Life insurance exam texas - Study guides, Class notes & Summaries

Texas General Lines - Life, accident and health insurance PRACTICE EXAM Questions and Answers with complete solutions 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 policy D- $50,000 Decreas...

Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+). Which of the following actions is NOT possible with a Universal Life policy? - Correct Answer-Premiums may be applied as a credit against income tax Which of the following will a Long Term Care plan typically provide benefits for? - Correct Answer-home health care Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that...

Xcel solutions final exam Insuring Which health policy clause specifies the amount of benefits to be paid - Answer ️️ - Insuring The investment gains from a universal life policy usually go to - Answer ️️ -The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - Answer ️️ -Adjust the death benefit to a reduced amount An employee is covered unde...

Texas Life and Health Insurance Exam Q&As (Verified Solutions) 2023 (227 Questions)

Who is considered a field underwriter? - An agent When must insurable interest exist in life insurance? - Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - Policy delivery The Medical Information Bureau is?(MIB) - a source of medical information to alert insurers to adverse medical history A substandard risk compared to a standard risk would pay? - a higher premium Which document describes specifi...

Texas Life Insurance Exam TESTBANK [100% VERIFIED ANSWERS] Texas Life Insurance Exam TESTBANK [100% VERIFIED ANSWERS] 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...

FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS Which of the following individuals MUST be licensed as an agent? - CORRECT ANSWER-A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - CORRECT ANSWER-The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary...

Texas Life and Health Insurance Exam (question and answers) 2023/2024

Texas State Exam Simulator - Life and Health Insurance __ 200 Q&A (Practice Exam)

Texas General Lines - Life, accident and health insurance PRACTICE EXAM-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 policy D- $50,000 Decreasing Term policy for 20 years 2) A 45-year old customer who is s...