CERTIFICATION EXAM TX LIFE AND HEALTH PRE

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CERTIFICATION EXAM TX LIFE AND HEALTH PRE

LICENSING

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Extended Term

Answer:

Which of these provisions is NOT required in life insurance policies?

Question 2: Whole life and increasing term

Answer:

A Return of Premium Life insurance policy is

Question 3: authority

Answer:

A certificate of ______permits an insurance company to transact business in Texas.

Question 4: Universal Life Insurance

Answer:

What type of life insurance incorporates flexible premiums and an adjustable death benefit?

Question 5: Basic hospital

Answer:

B's policy provides coverage on an in-hospital basis only and contains a limited daily room and board benefit. Which of these policies does B have?

Question 6: Company's mortality table

Answer:

Which of the following is NOT included in a life insurance illustration?

Question 7: Other agents

Answer:

An insurance agent has a fiduciary responsibility to al of the following EXCEPT

Question 8: Adhesion

Answer:

A contract where one party either accepts or rejects the terms of a contract written by another party is called a contract of

Question 9: USA Patriot Act

Answer:

Life insurance companies are required to establish and maintain an anti money laundering compliance program according to which federal regulation?

Question 10: Unfair methods of competition

Answer:

ABC Insurance Company is actively engaging in boycott, coercion, and intimidation that results in the unreasonable restraint of trade. ABC is committing a prohibited act under Texas insurance laws covering

Question 11: 50%

Answer:

___of continuing education MUST be completed in the classroom or classroom equivalent Question 12: An insurer may not use suicide as a defense against payment after the second year

Answer:

In Texas, which of these statements regarding SUICIDE clause is TRUE?

Question 13: Collecting premiums

Answer:

The phrase "transacting business" includes

Question 14: 12 months

Answer:

What is the MINIMUM benefit period that must be offered by a Long-Term Care policy?

Question 15: Partial withdrawal features beyond a surrender charge period

Answer:

While life insurance policies are contractually guaranteed to provide each of the following EXCEPT:

Question 16: Medical Information Bureau (MIB)

Answer:

The entity whose sole purpose is sharing medical data among its member companies called the

Question 17: To obtain a premium rate based on an earlier age

Answer:

The reason for backdating a policy is

Question 18: Continue coverage but exclude the heart condition

Answer:

A prospective insurer completes and signs an application for health insurance but intentionally conceals information about a pre-existing heart condition. The company issues the policy. Two months later, the insured suffers a heart attack and submits a claim. While processing the claim, the company discovers

the pre-existing condition. In this situation, the company will:

Question 19: None

Answer:

When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld?

Question 20: Upon the insured's death during the term of the policy

Answer:

A term life insurance policy matures:

Question 21: one year

Answer:

Generally how long is a benefit period for a Major Medical Expense Plan?

Question 22: any legal resident (except those imprisoned)

Answer:

A plan through the Marketplace may be purchased by

Question 23: Initial Deductible

Answer:

The first portion of a covered Major Medical insurance expense that the insured is required to pay is

called the:

Question 24: Insured

Answer:

In a Key Employee life insurance policy, the third party owner can be all of the following except

Question 25: Are lower during the policy's early years

Answer:

Under a Graded Premium policy, the premiums

Question 26: Tax deductible to the employer

Answer:

The premiums paid by an employer for his employees group life insurance are usually considered to be:

Question 27: Variable

Answer:

A life insurance policy owner would like to take out a policy loan against the cash value in his Whole Life Policy. The interest rate applied this loan may vary over time. This is referred to as a(n) rate loan.

Question 28: Irrevocable Beneficiary

Answer:

Which type of life insurance beneficiary requires his/her consent when a change of beneficiary is attempted by the policy owner?