Texas life - Study guides, Class notes & Summaries

What type of reinsurance contract involves two companies automatically sharing their risk exposure? - Answer Treaty The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called - Answer reserves When third-party ownership is involved, applicants who also happen to be the stated primary beneficiary are required to have - Answer insurable interest Statements made on an insurance application that are bel...

Texas General Lines - Life, Accident and Health Insurance Practice Exam Questions and Correct Answers 2024/2025 LIFE SECTION 1 - Correct Answer LIFE SECTION 1 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? A- $50,000 Whole Life policy B- $50,000 Level Term policy for 20 years C- $50,000 20 Pay Life ...

Texas Life Insurance Exam with 100% correct answers {2024/2025} P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - CORRECT ANSWER P receives the policy and pays the premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be carrer?...

FINAL EXAM REVIEW - Texas life and health (2024/2025) Rated A+ If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age

Texas Life Insurance exam with 100% correct answers 2024 GRADED A P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - CORRECT ANSWER P receives the policy and pays the premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be carrer...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - CORRECT ANS Upon completion of the application Who elects the governing body of a mutual insurance company? - CORRECT ANS policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - CORRECT ANS Fair Credit Reporting Act What type of reinsurance contract involves two companies automa...

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TEXAS LIFE HEALTH INSURANCE EXAM LATEST VERSION WITH 300 QUESTIONS AND CORRECT ANSWERS (LIFE AGENT LICENSE EXAM) REAL EXAM QUESTIONS (BRAND NEW!!)

PEARSON VUE TEXAS LIFE AND HEALTH INSURANCE TEST 150 QUESTIONS AND ANSWERS 2024 1. Who is obligated to make sure all questions are answered and all necessary signatures are collected on the application?: The Agent