TEXAS GENERAL LINES LIFE,

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TEXAS GENERAL LINES LIFE,

ACCIDENT AND HEALTH

INSURANCE PRACTICE EXAM

LATEST UPDATE

Question 1:

A life insurance policy that covers two parties, but only pays when the last party

dies is known as:

A- Joint Life B- Contingent Life C- Other insured Life D- Survivorship Life

Correct Answer:

D- Survivorship Life

Question 2:

Which of the following contracts requires that a series of benefit payments be made at specified intervals?A- 20-Pay Life B- Modified Whole Life C- Annuity D- Ordinary Whole Life

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Correct Answer:

C- Annuity

Question 3:

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:

A- Variable Life B- Universal Life C- Adjustable Life D- Variable/Universal Life

Correct Answer:

D- Variable/Universal Life

Question 4:

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:

A- Flexible premium Annuity B- Fixed Annuity C- Deferred Annuity D- Variable Annuity

Correct Answer:

D- Variable Annuity

Question 5:

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You have a client that is a real estate agent. Which of the following types of permanent protection is best for this type of client?A- Variable life B- Universal life C- Survivorship life D- Adjustable life

Correct Answer:

D- Adjustable life

Question 6:

In order to sell variable life insurance you must be registered with which of the following?A- The SEC B- The State C- The NYSE D- The NASD

Correct Answer:

D- The NASD

Question 7:

Which of the following is an example of a Limited-Pay Life policy:

A- Traditional Whole Life B- Endowment at 65 C- 10 year Renewable Term Life D- 20-Pay Life

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Correct Answer:

D- 20-Pay Life

Question 8:

An insurance producer selling a Variable Annuity whose cash value depends on

the performance of an underlying investment account must be registered with:

A- The SEC B- The State C- The NYSE D- The Financial Industry Regulatory Authority (FINRA, formerly the NASD)

Correct Answer:

D- The Financial Industry Regulatory Authority (FINRA, formerly the NASD)

Question 9:

A business owner with a fluctuating income who wants a life insurance policy

that can be changed to suit economic conditions should buy:

A- Variable Life B- Modified Whole Life C- Adjustable Life D- Interest-sensitive Whole Life

Correct Answer:

C- Adjustable Life

Question 10: