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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+$20.49
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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INS
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TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INS
TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+TEXAS G...
11) If a client wants cash value life insurance with a flexible premium and an adjustable death
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benefit that will allow the policy owner a choice of various cash value investment options, he
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should buy: - A- Variable Life
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B- Universal Life
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C- Adjustable Life
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D- Variable/Universal Life
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12) If a person wants to invest a lump sum in an annuity that may appreciate along with market
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and economic conditions, they should buy a: - A- Flexible premium Annuity
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B- Fixed Annuity
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C- Deferred Annuity
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D- Variable Annuity
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13) You have a client that is a real estate agent. Which of the following types of permanent
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protection is best for this type of client? - A- Variable life
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B- Universal life
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C- Survivorship life
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D- Adjustable life
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14) In order to sell variable life insurance you must be registered with which of the following? -
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A- The SEC
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B- The State
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,C- The NYSE
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D- The NASD
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15) Which of the following is an example of a Limited-Pay Life policy: - A- Traditional Whole
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Life
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B- Endowment at 65
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C- 10 year Renewable Term Life
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D- 20-Pay Life
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16) An insurance producer selling a Variable Annuity whose cash value depends on the
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performance of an underlying investment account must be registered with: - A- The National
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Association of Insurance Commissioners
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B- The National Association of Life Underwriters
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C- The Chartered Life Underwriters
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D- The Financial Industry Regulatory Authority (FINRA, formerly the NASD)
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17) A business owner with a fluctuating income who wants a life insurance policy that can be
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changed to suit economic conditions should buy: - A- Variable Life
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B- Modified Whole Life
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C- Adjustable Life
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D- Interest-sensitive Whole Life
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18) An Annuity is designed to provide which of the following financial features?
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I. The liquidation of principal and interest
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II. Favorable tax treatment io io
III. The creation of an estate - A- I, II, and III
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B- I and II
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C- I and III
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D- II and III
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19) Which of the following statements about a Renewable Term policy is true? - A- It is
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renewable at the option of the insurance company
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B- It is renewable at the option of the insured
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C- It is renewable at the option of the insurance company, with proof of insurability
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D- It is renewable at the option of the insured, with proof of insurability
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20) Most Term Life insurance: - A- Is convertible to permanent Whole Life without a physical
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exam
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B- Has a guaranteed cash value
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C- Is renewable with evidence of insurability
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D- Is renewable to age 100
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21) A life insurance policy whose cash value will fluctuate depending upon the performance of a
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separate account is: - A- Limited-pay Life
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B- Universal Life
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C- Ordinary Life
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D- Variable Life
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, 22) A life insurance policy that combines term insurance protection, a flexible premium, and
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cash value accumulation is: - A- Increasing Term Life
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B- Variable/Universal Life
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C- Universal Life
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D- Variable Life
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23) Which of the following types of insurance policies would provide the greatest amount of
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protection for a temporary period during which an insured will have limited financial resources?
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- A- Term
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B- Limited Pay policy
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C- Whole Life
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D- Annuityio
24) At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer explains that
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he can pay for the policy in several ways. One method is called 20-Pay Life, and another,
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Straight Life. Tom wishes to know which plan will accumulate cash value at a faster rate in the
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early years of the policy. Which of the following would be the producer's most appropriate
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response? - A- "20-Pay Life will accumulate cash value faster."
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B- "The rate of cash-value accumulation depends on the profitability of the insurance company."
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C- "Straight Life will accumulate cash value faster."
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D- "Both plans will accumulate cash value at the same rate."
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io LIFE SECTION 2 - LIFE SECTION 2
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1) Which of the following statements about the Reinstatement provision is true? - A- It provides
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for reinstatement of a policy regardless of the insured's health
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B- It requires the policy owner to pay, with interest, all premiums that are in arrears in order for
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the policy to be reinstated
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C- It permits reinstatement within 10 years after a policy has lapsed
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D- It guarantees the reinstatement of a policy that has been surrendered for cash
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2) The time period covered by the Free Look provision of a Life insurance contract starts: - A-
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When the insured receives the contract and a "right to look" receipt
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B- When the contract is received in the agency office and given to the producer
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C- When the insured receives the contract and makes the first premium payment, if needed
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D- When the contract is issued and mailed to the agency office from the home office of the
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insurance company
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3) Dividend projections may be included in a proposal for Life insurance when which of the
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following is true? - A- There is a clear statement that payment of future dividends is not
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guaranteed
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B- The applicant has requested that they be included
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C- The projected amounts do not exceed the dividends previously paid by the same insurance
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company
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