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TEXAS GENERAL LINES LIFE, ACCIDENT AND
HEALTH INSURANCE 2 LATEST VERSIONS ACTUAL
EXAM COMPLETE 500 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+/ LATEST EXAM!!!
1) Sandra Timms, age 27, is advised by her producer to
purchase Life insurance to cover a 20-year-amortized
$50,000 business-improvement loan. Which of the
following plans would adequately protect Ms. Timms at the
minimum premium outlay? - Answer-A- $50,000 Whole
Life policy
B- $50,000 Level Term policy for 20 years
C- $50,000 20 Pay Life policy
D- $50,000 Decreasing Term policy for 20 years
2) A 45-year old customer who is seeking to supplement
his retirement income at age 65 would not buy a: -
Answer-A- Deferred Annuity
B- Equity Indexed Annuity
C- Variable Annuity
D- Immediate Annuity
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3) John Livingston owns a 30-Pay Life policy that he
purchased at the age of 30. The cash value will equal the
face amount of the policy when he reaches the age of: -
Answer-A- 60
B- 70
C- 100
D- 30
4) Which of the following is an example of a Limited-Pay
Life policy? - Answer-A- Universal life
B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age 70
5) Which of the following policies provides the greatest
amount of protection for an insured's premium dollar as
well as some cash accumulation? - Answer-A- Annuity
B- Whole Life
C- Term
D- Limited-Pay Life
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6) Which of the following individual policy conversions is
usually permitted without any evidence of insurability? -
Answer-A- Conversion to a lower-premium plan
B- Conversion from a Whole Life policy to a Term policy
C- Conversion from a Term policy to a Whole Life policy
D- Conversion to a larger amount of insurance
7) Which of the following is NOT correct regarding
Ordinary Whole Life policies? - Answer-A- The premiums
payments are owed annually until you die or reach age
100
B- The cash value grows more quickly in the beginning
years of the policy
C- Coverage lasts for your own life
D- Ordinary Whole Life is a type of permanent insurance
8) Which of the following statements is true about the
premium payment schedule for a Whole Life policy? -
Answer-A- Premiums are payable for a designated period
of time only, after which coverage is no longer provided
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B- Premiums are payable until the insured's retirement
only, after which coverage is continued automatically 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 amount of the policy
at the time of the insured's death
D- Premiums are payable throughout the insured's
lifetime, and coverage continues until the insured's death
9) A life insurance policy that covers two parties, but only
pays when the last party dies is known as: - Answer-A-
Joint Life
B- Contingent Life
C- Other insured Life
D- Survivorship Life
10) Which of the following contracts requires that a series
of benefit payments be made at specified intervals? -
Answer-A- 20-Pay Life
B- Modified Whole Life
TEXAS GENERAL LINES LIFE, ACCIDENT AND
HEALTH INSURANCE 2 LATEST VERSIONS ACTUAL
EXAM COMPLETE 500 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+/ LATEST EXAM!!!
1) Sandra Timms, age 27, is advised by her producer to
purchase Life insurance to cover a 20-year-amortized
$50,000 business-improvement loan. Which of the
following plans would adequately protect Ms. Timms at the
minimum premium outlay? - Answer-A- $50,000 Whole
Life policy
B- $50,000 Level Term policy for 20 years
C- $50,000 20 Pay Life policy
D- $50,000 Decreasing Term policy for 20 years
2) A 45-year old customer who is seeking to supplement
his retirement income at age 65 would not buy a: -
Answer-A- Deferred Annuity
B- Equity Indexed Annuity
C- Variable Annuity
D- Immediate Annuity
,2|Page
3) John Livingston owns a 30-Pay Life policy that he
purchased at the age of 30. The cash value will equal the
face amount of the policy when he reaches the age of: -
Answer-A- 60
B- 70
C- 100
D- 30
4) Which of the following is an example of a Limited-Pay
Life policy? - Answer-A- Universal life
B- Whole Life
C- Life Paid-Up at Age 65
D- Renewable Term to Age 70
5) Which of the following policies provides the greatest
amount of protection for an insured's premium dollar as
well as some cash accumulation? - Answer-A- Annuity
B- Whole Life
C- Term
D- Limited-Pay Life
,3|Page
6) Which of the following individual policy conversions is
usually permitted without any evidence of insurability? -
Answer-A- Conversion to a lower-premium plan
B- Conversion from a Whole Life policy to a Term policy
C- Conversion from a Term policy to a Whole Life policy
D- Conversion to a larger amount of insurance
7) Which of the following is NOT correct regarding
Ordinary Whole Life policies? - Answer-A- The premiums
payments are owed annually until you die or reach age
100
B- The cash value grows more quickly in the beginning
years of the policy
C- Coverage lasts for your own life
D- Ordinary Whole Life is a type of permanent insurance
8) Which of the following statements is true about the
premium payment schedule for a Whole Life policy? -
Answer-A- Premiums are payable for a designated period
of time only, after which coverage is no longer provided
, 4|Page
B- Premiums are payable until the insured's retirement
only, after which coverage is continued automatically 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 amount of the policy
at the time of the insured's death
D- Premiums are payable throughout the insured's
lifetime, and coverage continues until the insured's death
9) A life insurance policy that covers two parties, but only
pays when the last party dies is known as: - Answer-A-
Joint Life
B- Contingent Life
C- Other insured Life
D- Survivorship Life
10) Which of the following contracts requires that a series
of benefit payments be made at specified intervals? -
Answer-A- 20-Pay Life
B- Modified Whole Life
