible premiums
and an adjustable death benefit? - ....ANSWER...Universal
Life
,T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy
should T purchase? - ....ANSWER...Ten-Year Endowment
What type of life policy covers 2 lives and pays the face
amount after the first one dies? - ....ANSWER...Joint Life
Policy
Life insurance that covers an insured's whole life with level
premiums paid over a limited time is called -
....ANSWER...Limited-Pay Life
What kind of life insurance product covers children under
their parent's policy? - ....ANSWER...Term rider
Which is true concerning a Variable Universal Life policy?
Policyowner controls where the investment will go and
selects the amount of the premium payment
Policyowner has no say where the investment will go but
can choose the premium mode
The investment vehicle for this type of policy is held in the
insurer's general portfolio
, The death benefit can vary but the policyowner has no say in
the premium amount paid - ....ANSWER...Policyowner
controls where the investment will go and selects the amount
of the premium payment
P is looking to purchase a life insurance policy that will pay
a stated monthly income to his beneficiaries for 20 years
after he dies and a lump sum of $20,000 at the end of that 20
year period. What type of policy should P purchase? -
....ANSWER...Family Maintenance policy
Which of the following statements about a Variable Whole
Life policy is CORRECT?
It provides a minimum guaranteed Death benefit
It is a combination of a Limited Period Endowment and a
Decreasing Term policy
Its premiums and benefits are variable
It has a guaranteed rate of return - ....ANSWER...It provides
a minimum guaranteed Death benefit
Credit Life insurance is - ....ANSWER...issued in an
amount not to exceed the amount of the loan
EXAM 2026 BANK 2 VERSIONS AND STUDY
GUIDE CURRENTLY TESTING COMPLETE
EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS /EXPERT VERIFIED
/ALREADY GRADED A+
Which policy requires an agent to register with the National
Association of Securities Dealers (NASD) before selling? -
....ANSWER...Variable Life
Which of the following actions require a policy owner to
provide proof of insurability in an Adjustable Life policy? -
....ANSWER...increase face amount
When a policy owner exchanges a term policy for a whole
life policy without providing proof of good health, which of
these apply? - ....ANSWER...Conversion provision
What type of life insurance are credit policies issued as? -
....ANSWER...Term
,How long does the coverage normally remain on a limited-
pay life policy? - ....ANSWER...age 100
All of these statements about Equity Indexed Life Insurance
are correct EXCEPT
Cash value has a minimum rate of accumulation
If the gain on the index goes beyond the policy's minimum
rate of return, the cash value will mirror that of the index
The premiums can be lowered or raised, based on
investment performance
Tied to an equity index such as the S&P 500 -
....ANSWER...The premiums can be lowered or raised, based
on investment performance
Which of these is an element of a Variable Life policy? -
....ANSWER...A fixed, level premium
What type of life insurance incorporates flexible premiums
and an adjustable death benefit? - ....ANSWER...Universal
Life
,T would like to be assured $10,000 is available in 10 years to
replace a roof on his house. What kind of $10,000 policy
should T purchase? - ....ANSWER...Ten-Year Endowment
What type of life policy covers 2 lives and pays the face
amount after the first one dies? - ....ANSWER...Joint Life
Policy
Life insurance that covers an insured's whole life with level
premiums paid over a limited time is called -
....ANSWER...Limited-Pay Life
What kind of life insurance product covers children under
their parent's policy? - ....ANSWER...Term rider
Which is true concerning a Variable Universal Life policy?
Policyowner controls where the investment will go and
selects the amount of the premium payment
Policyowner has no say where the investment will go but
can choose the premium mode
The investment vehicle for this type of policy is held in the
insurer's general portfolio
, The death benefit can vary but the policyowner has no say in
the premium amount paid - ....ANSWER...Policyowner
controls where the investment will go and selects the amount
of the premium payment
P is looking to purchase a life insurance policy that will pay
a stated monthly income to his beneficiaries for 20 years
after he dies and a lump sum of $20,000 at the end of that 20
year period. What type of policy should P purchase? -
....ANSWER...Family Maintenance policy
Which of the following statements about a Variable Whole
Life policy is CORRECT?
It provides a minimum guaranteed Death benefit
It is a combination of a Limited Period Endowment and a
Decreasing Term policy
Its premiums and benefits are variable
It has a guaranteed rate of return - ....ANSWER...It provides
a minimum guaranteed Death benefit
Credit Life insurance is - ....ANSWER...issued in an
amount not to exceed the amount of the loan
