TEXAS LIFE INSURANCE EXAMINATION
SCRIPT 2026 COMPLETE QUESTIONS
WITH FULL SOLUTIONS
◉ If a life insurance policy has irrevocable beneficiary designation,
Answer: The beneficiary can only be changed with written
permission of the beneficiary
◉ Because of an injury, an insured has been unable to work for 7
months. He wasn't able to pay his life insurance policy premium, yet
the policy remained in force. The policy includes
Answer: Waiver of premium rider
◉ What is not TRUE about the guaranteed insurability rider?
Answer: it is available automatically, for no extra premium
◉ Generally, the premium paid for personal life insurance is?
Answer: Not tax deductible
◉ What is NOT true regarding policy loans?
Answer: Money borrowed from the cash value is taxable.
, ◉ What is NOT a requirement of a qualified plan?
Answer: it must be temporary
◉ If a life policy does not pass the 7-pay test, that policy...
Answer: Becomes a Modified Endowment Contract
◉ The 10% early withdrawal penalty from an IRA can be waived
for...
Answer: Catastrophic medical expenses
◉ The number of Quarters required to obtain a fully insured status
to receive Social Security benefits is...
Answer: 40
◉ What kind of person would not be eligible to set up contribution
to a traditional IRA?
Answer: Age 72, a nurse
◉ What is the requirement for a number of employees in a SIMPLE
plan
Answer: No more than 100
◉ The advantage of qualified plans to employers is
SCRIPT 2026 COMPLETE QUESTIONS
WITH FULL SOLUTIONS
◉ If a life insurance policy has irrevocable beneficiary designation,
Answer: The beneficiary can only be changed with written
permission of the beneficiary
◉ Because of an injury, an insured has been unable to work for 7
months. He wasn't able to pay his life insurance policy premium, yet
the policy remained in force. The policy includes
Answer: Waiver of premium rider
◉ What is not TRUE about the guaranteed insurability rider?
Answer: it is available automatically, for no extra premium
◉ Generally, the premium paid for personal life insurance is?
Answer: Not tax deductible
◉ What is NOT true regarding policy loans?
Answer: Money borrowed from the cash value is taxable.
, ◉ What is NOT a requirement of a qualified plan?
Answer: it must be temporary
◉ If a life policy does not pass the 7-pay test, that policy...
Answer: Becomes a Modified Endowment Contract
◉ The 10% early withdrawal penalty from an IRA can be waived
for...
Answer: Catastrophic medical expenses
◉ The number of Quarters required to obtain a fully insured status
to receive Social Security benefits is...
Answer: 40
◉ What kind of person would not be eligible to set up contribution
to a traditional IRA?
Answer: Age 72, a nurse
◉ What is the requirement for a number of employees in a SIMPLE
plan
Answer: No more than 100
◉ The advantage of qualified plans to employers is
