TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
1. LIFE SECTION 1 LIFE SECTION 1
2. 1) Sandra Timms, age 27, is advised by her A- $50,000 Whole Life pol-
producer to purchase Life insurance to cov- icy
er a 20-year-amortized $50,000 business-im- B- $50,000 Level Term pol-
provement loan. Which of the following plans icy for 20 years
would adequately protect Ms. Timms at the C- $50,000 20 Pay Life pol-
minimum premium outlay? icy
D- $50,000 Decreasing
Term policy for 20 years
3. 2) A 45-year old customer who is seeking to A- Deferred Annuity
supplement his retirement income at age 65 B- Equity Indexed Annuity
would not buy a: C- Variable Annuity
D- Immediate Annuity
4. 3) John Livingston owns a 30-Pay Life policy A- 60
that he purchased at the age of 30. The cash B- 70
value will equal the face amount of the policy C- 100
when he reaches the age of: D- 30
5. 4) Which of the following is an example of a A- Universal life
Limited-Pay Life policy? B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age
70
6. 5) Which of the following policies provides A- Annuity
the greatest amount of protection for an in- B- Whole Life
sured's premium dollar as well as some cash C- Term
accumulation? D- Limited-Pay Life
7. 6) Which of the following individual policy A- Conversion to a low-
conversions is usually permitted without any er-premium plan
evidence of insurability? B- Conversion from a
Whole Life policy to a Term
policy
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
C- Conversion from a Term
policy to a Whole Life poli-
cy
D- Conversion to a larger
amount of insurance
8. 7) Which of the following is NOT correct re- A- The premiums pay-
garding Ordinary Whole Life policies? ments are owed annually
until you die or reach age
100
B- The cash value grows
more quickly in the begin-
ning years of the policy
C- Coverage lasts for your
own life
D- Ordinary Whole Life is
a type of permanent insur-
ance
9. 8) Which of the following statements is true A- Premiums are payable
about the premium payment schedule for a for a designated period of
Whole Life policy? time only, after which cov-
erage is no longer provided
B- Premiums are payable
until the insured's retire-
ment only, after which cov-
erage is continued auto-
matically until the insured's
death
C- One premium, in the
amount of the insured's
choice, is payable at the
time of application, and the
balance of the premiums
is deducted from the face
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
amount of the policy at the
time of the insured's death
D- Premiums are payable
throughout the insured's
lifetime, and coverage con-
tinues until the insured's
death
10. 9) A life insurance policy that covers two par- A- Joint Life
ties, but only pays when the last party dies is B- Contingent Life
known as: C- Other insured Life
D- Survivorship Life
11. 10) Which of the following contracts requires A- 20-Pay Life
that a series of benefit payments be made at B- Modified Whole Life
specified intervals? C- Annuity
D- Ordinary Whole Life
12. 11) If a client wants cash value life insurance A- Variable Life
with a flexible premium and an adjustable B- Universal Life
death benefit that will allow the policy owner C- Adjustable Life
a choice of various cash value investment D- Variable/Universal Life
options, he should buy:
13. 12) If a person wants to invest a lump sum A- Flexible premium Annu-
in an annuity that may appreciate along ity
with market and economic conditions, they B- Fixed Annuity
should buy a: C- Deferred Annuity
D- Variable Annuity
14. 13) You have a client that is a real estate A- Variable life
agent. Which of the following types of perma- B- Universal life
nent protection is best for this type of client? C- Survivorship life
D- Adjustable life
15.
