Page 1 of 150
TEXAS STATE LIFE AND HEALTH INSURANCE EXAM
SIMULATOR ACTUAL EXAM 300 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A+||BRAND NEW!!
An annuity promises that, if the annuitant dies before receiving
payments equal to the correct value, the payments will be
continued to a beneficiary until an amount equal to the contract
value has been paid. This type of annuity is called
An installment Refund annuity
A Straight Life annuity
A Cash Refund annuity
A Joint Life annuity
.....ANSWER.....An installment Refund annuity
,Page 2 of 150
One becomes eligible for Social Security disability benefits after
having been disabled for
3 months
5 months
6 months
12 months
.....ANSWER.....5 months
A potential client, age 40, would like to purchase a Whole Life
policy that will accumulate cash value at a faster rate in the
early years of the policy. Which of these statements made by
the producer would be correct?
Straight life accumulates faster than Limited-pay Life
,Page 3 of 150
20-Pay Life accumulates cash value faster than Straight Life
Cash value accumulation of both 20-Pay Life and Straight Life
depend on the insurer's financial rating
20-Pay Life and Straight Life accumulate cash value at the same
rate .....ANSWER.....20-Pay Life accumulates cash value faster
than Straight Life
Who makes the legally enforceable promises in a unilateral
insurance policy?
Beneficiary
Insurance company
Insured
Applicant
.....ANSWER.....Insurance company
, Page 4 of 150
The Consideration clause in a life insurance policy indicates that
a policyowner's consideration consists of a completed application
and
the initial premium
agreeing to a physical examination
delivery of policy
disclosure of any medical conditions
.....ANSWER.....the initial premium
Which parts of a life insurance policy are guaranteed to be
true?
Rating
Representation
TEXAS STATE LIFE AND HEALTH INSURANCE EXAM
SIMULATOR ACTUAL EXAM 300 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A+||BRAND NEW!!
An annuity promises that, if the annuitant dies before receiving
payments equal to the correct value, the payments will be
continued to a beneficiary until an amount equal to the contract
value has been paid. This type of annuity is called
An installment Refund annuity
A Straight Life annuity
A Cash Refund annuity
A Joint Life annuity
.....ANSWER.....An installment Refund annuity
,Page 2 of 150
One becomes eligible for Social Security disability benefits after
having been disabled for
3 months
5 months
6 months
12 months
.....ANSWER.....5 months
A potential client, age 40, would like to purchase a Whole Life
policy that will accumulate cash value at a faster rate in the
early years of the policy. Which of these statements made by
the producer would be correct?
Straight life accumulates faster than Limited-pay Life
,Page 3 of 150
20-Pay Life accumulates cash value faster than Straight Life
Cash value accumulation of both 20-Pay Life and Straight Life
depend on the insurer's financial rating
20-Pay Life and Straight Life accumulate cash value at the same
rate .....ANSWER.....20-Pay Life accumulates cash value faster
than Straight Life
Who makes the legally enforceable promises in a unilateral
insurance policy?
Beneficiary
Insurance company
Insured
Applicant
.....ANSWER.....Insurance company
, Page 4 of 150
The Consideration clause in a life insurance policy indicates that
a policyowner's consideration consists of a completed application
and
the initial premium
agreeing to a physical examination
delivery of policy
disclosure of any medical conditions
.....ANSWER.....the initial premium
Which parts of a life insurance policy are guaranteed to be
true?
Rating
Representation
