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Funeral TX Board Review Exam 2026 Actual Complete
Real Verified Exam Questions And Verified Answers |
100% Correct Answers | Graded A+ Guaranteed
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The people at the insurance company who determine the
risk and accept or reject the risk are called - Answer-
Underwriters
A ______ risk is one where the proposed insured exceeds
the basic standards so the company may offer more
coverage or a lesser premium for the coverage applied for
to the applicant. - Answer-Preferred
The amount the insurer needs to cover the risk it has
assumed is called the: Mortality charge, Reserve,
Standard risk, Liability account - Answer-Mortality Charge
When the applicant has more to gain by the insured's
continued life, the applicant has an ___ in the insured. -
Answer-Insurable Interest
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The policy owner cannot change the beneficiary to another
person or entity without the beneficiary's prior consent
when the beneficiary is listed as: The primary beneficiary,
The contingent beneficiary, The irrevocable beneficiary,
The default beneficiary - Answer-The irrevocable
beneficiary
___ is when the effective date of the policy is set at an
earlier date than when the application is completed in
order to save age. - Answer-Backdating
The payment method that allows the premium payer to
authorize the premium payer's bank to automatically pay
the insurance policy's premiums from the premium payer's
account without generating a paper check is: Direct bil,
Pre-Authorized Checking (PAC), Electronic Funds Transfer
(EFT), Money order - Answer-Pre-Authorized Checking
(PAC)
If premiums are not made to keep the insurance policy in
force, the policy is said to ____. - Answer-Lapse
An insurance contract is a ___ contract. - Answer-
Unilateral
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The provision that provides that the policy owner has a
certain period of time to examine the policy is the: Grace
period, Facility of payment, Insuring clause, Free look -
Answer-Free Look
The entire contract provision lists all of the documents that
make up the insurance policy. These documents include:
The insurance policy, The application for the insurance
policy, Riders attached to the policy, All of the above -
Answer-All of the above
The incontestability clause provides that after a certain
period of time, the insurance company cannot contest the
policy's validity for any reason. What is the period of time?:
90 days, 2 years, 45 days, 4 years - Answer-2 years
The rider that provides that the company will waive the
payment of premiums should the premium payer become
totally disabled and will continue the waiver of premium
during the time of the total disablement is called:Double
indemnity rider, Waiver of premium benefit rider,
Accidental death benefit rider, Guaranteed insurability
option rider - Answer-Waiver of premium benefit rider
Funeral TX Board Review Exam 2026 Actual Complete
Real Verified Exam Questions And Verified Answers |
100% Correct Answers | Graded A+ Guaranteed
Success!! Newest Exam!!!
The people at the insurance company who determine the
risk and accept or reject the risk are called - Answer-
Underwriters
A ______ risk is one where the proposed insured exceeds
the basic standards so the company may offer more
coverage or a lesser premium for the coverage applied for
to the applicant. - Answer-Preferred
The amount the insurer needs to cover the risk it has
assumed is called the: Mortality charge, Reserve,
Standard risk, Liability account - Answer-Mortality Charge
When the applicant has more to gain by the insured's
continued life, the applicant has an ___ in the insured. -
Answer-Insurable Interest
,2|Page
The policy owner cannot change the beneficiary to another
person or entity without the beneficiary's prior consent
when the beneficiary is listed as: The primary beneficiary,
The contingent beneficiary, The irrevocable beneficiary,
The default beneficiary - Answer-The irrevocable
beneficiary
___ is when the effective date of the policy is set at an
earlier date than when the application is completed in
order to save age. - Answer-Backdating
The payment method that allows the premium payer to
authorize the premium payer's bank to automatically pay
the insurance policy's premiums from the premium payer's
account without generating a paper check is: Direct bil,
Pre-Authorized Checking (PAC), Electronic Funds Transfer
(EFT), Money order - Answer-Pre-Authorized Checking
(PAC)
If premiums are not made to keep the insurance policy in
force, the policy is said to ____. - Answer-Lapse
An insurance contract is a ___ contract. - Answer-
Unilateral
, 3|Page
The provision that provides that the policy owner has a
certain period of time to examine the policy is the: Grace
period, Facility of payment, Insuring clause, Free look -
Answer-Free Look
The entire contract provision lists all of the documents that
make up the insurance policy. These documents include:
The insurance policy, The application for the insurance
policy, Riders attached to the policy, All of the above -
Answer-All of the above
The incontestability clause provides that after a certain
period of time, the insurance company cannot contest the
policy's validity for any reason. What is the period of time?:
90 days, 2 years, 45 days, 4 years - Answer-2 years
The rider that provides that the company will waive the
payment of premiums should the premium payer become
totally disabled and will continue the waiver of premium
during the time of the total disablement is called:Double
indemnity rider, Waiver of premium benefit rider,
Accidental death benefit rider, Guaranteed insurability
option rider - Answer-Waiver of premium benefit rider
