Texas Life Agent Exam Questions with accurate detailed solutions

Texas Life Agent Exam Questions with accurate detailed solutions
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Which of the following is NOT correct regarding Ordinary Whole Life policies?
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The cash value grows more quickly in the beginning years of the policy.
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A life insurance police that combines term insurance protection, a flexible premium, and
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cash value accumulation is:
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Universal Life ||




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Which of the following is an example of a Limited-Pay Life policy:
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20-Pay Life ||




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John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash
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value will equal the face amount of the policy when he reaches the age of:
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100
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Which of the following individual policy conversions is usually permitted without any
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evidence of insurability? || ||




Conversion from a term policy to a whole life whole life policy || || || || || || || || || || ||




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,Which of the following statements is true about the premium amount schedule for a Whole
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Life policy? ||




Premiums are payable throughout the insured's lifetime, and coverage continues until the
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insured's death ||




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You have a client that is a real estate agent. Which of the following types of permanent
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protection is best for this type of client?|| || || || || || ||




Adjustable life ||




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Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-
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year-amortized $50,000 business-improvement loan. Which of the following plans would
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adequately protect Ms. Timms at the minimum premium outlay?
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A $50,000 decreasing term policy for 20 years.
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Which of the following statements about a renewable term policy is true?
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It is renewable at the option of the insured
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A life insurance policy that covers two parties, but only pays when the last party dies is
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known as: ||




Survivorship Life ||




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, A business owner with a fluctuating income who wants a life insurance policy that can be
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changed to suit economic conditions should buy:
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Adjustable Life ||




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An annuity is designed to provide which of the of following financial features?
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I: the liquidation of principle and interest
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II: favorable tax treatment
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III: the creation of an estate
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I and II
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If a person wants to invest in a lump sum in an annuity that may appreciate along with
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market and economic conditions, they should buy a:
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Variable annuity ||




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Which of the following contracts require that a series of benefit payments be made at
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specified intervals? ||




Annuity
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In order to sell variable life insurance you must be registered with which of the following?
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