Texas life insurance exam - Study guides, Class notes & Summaries

Texas Life Insurance Exam Questions and Verified Solutions.Texas Life Insurance Exam Questions and Verified Solutions.

Texas Life Insurance Exam 100% solved Insurance (General concept) - answer- transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - answer- must exist at the time of the application - insuring one's own life, family member, or a business partner Solicitation and sales presentation - answer- illustration- presentation of nonguaranteed elements - buyer's gui...

Insurance (General concept) - correct answer - transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - correct answer - must exist at the time of the application - insuring one's own life, family member, or a business partner Solicitation and sales presentation - correct answer - illustration- presentation of nonguaranteed elements - buyer's gu...

Texas Life Insurance Exam Questions with Correct Answers Graded A+ 2023/2024 ACTUAL SOLUTION Which of the following is considered a field underwriter? - CORRECT ANSWER-An agent When must insurable interest exist in life insurance? - CORRECT ANSWER-Application or issues date If no receipt is issued at the time application, a statement of good health is usually required at the time of - CORRECT ANSWER-Policy Delivery The Medical Information Bureau is - CORRECT ANSWER-A source of medi...

Texas Life Insurance Exam 2023/2024 Solved 100% Correct Insurers that are unauthorized in a state can sell insurance that traditional insurers cannot cover. They are called - - answerExcess and surplus lines insurers. What legislation protects consumers from marketing and claims practices that are unethical? - answerThe Unfair Trade Practices Act. What role do Guaranty Associations serve in the insurance community? - answerThey protect consumers in the event an insurer becomes insolvent. ...

Who is considered a field underwriter? - correct answer An agent When must insurable interest exist in life insurance? - correct answer Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - correct answer Policy delivery The Medical Information Bureau is?(MIB) - correct answer a source of medical information to alert insurers to adverse medical history A substandard risk compared to a sta...

P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when P receives the policy and pays the premium 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 carrer? 20-Pay Life accumulates cash value faster than Straight Life How does an indexed annuity di...

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Texas Life Insurance Exam 100% solved Insurance (General concept) - answer- transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - answer- must exist at the time of the application - insuring one's own life, family member, or a business partner Solicitation and sales presentation - answer- illustration- presentation of nonguaranteed elements - buyer's gui...