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
14) In order to sell variable life insurance you A- The SEC
must be registered with which of the follow- B- The State
ing? C- The NYSE
D- The NASD
16. 15) Which of the following is an example of a A- Traditional Whole Life
Limited-Pay Life policy: B- Endowment at 65
C- 10 year Renewable
Term Life
D- 20-Pay Life
17. 16) An insurance producer selling a Variable A- The National Associa-
Annuity whose cash value depends on the tion of Insurance Commis-
performance of an underlying investment ac- sioners
count must be registered with: B- The National Associa-
tion of Life Underwriters
C- The Chartered Life Un-
derwriters
D- The Financial Industry
Regulatory Authority (FIN-
RA, formerly the NASD)
18. 17) A business owner with a fluctuating in- A- Variable Life
come who wants a life insurance policy that B- Modified Whole Life
can be changed to suit economic conditions C- Adjustable Life
should buy: D- Interest-sensitive Whole
Life
19. 18) An Annuity is designed to provide which A- I, II, and III
of the following financial features? B- I and II
C- I and III
I. The liquidation of principal and interest D- II and III
II. Favorable tax treatment
III. The creation of an estate
20. 19) Which of the following statements about A- It is renewable at the op-
a Renewable Term policy is true? tion of the insurance com-
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
1. LIFE SECTION 1 LIFE SECTION 1
2. 1) Sandra Timms, age 27, is advised by her A- $50,000 Whole Life pol-
producer to purchase Life insurance to cov- icy
er a 20-year-amortized $50,000 business-im- B- $50,000 Level Term pol-
provement loan. Which of the following plans icy for 20 years
would adequately protect Ms. Timms at the C- $50,000 20 Pay Life pol-
minimum premium outlay? icy
D- $50,000 Decreasing
Term policy for 20 years
3. 2) A 45-year old customer who is seeking to A- Deferred Annuity
supplement his retirement income at age 65 B- Equity Indexed Annuity
would not buy a: C- Variable Annuity
D- Immediate Annuity
4. 3) John Livingston owns a 30-Pay Life policy A- 60
that he purchased at the age of 30. The cash B- 70
value will equal the face amount of the policy C- 100
when he reaches the age of: D- 30
5. 4) Which of the following is an example of a A- Universal life
Limited-Pay Life policy? B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age
70
6. 5) Which of the following policies provides A- Annuity
the greatest amount of protection for an in- B- Whole Life
sured's premium dollar as well as some cash C- Term
accumulation? D- Limited-Pay Life
7. 6) Which of the following individual policy A- Conversion to a low-
conversions is usually permitted without any er-premium plan
evidence of insurability? B- Conversion from a
Whole Life policy to a Term
policy
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
C- Conversion from a Term
policy to a Whole Life poli-
cy
D- Conversion to a larger
amount of insurance
8. 7) Which of the following is NOT correct re- A- The premiums pay-
garding Ordinary Whole Life policies? ments are owed annually
until you die or reach age
100
B- The cash value grows
more quickly in the begin-
ning years of the policy
C- Coverage lasts for your
own life
D- Ordinary Whole Life is
a type of permanent insur-
ance
9. 8) Which of the following statements is true A- Premiums are payable
about the premium payment schedule for a for a designated period of
Whole Life policy? time only, after which cov-
erage is no longer provided
B- Premiums are payable
until the insured's retire-
ment only, after which cov-
erage is continued auto-
matically until the insured's
death
C- One premium, in the
amount of the insured's
choice, is payable at the
time of application, and the
balance of the premiums
is deducted from the face
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
amount of the policy at the
time of the insured's death
D- Premiums are payable
throughout the insured's
lifetime, and coverage con-
tinues until the insured's
death
10. 9) A life insurance policy that covers two par- A- Joint Life
ties, but only pays when the last party dies is B- Contingent Life
known as: C- Other insured Life
D- Survivorship Life
11. 10) Which of the following contracts requires A- 20-Pay Life
that a series of benefit payments be made at B- Modified Whole Life
specified intervals? C- Annuity
D- Ordinary Whole Life
12. 11) If a client wants cash value life insurance A- Variable Life
with a flexible premium and an adjustable B- Universal Life
death benefit that will allow the policy owner C- Adjustable Life
a choice of various cash value investment D- Variable/Universal Life
options, he should buy:
13. 12) If a person wants to invest a lump sum A- Flexible premium Annu-
in an annuity that may appreciate along ity
with market and economic conditions, they B- Fixed Annuity
should buy a: C- Deferred Annuity
D- Variable Annuity
14. 13) You have a client that is a real estate A- Variable life
agent. Which of the following types of perma- B- Universal life
nent protection is best for this type of client? C- Survivorship life
D- Adjustable life
15.
, TEXAS GENERAL LINES LIFE, ACCIDENT AND HEALTH INSURANCE
EXAM 2024 NEWEST NEWEST ACTUAL EXAM COMPLETE 350 QUES-
TIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |A
READY GRADED A+
Study online at https://quizlet.com/_g77u0q
14) In order to sell variable life insurance you A- The SEC
must be registered with which of the follow- B- The State
ing? C- The NYSE
D- The NASD
16. 15) Which of the following is an example of a A- Traditional Whole Life
Limited-Pay Life policy: B- Endowment at 65
C- 10 year Renewable
Term Life
D- 20-Pay Life
17. 16) An insurance producer selling a Variable A- The National Associa-
Annuity whose cash value depends on the tion of Insurance Commis-
performance of an underlying investment ac- sioners
count must be registered with: B- The National Associa-
tion of Life Underwriters
C- The Chartered Life Un-
derwriters
D- The Financial Industry
Regulatory Authority (FIN-
RA, formerly the NASD)
18. 17) A business owner with a fluctuating in- A- Variable Life
come who wants a life insurance policy that B- Modified Whole Life
can be changed to suit economic conditions C- Adjustable Life
should buy: D- Interest-sensitive Whole
Life
19. 18) An Annuity is designed to provide which A- I, II, and III
of the following financial features? B- I and II
C- I and III
I. The liquidation of principal and interest D- II and III
II. Favorable tax treatment
III. The creation of an estate
20. 19) Which of the following statements about A- It is renewable at the op-
a Renewable Term policy is true? tion of the insurance com-
