TEXAS LIFE INSURANCE ACTUAL EXAM

TEXAS LIFE INSURANCE (ACTUAL / ) EXAM |

QUESTIONS AND VERIFIED CORRECT ANSWERS

We have an expert-written solution to this problem!Which statement regarding the Change of Beneficiary provision is true?The policyowner can change the beneficiary

Which of the following is NOT included in a life insurance illustration?Company's mortality table

The automatic premium loan provision is designed to avoid a policy lapse

A term life insurance policy matures:

upon the insured's death during the term of the policy

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Which of the following provisions guarantees that premiums will be waived if a Juvenile Life policyowner becomes disabled?Payor clause

All are true statements regarding the underwriting process,

EXCEPT:

AIDS and HIV virus exams can be conducted in a discriminatory fashion

All of the following are considered to be typical characteristics

describing the nature of an insurance contract, EXCEPT:

bilateral

Tom has a qualified retirement plan with his employer that is currently considered to be 80% "vested". How can this be interpreted?If Tom's employment is terminated, 20% of the funds would be forfeited

T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date of the 2 / 3

application or medical examination, whichever is later.Assuming that T is an acceptable risk, what item is given to T?Conditional receipt

S buys a $50,000 whole life policy with a $50,000 Accidental Death and Dismemberment rider. S dies 1 year later of natural causes. How much will the insurer pay the beneficiary?

$50,000

We have an expert-written solution to this problem!An applicant's medical information received from the Medical Information Bureau (MIB) may be furnished to the applicant's physician

T has an annuity that guarantees an income payment for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of the 20 years. What type of annuity is this?Life Annuity with Period Certain

The phrase "transacting business" includes

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