Texas Life & Health Insurance License Practice Exam
Free Texas Life & Health insurance license practice exam. 30 state-specific questions covering TDI Commissioner, newborn coverage mandate, CE requirements, Texas contestability rules, and TX guaranty association.
Texas Life & Health State Law
All 30 questions focus exclusively on Texas-specific insurance law and regulations.
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⭐ Texas Life & Health
TDI Commissioner, newborn coverage mandate, CE requirements, Texas contestability rules, and TX guaranty association.
About the Texas Life and Health Insurance Exam
The Texas Life and Health insurance producer exam is required by the Texas Department of Insurance (TDI). Texas is a major hub for insurance company operations and has a large, diverse insurance market. The TDI Commissioner has broad regulatory authority and the Texas Life and Health Insurance Guaranty Association provides policyholder protection if an insurer becomes insolvent.
State-specific content includes TDI Commissioner authority, Texas licensing and CE requirements (24 hours every two years), Texas contestability provisions, group insurance conversion rights, Texas Life and Health Insurance Guaranty Association limits, newborn and adopted child coverage mandates, and Texas-specific suitability requirements for annuity sales to seniors.
Study Tips
Texas requires 24 hours of continuing education every two-year license period with specific ethics requirements. The Texas guaranty association provides coverage if an insurer becomes insolvent up to specified limits; understand what types of policies are covered. Newborn and adopted children must be covered from birth or adoption under Texas group health insurance without a waiting period — this mandate appears frequently.
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FINRA & NASAA Licensing Exams
Knowledge of Capital Markets
Regulatory entities, market structure, economic factors, and offerings. ~16% of SIE.
Understanding Products & Their Risks
Equity, debt, packaged products, options, and alternative investments. ~44% of SIE.
Trading, Customers & Prohibited Activities
Accounts, orders, settlement, suitability, and prohibited practices. ~31% of SIE.
Overview of the Regulatory Framework
SEC, FINRA, MSRB rules, registration framework, and investor protections. 9% of SIE — 7 questions. Smallest section.
Full SIE Practice Exam
All four domains mixed and weighted by the official FINRA SIE exam blueprint.
Seeks Business for the Broker-Dealer
Communications, marketing, investment products, and soliciting customers. ~7% of Series 7.
Opens Accounts & Evaluates Customer Profiles
Account types, customer information, suitability, margin, and investment objectives. ~9% of Series 7.
Provides Information & Makes Recommendations
Securities analysis, portfolio strategy, options, taxes, and retirement accounts. ~73% of Series 7.
Processes, Completes & Confirms Transactions
Order types, trade execution, settlement, recordkeeping, and compliance. ~11% of Series 7.
Full Series 7 Practice Exam
All four job functions mixed and weighted by the official FINRA Series 7 blueprint.
Series 6 Exam
Investment Company & Variable Contracts Products Representative. Requires SIE. 50 scored questions, 90 minutes, 70% to pass.
Seeks Business
Solicit clients, communications, outside activities, and regulatory obligations. ~24% of Series 6.
Opens Accounts
Account types, suitability, KYC, retirement accounts, and variable annuity requirements. ~16% of Series 6.
Products & Recommendations
Mutual funds, variable annuities, UITs, and investment recommendations. ~50% of Series 6.
Processes Transactions
Order processing, NAV pricing, confirmations, and account maintenance. ~10% of Series 6.
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Full Series 6 Practice Exam
All four domains mixed and weighted by the official FINRA Series 6 blueprint.
Regulation of Securities & Issuers
Registration of securities, exempt securities, exempt transactions. ~20% of Series 63.
Regulation of Persons
Registration of broker-dealers, agents, investment advisers. ~40% of Series 63.
Fraudulent & Prohibited Practices
Fraud, dishonest conduct, unethical practices, and enforcement actions. ~40% of Series 63.
Full Series 63 Practice Exam
All three sections mixed and weighted by the official NASAA Series 63 blueprint.
Series 65 Exam
Uniform Investment Adviser Law Exam. No prerequisite. 130 scored questions, 3 hours, 71% to pass (92/130).
