Texas Life and Health Insurance Exam Questions and Answers (Verified Solutions)
Question : An annuity promises that, if the annuitant dies
before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity
CORRECT ANSWER : An installment Refund annuity
Question : One becomes eligible for Social Security disability
benefits after having been disabled for
- months
- months
- months
12 months
CORRECT ANSWER : 5 months
Question : 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 correct?Straight life accumulates faster than Limited-pay Life 20-Pay Life accumulates cash value faster than Straight Life Cash value accumulation of both 20-Pay Life and Straight Life depend on the insurer's financial rating 20-Pay Life and Straight Life accumulate cash value at the same rate
CORRECT ANSWER : 20-Pay Life accumulates cash value
faster than Straight Life
Question : Who makes the legally enforceable promises in a
unilateral insurance policy?Beneficiary Insurance company Insured
Applicant
CORRECT ANSWER : Insurance company
Question : The Consideration clause in a life insurance policy
indicates that a policyowner's consideration consists of a completed application and the initial premium agreeing to a physical examination delivery of policy disclosure of any medical conditions
CORRECT ANSWER : the initial premium
Question : Which parts of a life insurance policy are
guaranteed to be true?Rating Representation Statement Warranty
CORRECT ANSWER : Warranty
Question : A comprehensive major medical health insurance
policy contains an Eligible Expenses provision which identifies the types of health care services that are covered.All of the following health care services are typically covered EXCEPT for hospital charges physician fees experimental and investigative services nursing services
CORRECT ANSWER : experimental and investigative
services
Question : If a retiree on Medicare required five hospital stays
in one year, which policy would provide the best insurance for excess hospital expenses?Long-term care Indemnity Medicare Supplement Medicaid