TEXAS State Insurance License Exam Questions and Answers Graded A+

TEXAS State Insurance License Exam Questions and Answers Graded A+ An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the following insurance principles has the insurer violated? ✔✔Consideration Which of the following statements regarding HIV testing for insurance purposes is NOT true? ✔✔Insurers are barred from requesting HIV testing. All of the following are dividend options EXCEPT ✔✔Fixed period installments Which of the following documents delivered to the policyowner includes information about premium amounts, cash values, surrender values and death benefits for specific policy years? ✔✔A Policy Summary A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? ✔✔The amount of the distribution is reduced by the amount of a 20% withholding tax. Which of the following best describes annually renewable term insurance? ✔✔It's Level Term Insurance Which of the following policies would be classified as a traditional level premium contract? ✔✔Straight Life Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early? ✔✔Paid Up Option A couple owns a life insurance policy with a Children's Term rider. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. Which of the following will she need to provide for proof of insurability? ✔✔Proof Of Insurability is not required When a whole life policy lapses or is surrendered prior to maturity, the cash value can be used to ✔✔Purchase a single premium policy for a reduced face amount. All of the following are examples of third-party ownership of a life insurance policy EXCEPT ✔✔An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan. Which two terms are associated directly with the way an annuity is funded? ✔✔Single Payment or Periodic Payments A business owner was trying to obtain a bank loan to fund the purchase of a new business facility, but the bank required proof of additional assets to secure the loan. The business owner then decided to use her $250,000 life insurance policy to secure the loan. Which provision makes this possible? ✔✔Collateral Assignment Which of the following insurance arrangements will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner? ✔✔Third Party Ownership What is the other term for the cash payment settlement option? ✔✔Lump Sum All of the following are Nonforfeiture options EXCEPT ✔✔Intrest only Traditional IRA contributions are ✔✔Tax deductible Which of the following is NOT the consideration in a policy? ✔✔The application given to a prospective insured Which of the following terms means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? ✔✔Life expectancy The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the ✔✔Entire Contract Which is TRUE about the cash surrender nonforfeiture option? ✔✔Funds exceeding the premium paid are taxable as ordinary income.

read more

Latest Reviews

This Document does not have reviews, purchase to review


  1. 100% Money Back Guarantee
  2. Immediately available after payment
  3. Both online and in PDF format
  4. Secure Payment Gateway

  • Pages 8
  • Category Exam Elaboration
  • School / University other / unknown
  • Course Law..
  • Course Level University level
  • Year 2024
  • Keywords TEXAS State Insurance License Exam Questions and Answers Graded A+
Perfect Scores
200 Documents uploaded.
0 Documents sold.
  •  0 Review(s)

The benefits of buying summaries with Barmerit:


Guaranteed quality through customer reviews

Barmerit customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.


Quick and easy check-out

You can quickly pay through credit card or Barmerit-credit for the summaries. There is no membership needed.


Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently Asked Questions

After you’ve finished your payment, your purchased document will be available in ‘Purchased document’ in your Docmerit account. The documents will also be sent via e-mail. Can’t find your document there right away? Be patient, because sometimes it can take a couple minutes for the document to be processed. If the document isn’t there after five minutes, you can send us a message.
Send us a message to support@barmerit.com and try to explain as detailed as possible what the issue is. Hopefully, we can help you out right away and you’ll have the document in no time. If you see an error, please attach a screenshot of the error to the email, so if needed our IT department can have a look at it.
If you would like to see the entire document, you first have to buy it. Otherwise, you will only see a couple of selected preview pages.   unanswered

Price $10.00