TX Life Agent Pearson VUE Exam
Questions & Answers (Grade A+)
The agent and the policyowner -
correct answer ✅Who must sign the application
Representations -
correct answer ✅Statements believed to be true to the best of
one's knowledge are
When the policy is delivered and the first premium is paid -
correct answer ✅If an agent accepts a completed application
without the first premium, when does coverage become effective
Replacement -
correct answer ✅A practice of terminating an existing policy or
letting it lapse, and obtaining a new one.
Aleatory -
correct answer ✅The term that refers to the unequal exchange of
values given between the two parties in a contract is
Legal Purpose -
correct answer ✅Which element of contract law requires that
,TX Life Agent Pearson VUE Exam
Questions & Answers (Grade A+)
contracts must not go against public policy must have insurable
interest and must have the consent of the proposed insured
Fair Credit Reporting Act -
correct answer ✅A name of the federal law governing the
collection dissemination and use of consumer information is the
An independent investigating firm -
correct answer ✅The MIB is all of the following EXCEPT
Annually -
correct answer ✅Which of the following is the least expensice
method of paying life insurance
Money Laundering -
correct answer ✅The Process of taking financial proceeds from
illegal activites and placing them into financial systems to disguise
their origins is known as
Substandard -
correct answer ✅What is the risk classification for those who are
insurable, but have a higher than average risk?
, TX Life Agent Pearson VUE Exam
Questions & Answers (Grade A+)
Consideration -
correct answer ✅In the formation of a legal contract each party
must give something of value. under contract law, this is referred to
as.
unilateral -
correct answer ✅A legal contract in which only one party makes a
legally binding promise is
When the agent helps the applicant complete the application -
correct answer ✅When must insurable interest exist
Initialed by the applicant -
correct answer ✅Changes to a written life insurance application
must be
Term Life -
correct answer ✅What type of policy is considred temporary
protection
Questions & Answers (Grade A+)
The agent and the policyowner -
correct answer ✅Who must sign the application
Representations -
correct answer ✅Statements believed to be true to the best of
one's knowledge are
When the policy is delivered and the first premium is paid -
correct answer ✅If an agent accepts a completed application
without the first premium, when does coverage become effective
Replacement -
correct answer ✅A practice of terminating an existing policy or
letting it lapse, and obtaining a new one.
Aleatory -
correct answer ✅The term that refers to the unequal exchange of
values given between the two parties in a contract is
Legal Purpose -
correct answer ✅Which element of contract law requires that
,TX Life Agent Pearson VUE Exam
Questions & Answers (Grade A+)
contracts must not go against public policy must have insurable
interest and must have the consent of the proposed insured
Fair Credit Reporting Act -
correct answer ✅A name of the federal law governing the
collection dissemination and use of consumer information is the
An independent investigating firm -
correct answer ✅The MIB is all of the following EXCEPT
Annually -
correct answer ✅Which of the following is the least expensice
method of paying life insurance
Money Laundering -
correct answer ✅The Process of taking financial proceeds from
illegal activites and placing them into financial systems to disguise
their origins is known as
Substandard -
correct answer ✅What is the risk classification for those who are
insurable, but have a higher than average risk?
, TX Life Agent Pearson VUE Exam
Questions & Answers (Grade A+)
Consideration -
correct answer ✅In the formation of a legal contract each party
must give something of value. under contract law, this is referred to
as.
unilateral -
correct answer ✅A legal contract in which only one party makes a
legally binding promise is
When the agent helps the applicant complete the application -
correct answer ✅When must insurable interest exist
Initialed by the applicant -
correct answer ✅Changes to a written life insurance application
must be
Term Life -
correct answer ✅What type of policy is considred temporary
protection
