TX LIFE AGENT PEARSON VUE EXAM QUESTIONS

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TX LIFE AGENT PEARSON VUE EXAM QUESTIONS

Qs and Ans - Expert- Explanation - ing score -94 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Foreign Insurer

Answer:

ABC insurance company is incorpo in Georgia but is doing business in massachusetts it is an

Question 2: 30 Days

Answer:

Any person who suspects that a fraudulent insurance act has been committed must fill out a written report to the insurance fraud unit within

Question 3: Appointed by the Governor

Answer:

How is the insurance commissioner selected

Question 4: It does not protect against inflation

Answer:

All of the following are true about a fixed annuity EXCEPT Question 5: Make a collateral assignment of cash value in the policy to the insurance company

Answer:

Which of the following is NOT a requirement for the reinstatement of a life insurance policy

Question 6: A modified endownment contract (MEC)

Answer:

If a life policy does not pass the "7 pay test) that policy is considered

Question 7: The Separate account

Answer:

In a variable life policy, where are premuims deposited after expenses are deducted

Question 8: 24 hours every 2 years

Answer:

what is the continuing education requirement for life insurance producers

Question 9: Accumulation Period

Answer:

The period during which money is paid into an ammuity and interest is earned is called

Question 10: Have an associate degree

Answer:

Which of the following in NOT a licensing requirement for a life producer license

Question 11: Appointed by the insurer

Answer:

To act as an agent for an authorized insurer the applicant must be

Question 12: Annually

Answer:

Which of the following is the least expensice method of paying life insurance

Question 13: Policyowner

Answer:

The intent of the replacement regulations is to protect the original

Question 14: The coverage is usually level term insurance

Answer:

Which of the following is true about the spouse term rider?

Question 15: The doctor is the owner of the policy

Answer:

Which statement concerning credit life is INCORRECT

Question 16: The agent and the policyowner

Answer:

Who must sign the application

Question 17: Buy-Sell Agreement

Answer:

An agreement between co owners of a business allowing the surviving partners to purchase a deceased partner's share of the business is known as a

Question 18: The insurance portion is whole life insurance

Answer:

Which of the following is NOT correct about universal life

Question 19: Legal Purpose

Answer:

Which element of contract law requires that contracts must not go against public policy must have insurable interest and must have the consent of the proposed insured

Question 20: Convertible Term policy

Answer:

The type of policy that can be changed from one that does not accumulate cash value to the one that does, is a...

Question 21: On a monthty basis

Answer:

An individual licensed as an agent must motfy the TExas department if Insurance of a change or address or administrative actions in another state

Question 22: Variable Universal Life

Answer:

Selling which of the following policies would require a license issued by FINRA?

Question 23: 2 Hours

Answer:

Producers must complete how many hours of ethics during each continuing education period

Question 24: Aleatory

Answer:

The term that refers to the unequal exchange of values given between the two parties in a contract is

Question 25: Life or health insurance to its members

Answer:

a fraternal benefit society usually provides

Question 26: Annuity

Answer:

A contact that can provide income for life and protect against outliving your money is an

Question 27: Fair Credit Reporting Act

Answer:

A name of the federal law governing the collection dissemination and use of consumer information is the Question 28: There will be no change in her policy's rates benefits or options other than she no longer has pay the premiums on the policy

Answer:

If an insured with a whole life policy and a waiver of premium rider suffers a disability that causes her insurance company to waive her premium payments which of the following statements would be correct

Question 29: The cash value becomes too small to pay the cost of insurance

Answer:

A univeral life policy will exire if