Economic Factors
Macroeconomics, financial statements, quantitative analysis, and investment risk. ~15% of Series 65.
Investment Vehicles
Mutual funds, ETFs, annuities, REITs, hedge funds, and alternative investments. ~25% of Series 65.
Client Strategies
Asset allocation, portfolio management, retirement planning, and tax strategies. ~30% of Series 65.
Laws & Regulations
Investment Advisers Act, Uniform Securities Act, fiduciary duty, and prohibited practices. ~30% of Series 65.
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Full Series 65 Practice Exam
All four domains mixed and weighted by the official NASAA Series 65 blueprint.
Economic Factors & Business Information
Business structures, financial statements, valuation methods. ~5% of Series 66.
Investment Vehicle Characteristics
Equity, debt, pooled investments, insurance products, and alternatives. ~20% of Series 66.
Client Investment Recommendations & Strategies
Portfolio management, asset allocation, tax planning, retirement. ~30% of Series 66.
Laws, Regulations & Guidelines
Uniform Securities Act, Investment Advisers Act, fiduciary duties. ~45% of Series 66.
Full Series 66 Practice Exam
All four sections mixed and weighted by the official NASAA Series 66 blueprint.
Series 9 Exam
General Securities Sales Supervisor — Options. Requires SIE + Series 7. 55 scored questions, 90 minutes, 70% to pass.
Supervise Options Accounts
Opening and maintenance of customer options accounts. ~33% of Series 9.
Sales Practices & Trading
Supervise options sales practices and general options trading activities. ~34% of Series 9.
Options Communications
Supervise communications with the public regarding options. ~16% of Series 9.
Options Compliance
Supervise options compliance activities, recordkeeping, and regulatory requirements. ~16% of Series 9.
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Full Series 9 Practice Exam
All four domains mixed and weighted by the official FINRA Series 9 blueprint.
Series 10 Exam
General Securities Sales Supervisor — General. Requires SIE + Series 7. 145 scored questions, 4 hours, 70% to pass.
Personnel Management
Supervise associated persons, registration, CE, hiring, and firm procedures. 19% of Series 10 — 28 questions.
Customer Accounts
Supervise opening, maintenance, and compliance of customer accounts. 34% of Series 10 — 49 questions.
Sales Practices & Trading
Supervise sales practices, trading activities, and Reg BI compliance. 36% of Series 10 — 52 questions. Largest section.
Communications with the Public
Supervise firm communications, advertising, and public disclosures. 11% of Series 10 — 16 questions.
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Full Series 10 Practice Exam
All four domains mixed and weighted by the official FINRA Series 10 blueprint.
Series 24 Exam
General Securities Principal. Requires SIE + Series 7 (or equivalent). 150 scored questions, 3 hours 45 minutes, 70% to pass.
Registration & Personnel
Broker-dealer registration, Form U4/U5, CE requirements, and hiring practices. 9% of Series 24.
General BD Activities
Net capital, market making, research rules, supervisory procedures, and BCP. ~28% of Series 24.
Customer Activities
Suitability, Reg BI, churning, senior investors, complaints, and account supervision. ~25% of Series 24.
Trading & Market-Making
Best execution, short sales, Reg NMS, trade reporting, and market manipulation. ~22% of Series 24.
Investment Banking & New Issues
Underwriting, IPO rules, research restrictions, Reg D, and Reg M. ~16% of Series 24.
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Full Series 24 Practice Exam
All five domains mixed and weighted by the official FINRA Series 24 blueprint.
Series 3 -- National Commodities Futures Exam
120 scored questions, 2.5 hours, 70% required on EACH part separately. Administered by FINRA on behalf of the NFA. No firm sponsorship required. Qualifies you to solicit or advise on commodity futures and options on futures.
Market Knowledge
Futures pricing, basis, hedging strategies, speculation, options on futures, margin, and spread trading. ~85 questions on the real exam -- the larger part.
