TEXAS STATE LIFE AND HEALTH INSURANCE
EXAM SIMULATOR 2023-2024 ACTUAL EXAM 300
QUESTIONS AND CORRECT DETAILED ANSWERS
WITH RATIONALES|ALREADY GRADED A+||BRAND
NEW!!
The Universal Life Policy is called an unbundled Life Policy because the policyholder
can see the expense charges, the interest earned, and the – \u2026.ANSWER\u2026Cost of
insurance
The investment gains from a Universal Life Policy usually go toward – \u2026.ANSWER\u2026the
cash value
What is the MINIMUM benefit period that must be offered by a Long-Term Care policy?<\/p>\n\n\n\n
A potential client, age 40, would like to purchase a Whole Life policy that will
accumulate cash value at a faster rate in the early years of the policy. Which of these
statements made by the producer would be correct? -\u2026..ANSWER\u202620-Pay LIfe
accumulates cash value faster than Straight Life
M has an insurance policy that also has an outstanding policy loan at the time of M’s
death. The insurer will deduct the outstanding loan balance from the –
\u2026.ANSWER\u2026policy proceeds
A new agent must complete at LEAST hours of continuing education within 24
months of initial licensure – \u2026.ANSWER\u202624
Which of the following services is NOT covered under hospitalization expense policy? –
\u2026.ANSWER\u2026surgeon’s fees
A person who is insured within a group contract will be given a –
\u2026.ANSWER\u2026certificate
In Texas, which of these statements regarding the Suicide clause is TRUE? –
\u2026.ANSWER\u2026An insurer may not use suicide as a defense against payment after the
second year
An insured’s inability to perform two or more activities of daily living may trigger which
type of policy rider? – \u2026.ANSWER\u2026Long term care
F needs life insurance that provides coverage for only a limited amount of time with a
death benefit that changes regularly according to a schedule. What kind of policy is
needed? – \u2026.ANSWER\u2026Decreasing term policy
An example of an unfair claims settlement practice is – \u2026.ANSWER\u2026turning down a
claim without providing the basis of denial
When must insurable interest be present in order for a life insurance policy to be valid? –
\u2026.ANSWER\u2026When the application is made
Which Long Term Care insurance statement is true? – \u2026.ANSWER\u2026Pre-existing
conditions must be covered after the coverage has been in force for six months
J let her life insurance policy lapse 8 months ago due to nonpayment. She can
reestablish coverage under which of the following provisions? –
\u2026.ANSWER\u2026Reinstatement provision
A life insurance policy that provides a policyowner with cash value along with a level
face amount is called – \u2026.ANSWER\u2026Whole life<\/p>\n\n\n\n
With a Basic Medical Expense policy, what does the hospitalization expense cover? –
\u2026.ANSWER\u2026hospital room and board
What is the purpose of a Policy Summary? – \u2026.ANSWER\u2026It highlights the critical parts
of the policy issued
T was treated for an ailment 2 months prior to applying for a health insurance policy.
This condition was noted on the application and the policy was issued shortly
afterwards.How will the insurer likely consider this condition? – \u2026.ANSWER\u2026Insurer will
likely treat as a pre-existing condition which may not be covered for one year
How are policyowner dividends treated in regards to income tax? –
\u2026.ANSWER\u2026Interest on accumulations is taxed
What does a Guaranteed Insurability rider provide a Disability Income policyowner? –
\u2026.ANSWER\u2026The ability of periodically increase the amount of coverage without
evidence of insurability
The Consolidate Omnibus Budget Reconciliation Act (COBRA) gives workers (and their
families) whose employement has been terminated the right to – \u2026.ANSWER\u2026continue
group health benefits
The amount of coverage on a group credit life policy limited to – \u2026.ANSWER\u2026the
insured’s total loan value
When an insurer issues a policy that refuses to cover certain risks, this is referred to as
an – \u2026.ANSWER\u2026exclusion
N is covered by a Term Life policy and does not make the required premium payment
which was due August 1. N dies September 15. What action will the insurer take? –
\u2026.ANSWER\u2026Claim will be denied
Which of the following is the reimbursement of benefits for the treatment of a
beneficiary’s injuries caused by a third party? – \u2026.ANSWER\u2026Subrogation
An individual Disability Income insurance applicant may be required to submit all of the
following information EXCEPT – \u2026.ANSWER\u2026spouse’s occupation
A foreign insurance company conducting insurance business in Texas –
\u2026.ANSWER\u2026was formed under the laws of another state
A retirement plan that sets aside part of the company’s net income for distributions to
qualified employees is called a – \u2026.ANSWER\u2026profit-sharing plan
What action will an insurer take if an interest payment on a policy loan is not made on
time? – \u2026.ANSWER\u2026automatically add the amount of interest due to the loan balance<\/p>\n\n\n\n
Which of the following actions is NOT possible with a Universal Life policy? –
\u2026.ANSWER\u2026Premiums may be applied as a credit aganist income tax
Life insurance that covers an insured’s whole life with level premiums paid over a limited
time called – \u2026.ANSWER\u2026Limited Pay Life
Which of the following is NOT included in a life insurance illustration? –
\u2026.ANSWER\u2026Company’s mortality table
If an individual has an Accidental Death and Dismemberment policy and dies, an
autopsy can be performed in all these situations, EXCEPT – \u2026.ANSWER\u2026When the
state prohibits this by law
Which of the following medical expenses does Cancer insurance NOT cover? –
\u2026.ANSWER\u2026Arthritis
Under a trustee group life policy, who would be eligible for a certificate of coverage? –
\u2026.ANSWER\u2026Employee
J is 35-years old and looking to purchase a whole life insurance policy. Which of the
following types of policies will provide the most rapid growth of cash value? –
\u2026.ANSWER\u202620-pay Life
V is insured under an individual Disability Income policy with a 30-day Elimination
period. On July 1, he is involved in an accident and temporarily disabled. He returns to
work on December 1. How many months of benefit are payable? – \u2026.ANSWER\u20264
months
A plan through the Marketplace may be purchased by – \u2026.ANSWER\u2026any legal resident
(except those imprisoned)
Which of the following actions require a policyowner to provide proof of insurability in an
Adjustable Life policy? – \u2026.ANSWER\u2026increase face amount
Which of the following does Social Security NOT provide benefits –
\u2026.ANSWER\u2026Dismemberment
According to the Time Limit of Certain defenses provision in an Individual Health
Insurance Policy, nonfraudulent misstatements first become incontestable –
\u2026.ANSWER\u2026two years from the date of the policy was issued
Q applied for life insurance and submitted the initial premium on January 1. The policy
was issued February 1, but it was not delivered by the agent until February 7. Q is
dissatisfied and returns the policy February 13. How will the insurer handle this<\/p>\n","protected":false},"excerpt":{"rendered":"
TEXAS STATE LIFE AND HEALTH INSURANCEEXAM SIMULATOR 2023-2024 ACTUAL EXAM 300QUESTIONS AND CORRECT DETAILED ANSWERSWITH RATIONALES|ALREADY GRADED A+||BRANDNEW!!The Universal Life Policy is called an unbundled Life Policy because the policyholdercan see the expense charges, the interest earned, and the – \u2026.ANSWER\u2026Cost ofinsuranceThe investment gains from a Universal Life Policy usually go toward – \u2026.ANSWER\u2026thecash valueWhat […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-117999","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/117999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=117999"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/117999\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=117999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=117999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=117999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}