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Pearson vue Texas life and health insurance test questions $8.00   Add to cart

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Pearson vue Texas life and health insurance test questions

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Pearson vue Texas life and health insurance test questions

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  • October 20, 2024
  • 138
  • 2024/2025
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150 Multiple choice questions

Term 1 of 150
Which of the following is NOT required on an illustration used in the sale of a life insurance
policy?

Underwriting or rating classification upon which the illustration is based


The name of the primary and secondary beneficiaries

Generic name of policy

Name of insurer

Term 2 of 150
Annually renewable term policies provide a level death benefit for a premium that

Decreases annually

Remains Level

Fluctuates

Increases annually

Term 3 of 150
An insured's long-tern care policy is scheduled to pay fixed amount of coverage of $120 per
day. The long-term care facility only charged $100 per day. How much will the insurance
company pay?

20% of the total cost

$120 a day


$100 a day

80% of the total cost

,Term 4 of 150
Which of the following best defines the "owner" as it pertains to life settlement contracts?

A financial entity that sponsors the transaction


A fiduciary for the contract

The insurance provider


The policyowner of the life insurance policy

Term 5 of 150
Which provision allows the policyholder a period of time, while coverage is in force, to
examine a health insurance policy and determine whether or not to keep it?

Elimination period

Probationary period


Free Look period

Grace period

Term 6 of 150
An applicant who receives a preferred risk classification qualifies for

Higher premiums than a person who receives a sub-standard risk


Higher premiums than a person who receives a standard risk

Lower premiums than a person who receives a standard risk

Dividends payable for lack of claims

Term 7 of 150
Which of the following is true regarding elimination periods and the cost of coverage?

The longer the elimination period, the higher the cost of coverage

Elimination periods have no effect on the cost of coverage

The longer the elimination period, the lower the cost of coverage

The shorter the elimination period, the lower the cost of coverage

,Term 8 of 150
Which of the following best describes the "first-dollar coverage" principle in basic medical
insurance?

The insured must first pay a deductible


The insurer covers the first claim on the policy

Deductibles and coinsurance are taxed first

The insured is not required to pay a deductible

Term 9 of 150
Which of the following is considered a presumptive disability under a disability income policy

Loss of two limbs

Loss of an eye

Loss of hearing in one ear


Loss of one hand or foot

Term 10 of 150
All of the following are true regarding a decreasing term policy EXCEPT

The death benefits $0 at the end of the policy term


The contract pays only in the event of death during the term and there is no cash value

The face amount steadily declines throughout the duration of the contract

The payable premium amount steadily declines throughout the duration of the contract

Term 11 of 150
*What is the purpose of settlement options?

They are guarantees built into the policy

They guarantee a return of excess premiums

they provide the beneficiary the income he/she cannot outlive

Determines how the death benefit will be paid to the beneficiary

, Term 12 of 150
All of the following are examples of third-party ownership of a life insurance policy EXCEPT

When insured purchased a new home, the insured made an absolute assignment of a life
insurance policy to the mortgage company

An insured borrows money from the bank and makes a collateral assignment of a part of
the death benefit to secure the loan

An insured couple purchases a life insurance policy insuring the life of their grandson

A company purchases a life insurance policy on their manager, who is important part of
the operation

Term 13 of 150
The premium charged for exercising the guaranteed insurability Rider is based upon the
insured's

Average age

Issue age

Attained age

Assumed age

Term 14 of 150
The insurers are allowed to disclose the HIV-related test result to all of the following EXCEPT

Another insurer

The insured's doctor

A reinsurer involved in the underwriting process

The Texas Department of Health

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