Free Annuities Practice Questions
Texas Life Agent exam (series InsTX-Life01) — 96 practice questions.
Subtopics: Right to rescind, Annuity training, Suitability, Variable annuity licensing, Period certain, Annuity CE, Annuity exchanges, Best interest, Best interest care obligation, Annuity disclosure, Annuity records, Variable annuity free look, Annuity surrenders, Purpose, Accumulation period, Annuitant, Immediate annuity, Deferred annuity, Fixed annuity, Variable annuity, Equity indexed annuity, Pure life option, Life with period certain, Refund annuity, Joint and survivor, Annuity certain, Tax-deferred growth, Exclusion ratio, Surrender charge, Retirement income use, Structured settlement, Owner rights, Early withdrawal penalty, Annuity vs life insurance, Single vs flexible premium annuity, Annuity surrender charge period, Bailout provision, Market value adjustment, Annuitization vs surrender, Annuity death benefit, Free withdrawal provision, Cash refund vs installment refund, Joint life annuity, 1035 exchange, Qualified annuity funding, Accumulation vs annuity units, Assumed interest rate, Guaranteed minimum income benefit, Guaranteed minimum withdrawal benefit, Qualified longevity annuity contract, Split-annuity concept, Annuity suitability standard, Nonqualified withdrawal taxation, Owner's death before annuitization, Two-tier annuity, Annuity guaranteed minimum value, Annuity exclusion ratio, Annuity parties, Annuitant requirement, Annuity insurer guarantees, Annuity mortality, SPIA, Deferred annuity funding, Nursing home waiver, Bonus annuity, Indexed annuity cap, Indexed annuity spread, Indexed annuity participation, Annual reset, Point to point, High water mark, Indexed annuity regulation, Variable annuity units, AIR performance, GMDB, Variable annuity seller, Life with refund vs pure life, Joint and survivor variations, Smallest payout option, Annuity certain use, Education funding, Tax-sheltered annuity users, Group annuity, Annuity disclosure free look, Suitability review, Senior annuity concerns, Annuity death before annuitization, Spousal continuation, Non-natural owner, Annuity owner control, Annuity free look
Read the Annuities study guide
Sample questions & answers
1. A Texas fixed annuity contract must give the purchaser a right to rescind and receive a full refund for at least:
20 days
Texas requires a fixed annuity contract to provide at least a 20-day rescission (free-look) period.
2. Before selling annuities in Texas, an agent must complete:
A one-time four-credit annuity training course
An agent who sells annuities must complete a one-time four-credit training course approved by TDI, and the insurer must verify completion.
3. When recommending an annuity in Texas, an agent must:
Act in the consumer's best interest based on the consumer's financial situation and needs
When recommending an annuity, an agent must act in the consumer's best interest without placing the agent's or insurer's financial interest ahead of the consumer's.
4. To sell variable annuities in Texas, a producer must hold a life license and also:
A securities registration such as FINRA
Variable products are securities, so the producer must be registered with FINRA in addition to holding a life and annuity license.
Practice: Annuities
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