Regulations
CFTC authority, NFA rules, FCM and IB requirements, customer segregation, position limits, anti-fraud rules. ~35 questions. Must pass this part separately.
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Full Series 3 Practice Exam
120 questions weighted to match the real exam -- ~85 market knowledge and ~35 regulations. Remember: you must score 70% on each part separately to pass.
Series 4 -- Registered Options Principal
125 scored questions (135 total), 3 hours 15 min, 70% to pass. Qualifies you to supervise options trading and sales at a broker-dealer. Requires Series 7 as a co-requisite.
Options Products and Strategies
Covered calls, spreads, straddles, butterflies, Greeks (delta gamma), put-call parity, and strategy mechanics. ~24% of exam.
Customer Accounts and Suitability
Options approval levels, ODD delivery, suitability analysis, account types, exercise and assignment, position limits. ~20% of exam.
Supervision and Compliance
FINRA Rule 3110, WSPs, ROP responsibilities, churning detection, discretionary account review, and supervisory systems. ~20% of exam.
Communications and Documentation
FINRA Rule 2220, options advertising review, retail vs. institutional communications, ODD requirements, and FINRA filing obligations.
Margin and Risk Management
Covered vs. uncovered margin requirements, portfolio margin, OCC margin rules, and risk controls.
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Full Series 4 Practice Exam
125 questions across all 6 content areas weighted to match the official FINRA blueprint.
Professional Certification Exams
CFP® Certification Exam
CERTIFIED FINANCIAL PLANNER® Exam. 170 questions, 6 hours (two 3-hour sessions), pass/fail (~70%). Offered 3x per year: March, July, November.
Professional Conduct & Regulation
CFP Board Code of Ethics, fiduciary duty, regulatory requirements, and consumer protection laws. 8% of exam — 14 questions.
General Principles of Financial Planning
Financial planning process, cash flow, time value of money, education planning, and economic concepts. 15% of exam — 26 questions.
Risk Management & Insurance
Life, disability, LTC, health, property insurance; risk analysis and product selection. 11% of exam — 19 questions.
Investment Planning
Portfolio theory, asset allocation, investment strategies, performance measurement, and behavioral finance. 17% of exam — 29 questions.
Tax Planning
Income tax, capital gains, business entities, tax-advantaged strategies, and tax-efficient investing. 14% of exam — 24 questions.
Retirement Savings & Income
Qualified plans, IRAs, Social Security, Medicare, distribution strategies, and income planning. 18% of exam — 31 questions. Largest domain.
Estate Planning
Wills, trusts, gift strategies, estate tax, charitable giving, and wealth transfer techniques. 10% of exam — 17 questions.
Psychology of Financial Planning
Behavioral biases, client communication, money scripts, and counseling techniques. 7% of exam — 12 questions.
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Full CFP® Practice Exam
All 8 domains weighted to match the official CFP Board blueprint — 170 questions across two simulated 3-hour sessions.
CFA Level 1 Exam
Chartered Financial Analyst -- Level 1. 180 MCQs (3 options each), 4h30m, ~42% pass rate. Tests foundational investment knowledge across 10 topic areas.
Ethics & Professional Standards
CFA Institute Code of Ethics, Standards of Professional Conduct, and GIPS. 15-20% of exam -- largest topic.
Quantitative Methods
Time value of money, statistics, probability, regression, and performance measurement. 6-9% of exam.
Economics
Micro and macroeconomics, monetary policy, fiscal policy, and international trade. 6-9% of exam.
Financial Statement Analysis
Income statement, balance sheet, cash flows, ratios, and financial reporting standards. 11-14% of exam.
Corporate Issuers
Capital structure, cost of capital, dividends, working capital management, and corporate governance. 6-9% of exam.
Equity Investments
Equity markets, valuation models, industry analysis, and equity research. 11-14% of exam.
Fixed Income
Bond markets, pricing, duration, yield curves, credit risk, and structured products. 11-14% of exam.
Derivatives
Options, futures, forwards, swaps, and put-call parity. 5-8% of exam.
Alternative Investments
Private equity, hedge funds, real assets, commodities, and infrastructure. 7-10% of exam.
Portfolio Management
Modern portfolio theory, CAPM, CML, SML, and portfolio construction. 8-12% of exam.
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Full CFA Level 1 Practice Exam
90 questions weighted to mirror the official CFA Institute topic weight ranges across all 10 topics.
CFA Level 2 Exam
Chartered Financial Analyst -- Level 2. 88 vignette-based MCQs, 4h24m, ~46% pass rate. Tests application and analysis. Note: real exam uses item sets (vignettes); practice questions here are standalone MCQs covering the same concepts.
Ethics & Professional Standards
Applied ethics scenarios, GIPS, and Standards enforcement. 10-15% of exam.
Quantitative Methods
Advanced regression, time series, and machine learning applications. 5-10% of exam.
Economics
Currency exchange rates, international parity conditions, and economic analysis. 5-10% of exam.
Financial Statement Analysis
Intercorporate investments, employee benefits, and advanced FSA. 10-15% of exam.
Equity Investments
DDM, FCFE/FCFF, residual income, relative valuation, and industry analysis. 10-15% of exam.
Fixed Income
Term structure models, credit analysis, MBS, and embedded options valuation. 10-15% of exam.
Derivatives
Pricing and valuation of options, forwards, futures, and swaps. 5-10% of exam.
Portfolio Management
Active management, factor models, risk management, and performance evaluation. 10-15% of exam.
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Full CFA Level 2 Practice Exam
44 questions weighted to mirror the official CFA Level 2 topic weights. Note: real exam uses vignette item sets.
CFA Level 3 Exam
Chartered Financial Analyst -- Level 3. 4h24m, ~56% pass rate. Tests portfolio management and wealth management application. Note: real exam includes constructed response (essay) questions -- practice here covers the same concepts in MCQ format.
Ethics & Professional Standards
Applied ethics in portfolio management context, GIPS for composites. 10-15% of exam.
Portfolio Management
IPS, asset allocation, MVO, Black-Litterman, and implementation. 25-40% of exam -- dominant topic.
Fixed Income Portfolio Mgmt
LDI, immunization, yield curve strategies, and liability-relative investing. 15-20% of exam.
Equity Portfolio Management
Active vs. passive, factor strategies, long-short, and fundamental law of active management. 10-15% of exam.
Risk Management
VaR, CVaR, risk budgeting, derivatives overlay, and currency risk management. 10-15% of exam.
Alternative Investments
Private equity, infrastructure, real estate, and hedge funds in portfolio context. 5-10% of exam.
Private Wealth Management
HNW client planning, concentrated positions, estate planning, behavioral finance. 10-15% of exam.
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Full CFA Level 3 Practice Exam
44 questions weighted by official topic areas. Note: real exam includes essay questions not replicable in MCQ format.
CAIA Level 1 Exam
Chartered Alternative Investment Analyst -- Level 1. 200 questions, 4 hours (two 2-hour sessions), ~50% pass rate. Offered March and September.
Ethics and Professional Standards
CFA Institute Standards of Practice, CAIA Code of Ethics, operational ethics and fraud prevention. 15-20% of exam.
Introduction to Alternative Investments
Asset class overview, alpha/beta, quantitative methods, fund structures, and performance measurement. 15-20% of exam.
Real Assets
Real estate, infrastructure, commodities, natural resources, and farmland/timberland. 10-15% of exam.
Hedge Funds
Strategies (L/S equity, global macro, event-driven, relative value), fee structures, and performance analysis. 10-15% of exam.
Private Equity
Venture capital, LBOs, growth equity, mezzanine, fund lifecycle, and performance metrics (IRR, TVPI, DPI). 10-15% of exam.
Structured Products
CDOs, CLOs, ABS, MBS, credit default swaps, and tranche structures. 10-15% of exam.
Risk Management and Portfolio
Risk metrics, VaR, Sharpe/Sortino/Calmar ratios, liquidity risk, risk parity, and portfolio construction. 10-15% of exam.
Fund of Funds
FoF structures, multi-strategy funds, manager selection, due diligence, portable alpha, and fee layering. 5-10% of exam.
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Full CAIA Level 1 Practice Exam
All 8 topics weighted to match the official CAIA blueprint. 200 questions across two timed sessions.
CAIA Level 2 Exam
Chartered Alternative Investment Analyst -- Level 2. 100 MCQ + 3 essay sets, 4 hours, ~60% pass rate. Note: Section 2 has constructed-response essays -- our practice covers the MCQ section concepts and knowledge.
Institutional Asset Owners
Pension funds, endowments, SWFs, family offices, and investment policy statements. 8-12% of exam.
Asset Allocation
Strategic and dynamic allocation, risk factor diversification, MVO, and alternative integration. 8-12% of exam.
Risk Management
Drawdown analysis, liquidity risk, counterparty risk, ESG risk, leverage risk, and stress testing. 8-12% of exam.
Methods and Models
Bootstrapping, factor analysis, Monte Carlo, Hurst exponent, replication strategies, and performance attribution. 8-12% of exam.
Accessing Alternatives
Direct lending, managed accounts, liquid alts, secondary markets, subscription lines, and co-investments. 8-12% of exam.
Due Diligence
Operational DD, valuation policies, reference calls, key person risk, side letters, and gates. 8-12% of exam.
Volatility and Complex Strategies
VIX, VRP, dispersion trading, variance swaps, gamma, volatility term structure, and correlation products. 8-12% of exam.
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Full CAIA Level 2 Practice Exam
All 7 topics weighted to the official CAIA blueprint. 100 questions covering the MCQ section of the exam.
FRM® Part 1 — Financial Risk Manager
The first of two exams required for the FRM designation from GARP. 100 equally weighted questions, 4 hours, approximately 42-47% pass rate. Covers the foundational tools of risk management: foundations, quantitative analysis, financial markets and products, and valuation and risk models.
Foundations of Risk Management
Risk types, CAPM, APT, MPT, risk governance, ERM, RAROC, GARP Code of Conduct, case studies (LTCM, GFC, Barings), Basel III overview.
Quantitative Analysis
Probability distributions, VaR methods, Monte Carlo simulation, GARCH, EVT, regression, backtesting, coherent risk measures, copulas.
Financial Markets and Products
Forwards, futures, swaps, options, interest rates, bonds, duration, convexity, FX, securitization, MBS, repos, volatility surfaces, Greeks.
Valuation and Risk Models
Parametric and historical VaR, ES, credit risk (EL/UL/PD/LGD), structural and reduced-form models, binomial trees, BSM, stress testing, GARCH, economic capital.
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Full FRM Part 1 Practice Exam
100 questions weighted 20/20/30/30 to match the official GARP content outline. All four topic areas tested proportionally.
FRM® Part 2 — Financial Risk Manager
The second exam required for the FRM designation. 80 equally weighted questions, 4 hours, approximately 45-50% pass rate. Applies Part 1 tools to real-world risk management across market risk, credit risk, operational risk, liquidity, investment management, and current issues.
Market Risk Measurement
FRTB, ES vs VaR, liquidity-adjusted VaR, P&L attribution, stressed VaR, volatility surfaces, DV01, gamma/vega risk management.
Credit Risk Measurement
Basel IRB, CCR, copula models, CDOs, netting and collateral, concentration risk, CVA, Altman Z-score, sovereign risk, LGD and recovery.
Operational Risk and Resilience
LDA, KRIs, BCP, cyber risk, three lines of defense, model risk, conduct risk, outsourcing, SMA, culture and incentives.
Liquidity and Treasury Risk
LCR, NSFR, funding vs. market liquidity, stress testing, intraday liquidity, FTP, central bank facilities, maturity ladder.
Risk Management and Investment Management
Active management, risk budgeting, portable alpha, hedge fund risk, IR, LDI, fundamental law of active management, factor investing, endowment model.
