Insurance license practice XCEL solutions FINAL EXAM #12 - Texas life only Practice Questions and Answers
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Course
Xcel
Institution
Xcel
Insurance license practice XCEL solutions FINAL EXAM #12 -
Texas life only Practice Questions and Answers
Question 1
Which settlement option pays a stated amount to an annuitant, but no
residual value to a beneficiary? - Answer️️ -Life income
Question 2
A new agent must complete at least ...
Insurance license practice XCEL solutions FINAL EXAM #12 -
Texas life only Practice Questions and Answers
Question 1
Which settlement option pays a stated amount to an annuitant, but no
residual value to a beneficiary? - Answer✔️✔️-Life income
Question 2
A new agent must complete at least _____ hours of continuing education
within 24 months of initial license? - Answer✔️✔️-24 hours
Question 3
L takes out a life insurance policy and dies 10 years later. During the claim
process, the insurer discovers that L has understated range on the
application. Under the misstatement of age provision the insurer will? -
Answer✔️✔️-Adjust the death benefits to a reduced amount
Question 4
An example of false advertising would be? - Answer✔️✔️-And insurer
exaggerating in dividends in a magazine advertisement
Question 5
With whom an agent legally share commissions? - Answer✔️✔️-Another
agent with the same line of insurance
Insurance agent as a fiduciary responsibility to all of the following
EXCEPT? - Answer✔️✔️-Other agents
Question 7
Which of these is not an example of doing insurance business? -
Answer✔️✔️-Selling shares of stock
Question 8
taking receipt of premiums and holding them for the insurance company is
an example of? - Answer✔️✔️-Fiduciary responsibility
Question 9
How does an indexed annuity differ from a fixed annuity? - Answer✔️✔️-
Indexed annuity owners receive crediting interest time to the fluctuation of
the linked index
Question 10
which of the following policies combines investment choices with a form of
Term coverage? - Answer✔️✔️-Variable universal life
Question 11
How long does an insurance company appointment remain in force? -
Answer✔️✔️-Until terminated
in Texas an individual life insurance policy is REQUIRED to have a grace
period of? - Answer✔️✔️-31 days
Question 13
Which statement is TRUE regarding a variable whole life policy? -
Answer✔️✔️-A minimum guaranteed death benefit is provided
Question 14
in an insurance contract the insurer is the only party who makes a -
Answer✔️✔️-Unilateral
Question 15
which of these is NOT considered to be an element of an insurance
contract? - Answer✔️✔️-Negotiating
Question 16
What does a 401(k) plan generally provide its participants? - Answer✔️✔️-
Salary-deferral contributions
Question 17
All these statements concerning Settlement Options are true, EXCEPT? -
Answer✔️✔️-Only the beneficiary may select
Question 18
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