Texas Funeral Prearrangement Test with
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answers
The people at the insurance company who determine the risk
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and accept or reject the risk are called - CORRECT ANSWERS
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✔✔Underwriters
A ______ risk is one where the proposed insured exceeds the
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basic standards so the company may offer more coverage or a
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lesser premium for the coverage applied for to the applicant. -
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CORRECT ANSWERS ✔✔Preferred |\ |\
The amount the insurer needs to cover the risk it has assumed is
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called the: Mortality charge, Reserve, Standard risk, Liability
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account - CORRECT ANSWERS ✔✔Mortality Charge
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When the applicant has more to gain by the insured's continued
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life, the applicant has an ___ in the insured. - CORRECT ANSWERS
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✔✔Insurable Interest
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The policy owner cannot change the beneficiary to another
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person or entity without the beneficiary's prior consent when the
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beneficiary is listed as: The primary beneficiary, The contingent
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beneficiary, The irrevocable beneficiary, The default beneficiary -
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CORRECT ANSWERS ✔✔The irrevocable beneficiary
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, ___ is when the effective date of the policy is set at an earlier
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date than when the application is completed in order to save
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age. - CORRECT ANSWERS ✔✔Backdating
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The payment method that allows the premium payer to authorize
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the premium payer's bank to automatically pay the insurance
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policy's premiums from the premium payer's account without
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generating a paper check is: Direct bil, Pre-Authorized Checking |\ |\ |\ |\ |\ |\ |\ |\ |\
(PAC), Electronic Funds Transfer (EFT), Money order - CORRECT
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ANSWERS ✔✔Pre-Authorized Checking (PAC) |\ |\ |\
If premiums are not made to keep the insurance policy in force,
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the policy is said to ____. - CORRECT ANSWERS ✔✔Lapse
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An insurance contract is a ___ contract. - CORRECT ANSWERS
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✔✔Unilateral
The provision that provides that the policy owner has a certain
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period of time to examine the policy is the: Grace period, Facility
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of payment, Insuring clause, Free look - CORRECT ANSWERS
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✔✔Free Look |\
The entire contract provision lists all of the documents that make
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up the insurance policy. These documents include: The insurance
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policy, The application for the insurance policy, Riders attached
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to the policy, All of the above - CORRECT ANSWERS ✔✔All of the
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above
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answers
The people at the insurance company who determine the risk
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
and accept or reject the risk are called - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Underwriters
A ______ risk is one where the proposed insured exceeds the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
basic standards so the company may offer more coverage or a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
lesser premium for the coverage applied for to the applicant. -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Preferred |\ |\
The amount the insurer needs to cover the risk it has assumed is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
called the: Mortality charge, Reserve, Standard risk, Liability
|\ |\ |\ |\ |\ |\ |\ |\ |\
account - CORRECT ANSWERS ✔✔Mortality Charge
|\ |\ |\ |\ |\
When the applicant has more to gain by the insured's continued
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
life, the applicant has an ___ in the insured. - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Insurable Interest
|\ |\
The policy owner cannot change the beneficiary to another
|\ |\ |\ |\ |\ |\ |\ |\ |\
person or entity without the beneficiary's prior consent when the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
beneficiary is listed as: The primary beneficiary, The contingent
|\ |\ |\ |\ |\ |\ |\ |\ |\
beneficiary, The irrevocable beneficiary, The default beneficiary -
|\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The irrevocable beneficiary
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, ___ is when the effective date of the policy is set at an earlier
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
date than when the application is completed in order to save
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
age. - CORRECT ANSWERS ✔✔Backdating
|\ |\ |\ |\
The payment method that allows the premium payer to authorize
|\ |\ |\ |\ |\ |\ |\ |\ |\
the premium payer's bank to automatically pay the insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
policy's premiums from the premium payer's account without
|\ |\ |\ |\ |\ |\ |\ |\
generating a paper check is: Direct bil, Pre-Authorized Checking |\ |\ |\ |\ |\ |\ |\ |\ |\
(PAC), Electronic Funds Transfer (EFT), Money order - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Pre-Authorized Checking (PAC) |\ |\ |\
If premiums are not made to keep the insurance policy in force,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the policy is said to ____. - CORRECT ANSWERS ✔✔Lapse
|\ |\ |\ |\ |\ |\ |\ |\ |\
An insurance contract is a ___ contract. - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Unilateral
The provision that provides that the policy owner has a certain
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
period of time to examine the policy is the: Grace period, Facility
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
of payment, Insuring clause, Free look - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Free Look |\
The entire contract provision lists all of the documents that make
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
up the insurance policy. These documents include: The insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\
policy, The application for the insurance policy, Riders attached
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to the policy, All of the above - CORRECT ANSWERS ✔✔All of the
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above
