TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE PRACTICE EXAM 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 
 
2 Page 
 
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: 
3 Page 
 
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