9) A 69-year old Medicare beneficiary, who has been hospitalized twice in the past
year, should consider buying which of the following to cover future excess medical
bills:
Give this one a try later!
A- Major Medical
B- Medicare Supplement
C- Medicaid
D- Long Term Care
25) A client applied for Life insurance on October 1st. The application was approved
and the policy was issued on October 10th. It was delivered to the customer on
October 18th. When did the Free Look start?
Give this one a try later!
, A- October 31st
B- October 18th
C- October 10th
D- October 1st
15) Which of the following statements about a typical Suicide clause in a Life insurance
policy is true?
Give this one a try later!
A- Suicide is excluded for a specific period of years and covered thereafter
B- Suicide is excluded as long as the policy is in force
C- Suicide is covered for a specific period of years and excluded thereafter
D- Suicide is covered as long as the policy is in force
17) If a medical expense insurer violates the minimum loss ratio requirement and has
administrative expenses that are too high, they must:
Give this one a try later!
A- Make refunds to customers and lower their administrative expenses
B- Re-underwrite their book of business
C- File for a rate increase as soon as possible
D- Make refunds to customers
34) An insured died during the Grace Period of her Life insurance policy and had not
paid the required annual premium. The insurance company is obligated to pay which
of the following to the beneficiary?
Give this one a try later!
, A- The face amount of the policy less any earned premiums
B- The full face amount of the policy
C- The cash value of the policy, if any
D- A refund of any premiums paid
12) To become a Texas insurance agent, you must:
Give this one a try later!
A- Pass an exam
B- Have resided in Texas for at least one year
C- Post a bond
D- File your personal financial statement with the Commissioner
3) John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The
cash value will equal the face amount of the policy when he reaches the age of:
A- 60
B- 70
C- 100
D- 30
Give this one a try later!
, C- 100
Explanation: Limited Pay Life insurance policies such as Life Paid Up at 65 or
20-Pay Life are simply variations of Whole Life policies. The cash value will
equal face amount of the policy (at least) at the maturity of the policy,
which is always age 100 on Whole Life policies. These limited-pay policies
are designed so that the insured may pay his or her premiums faster and be
"paid up" at a certain age. However, just because the premiums are paid up
doesn't mean the policy has matured.
12) Which of the following A&H policies would provide reimbursement for expenses
incurred as the result of a broken leg?
Give this one a try later!
A- Dental insurance policy
B- Accidental Death and Dismemberment policy
C- Disability Income policy
D- Medical Expense policy
15) Which of the following statements regarding temporary licenses is FALSE:
Give this one a try later!
A- They may be renewed
B- They may be issued without exam
C- They are valid up to 90 days
D- They require 40 hours of license training
32) What is the maximum time a Texas insurance agent's license may be issued for:
year, should consider buying which of the following to cover future excess medical
bills:
Give this one a try later!
A- Major Medical
B- Medicare Supplement
C- Medicaid
D- Long Term Care
25) A client applied for Life insurance on October 1st. The application was approved
and the policy was issued on October 10th. It was delivered to the customer on
October 18th. When did the Free Look start?
Give this one a try later!
, A- October 31st
B- October 18th
C- October 10th
D- October 1st
15) Which of the following statements about a typical Suicide clause in a Life insurance
policy is true?
Give this one a try later!
A- Suicide is excluded for a specific period of years and covered thereafter
B- Suicide is excluded as long as the policy is in force
C- Suicide is covered for a specific period of years and excluded thereafter
D- Suicide is covered as long as the policy is in force
17) If a medical expense insurer violates the minimum loss ratio requirement and has
administrative expenses that are too high, they must:
Give this one a try later!
A- Make refunds to customers and lower their administrative expenses
B- Re-underwrite their book of business
C- File for a rate increase as soon as possible
D- Make refunds to customers
34) An insured died during the Grace Period of her Life insurance policy and had not
paid the required annual premium. The insurance company is obligated to pay which
of the following to the beneficiary?
Give this one a try later!
, A- The face amount of the policy less any earned premiums
B- The full face amount of the policy
C- The cash value of the policy, if any
D- A refund of any premiums paid
12) To become a Texas insurance agent, you must:
Give this one a try later!
A- Pass an exam
B- Have resided in Texas for at least one year
C- Post a bond
D- File your personal financial statement with the Commissioner
3) John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The
cash value will equal the face amount of the policy when he reaches the age of:
A- 60
B- 70
C- 100
D- 30
Give this one a try later!
, C- 100
Explanation: Limited Pay Life insurance policies such as Life Paid Up at 65 or
20-Pay Life are simply variations of Whole Life policies. The cash value will
equal face amount of the policy (at least) at the maturity of the policy,
which is always age 100 on Whole Life policies. These limited-pay policies
are designed so that the insured may pay his or her premiums faster and be
"paid up" at a certain age. However, just because the premiums are paid up
doesn't mean the policy has matured.
12) Which of the following A&H policies would provide reimbursement for expenses
incurred as the result of a broken leg?
Give this one a try later!
A- Dental insurance policy
B- Accidental Death and Dismemberment policy
C- Disability Income policy
D- Medical Expense policy
15) Which of the following statements regarding temporary licenses is FALSE:
Give this one a try later!
A- They may be renewed
B- They may be issued without exam
C- They are valid up to 90 days
D- They require 40 hours of license training
32) What is the maximum time a Texas insurance agent's license may be issued for: