Texas State Exam Simulator - Life and Health Insurance
(200 Questions Practice Exam)
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An annuity promises that, if the annuitant dies before An installment Refund annuity
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
One becomes eligible for Social Security disability 5 months
benefits after having been disabled for
3 months
5 months
6 months
12 months
,A potential client, age 40, would like to purchase a Whole 20-Pay Life accumulates cash value faster than Straight Life
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
Who makes the legally enforceable promises in a Insurance company
unilateral insurance policy?
Beneficiary
Insurance company
Insured
Applicant
The Consideration clause in a life insurance policy the initial premium
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
Which parts of a life insurance policy are guaranteed to Warranty
be true?
Rating
Representation
Statement
Warranty
A comprehensive major medical health insurance policy experimental and investigative services
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
, If a retiree on Medicare required five hospital stays in Medicare Supplement
one year, which policy would provide the best
insurance for excess hospital expenses?
Long-term care
Indemnity
Medicare Supplement
Medicaid
S, while in the process of converting her group life Full benefits are payable under the Master contract
insurance to an individual policy, dies. What happens to
the claim her beneficiary submits?
No benefits are payable under the Master contract
Full benefits are payable under the Master contract
Full benefits are payable under the converted policy
Benefits less required premium are payable under the
converted policy
All of the following are limited benefit plans EXCEPT life insurance policies
cancer policies
life insurance policies
dental policies
critical illness policies
A physician opens up a new practice and qualifies for a Guaranteed Insurability Option rider
$7,000/month Disability Income policy. What rider would
the physician add if he wants the ability to increase
his policy benefit as his practice and income grow?
Extended Term rider
Cost of Living Adjustment rider
Guaranteed Insurability Option rider
Waiver of Premium rider
An agent whose license has been revoked is required to wait at least five years before applying for a new license
wait at least five years before applying for a new
license submit all previously written policies to the
Commissioner of Insurance's office for servicing of the
accounts
cancel all policies currently in effect and advise the
insureds to place them elsewhere
continue to service the existing accounts but not solicit
new business
The benefits under a Disability Buy-Out policy are payable to the company or another shareholder
normally paid in
installments taxable to the
beneficiary
payable to the company or another shareholder
normally paid after a short elimination period
(200 Questions Practice Exam)
Save
An annuity promises that, if the annuitant dies before An installment Refund annuity
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
One becomes eligible for Social Security disability 5 months
benefits after having been disabled for
3 months
5 months
6 months
12 months
,A potential client, age 40, would like to purchase a Whole 20-Pay Life accumulates cash value faster than Straight Life
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
Who makes the legally enforceable promises in a Insurance company
unilateral insurance policy?
Beneficiary
Insurance company
Insured
Applicant
The Consideration clause in a life insurance policy the initial premium
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
Which parts of a life insurance policy are guaranteed to Warranty
be true?
Rating
Representation
Statement
Warranty
A comprehensive major medical health insurance policy experimental and investigative services
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
, If a retiree on Medicare required five hospital stays in Medicare Supplement
one year, which policy would provide the best
insurance for excess hospital expenses?
Long-term care
Indemnity
Medicare Supplement
Medicaid
S, while in the process of converting her group life Full benefits are payable under the Master contract
insurance to an individual policy, dies. What happens to
the claim her beneficiary submits?
No benefits are payable under the Master contract
Full benefits are payable under the Master contract
Full benefits are payable under the converted policy
Benefits less required premium are payable under the
converted policy
All of the following are limited benefit plans EXCEPT life insurance policies
cancer policies
life insurance policies
dental policies
critical illness policies
A physician opens up a new practice and qualifies for a Guaranteed Insurability Option rider
$7,000/month Disability Income policy. What rider would
the physician add if he wants the ability to increase
his policy benefit as his practice and income grow?
Extended Term rider
Cost of Living Adjustment rider
Guaranteed Insurability Option rider
Waiver of Premium rider
An agent whose license has been revoked is required to wait at least five years before applying for a new license
wait at least five years before applying for a new
license submit all previously written policies to the
Commissioner of Insurance's office for servicing of the
accounts
cancel all policies currently in effect and advise the
insureds to place them elsewhere
continue to service the existing accounts but not solicit
new business
The benefits under a Disability Buy-Out policy are payable to the company or another shareholder
normally paid in
installments taxable to the
beneficiary
payable to the company or another shareholder
normally paid after a short elimination period
