Texas Life Insurance exam 2025/2026
Who is considered a field underwriter?
An agent
When must insurable interest exist in life insurance?
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?
Policy delivery
The Medical Information Bureau is?(MIB)
a source of medical information to alert insurers to adverse medical history
A substandard risk compared to a standard risk would pay?
a higher premium
Which document describes specific information about policy provisions and benefits?
Policy summary
Does not have an insurable interest?
Insured's best friend
What is the main source of underwriting information used by the company in the risk
selection process?
Application
An insured submits the full premium along with a completed application, and the policy
is issued 10 days later. When does the coverage begin?
On the date of application
What is the main responsibility of a company's underwriting unit?
Risk selection and classification
What best describes the USA PATRIOT Act with regards to the insurance industry?
To prevent terrorism activities through monitoring of financial transactions
If the agent feels that could misrepresentation on the part of the applicant for insurance,
what must the agent do?
Inform the insurance comapny
Representations are statements made by the applicant that are?
Considered true to the best of the applicant's knowledge
If an agent fails to obtain an applicants signature on the insurance application, the agent
must?
Return the application to the applicant for signature