Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life on
INSURANCE LICENSE PRACTICE XCEL
SOLUTIONS FINAL EXAM #12 - TEXAS LIFE
1. Question 1
Which settlement option pays a stated amount to an annuitant, but no
residual value to a beneficiary?: Life income
2. Question 2
A new agent must complete at least _____ hours of continuing education
within 24 months of initial license?: 24 hours
3. Question 3
L takes out a life insurance policy and dies 10 years later. During the claim
process, the insurer discovers that L has understated range on the
application. Under the misstatement of age provision the insurer will?: Adjust
the death benefits to a reduced amount
4. Question 4
An example of false advertising would be?: And insurer exaggerating in
dividends in a magazine advertisement
5. Question 5
With whom an agent legally share commissions?: Another agent with the
same line of insurance
6. Question 6
Insurance agent as a fiduciary responsibility to all of the following
EXCEPT?: Other agents
7. Question 7
, .
Which of these is not an example of doing insurance business?: Selling
shares of stock
8. Question 8 taking receipt of premiums and holding them for the
insurance company is an example of?: Fiduciary responsibility
9. Question 9
How does an indexed annuity differ from a fixed annuity?: Indexed annuity
owners receive crediting interest time to the fluctuation of the linked index
10. Question 10 which of the following policies combines investment
choices with a form of Term coverage?: Variable universal life
11. Question 11
How long does an insurance company appointment remain in force?: Until
terminated
12. Question 12 in Texas an individual life insurance policy is REQUIRED to
have a grace period of?: 31 days
13 Question 13
Which statement is TRUE regarding a variable whole life policy?: A minimum
guaranteed death benefit is provided
14. Question 14 in an insurance contract the insurer is the only party who
makes a: Unilateral
15. Question 15 which of these is NOT considered to be an element of an
insurance contract?: Negotiating
16. Question 16
What does a 401(k) plan generally provide its participants?: Salary-
deferral contributions 17. Question 17
INSURANCE LICENSE PRACTICE XCEL
SOLUTIONS FINAL EXAM #12 - TEXAS LIFE
1. Question 1
Which settlement option pays a stated amount to an annuitant, but no
residual value to a beneficiary?: Life income
2. Question 2
A new agent must complete at least _____ hours of continuing education
within 24 months of initial license?: 24 hours
3. Question 3
L takes out a life insurance policy and dies 10 years later. During the claim
process, the insurer discovers that L has understated range on the
application. Under the misstatement of age provision the insurer will?: Adjust
the death benefits to a reduced amount
4. Question 4
An example of false advertising would be?: And insurer exaggerating in
dividends in a magazine advertisement
5. Question 5
With whom an agent legally share commissions?: Another agent with the
same line of insurance
6. Question 6
Insurance agent as a fiduciary responsibility to all of the following
EXCEPT?: Other agents
7. Question 7
, .
Which of these is not an example of doing insurance business?: Selling
shares of stock
8. Question 8 taking receipt of premiums and holding them for the
insurance company is an example of?: Fiduciary responsibility
9. Question 9
How does an indexed annuity differ from a fixed annuity?: Indexed annuity
owners receive crediting interest time to the fluctuation of the linked index
10. Question 10 which of the following policies combines investment
choices with a form of Term coverage?: Variable universal life
11. Question 11
How long does an insurance company appointment remain in force?: Until
terminated
12. Question 12 in Texas an individual life insurance policy is REQUIRED to
have a grace period of?: 31 days
13 Question 13
Which statement is TRUE regarding a variable whole life policy?: A minimum
guaranteed death benefit is provided
14. Question 14 in an insurance contract the insurer is the only party who
makes a: Unilateral
15. Question 15 which of these is NOT considered to be an element of an
insurance contract?: Negotiating
16. Question 16
What does a 401(k) plan generally provide its participants?: Salary-
deferral contributions 17. Question 17