Current Issues in Financial Markets
Climate risk, COVID-19 market stress, fintech risks, private credit, LIBOR transition to SOFR, SVB failure, ESG investing, AI in risk management.
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Full FRM Part 2 Practice Exam
80 questions weighted to match the official GARP Part 2 content outline across all six topic areas.
Insurance Licensing Exams
Life & Health Insurance License
National content covering life insurance, health insurance, annuities, disability, Medicare, and state regulations. 60 questions, 2.5 hours, 70% to pass. Required in all 50 states to sell life and health products.
Life Insurance Types
Term, whole life, universal, variable, endowment, juvenile life, joint life, and accelerated benefits. 15-20% of exam.
Life Insurance Policy Provisions
Incontestability, grace period, reinstatement, suicide clause, nonforfeiture options, beneficiary designations. 15-20% of exam.
Annuities
Fixed, variable, indexed annuities, annuitization, payout options, and surrender periods. 10-15% of exam.
Health Insurance
HMO, PPO, HDHP, HSA, COBRA, coordination of benefits, disability income, and group vs. individual coverage. 15-20% of exam.
Medicare, Medicaid & Medigap
Medicare Parts A, B, C, D, Medigap supplement plans, Medicare Advantage, and Medicaid eligibility. 10-15% of exam.
Regulations & Ethics
Commissioner authority, twisting, rebating, free-look period, guaranty associations, producer licensing, and policy illustrations. 10-15% of exam.
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Full Life & Health Practice Exam
60 questions weighted to match the national content outline. Covers all domains tested on the actual state licensing exam.
Property & Casualty Insurance License
National content covering property insurance, auto insurance, liability, commercial lines, and state regulations. 60 questions, 2.5 hours, 70% to pass. Required in all 50 states to sell P&C products.
Insurance Concepts & Terms
Insurable interest, indemnity, subrogation, ACV vs. replacement cost, deductibles, proximate cause, occurrence vs. claims-made. 10-15% of exam.
Property Insurance
Homeowners forms (HO-3, HO-4, HO-5), flood exclusions, NFIP, commercial property, coinsurance, BOP. 20-25% of exam.
Auto Insurance
Personal Auto Policy (PAP), liability, collision, comprehensive, uninsured motorist, PIP, no-fault, and gap insurance. 15-20% of exam.
Liability Insurance
CGL, umbrella, workers compensation, professional liability (E&O), D&O, and pollution liability. 15-20% of exam.
Regulations & Ethics
Commissioner authority, cancellation rules, unfair discrimination, surplus lines, reinsurance, and producer duties. 10-15% of exam.
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Full Property & Casualty Practice Exam
60 questions weighted to match the national content outline. Covers all domains tested on the actual state licensing exam.
State Law Practice
State-specific questions covering the laws and regulations unique to each state's insurance exam. Use these alongside the national exam to prepare for your specific state test.
🐻 California Life & Health
CA CDI requirements, senior protections, LTC training, free-look for seniors, LGBTQ+ protections, and CA-specific mandates.
🐻 California Property & Casualty
Prop 103, FAIR Plan, good driver discount, earthquake mandate, wildfire rules, and CDI bad faith law.
🗽 New York Life & Health
NY DFS, guaranteed issue, community rating, mental health parity, Paid Family Leave, DBL, and NY producer requirements.
🗽 New York Property & Casualty
No-fault PIP ($50,000), SUM coverage requirements, NYSIF, serious injury threshold, and NY auto regulations.
⭐ Texas Life & Health
TDI Commissioner, newborn coverage mandate, CE requirements, Texas contestability rules, and TX guaranty association.
⭐ Texas Property & Casualty
Texas promulgated forms (HO-A, HO-B, HO-C), TWIA, file-and-use rating, cancellation notice rules, and SR-22.
🌴 Florida Life & Health
Florida DFS, replacement requirements, autism mandate, sliding prohibition, CE requirements, and FL guaranty limits.
🌴 Florida Property & Casualty
Citizens Property Insurance, FHCF, wind mitigation discounts, PIP no-fault ($10,000), hurricane cat fund.
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