Texas life and health - Study guides, Class notes & Summaries

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

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

Texas Life and Health Insurance Exam Latest Questions & Answers with Rationale 2023/2024 All of these statements about Equity Indexed Life Insurance are correct EXCEPT Cash value has a minimum rate of accumulation If the gain on the index goes beyond the policy's minimum rate of return, the cash value will mirror that of the index The premiums can be lowered or raised, based on investment performance Tied to an equity index such as the S&P 500 The premiums can be lowered or raised, base...

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...

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

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...