He was one of the few military personnel from Bolivia to actively participate in the Korean War, for which he received the Legion of Merit in 1951 for "for exceptionally meritorious conduct in the performance of outstanding services to the Government of the United States".

Terrazas was also a part of the offensive in the central sector; the retaking of Boyuibe; the advancement to Huirapitini and Mandeyapecua as the commander of the Beni 16th Infantry Regiment.

[3] Through competitive examination, he obtained a scholarship to France, where he earned the diploma as a Chief of Staff Officer at the École militaire in Paris, ranking first among the latinamerican students.

[4] In 1946, he was appointed Commanding General of the Army during a time of institutional crisis, which he successfully navigated.

Terrazas remained in his position in Washington D.C. until the Bolivian National Revolution of 1952 ousted the incumbent government.

While his plots may have been harmless, Terrazas was implicated in a movement to oust Víctor Paz Estenssoro.

A few years later, Terrazas traveled to Argentina for personal reasons, where was assassinated on August 22, 1955, presumably for political motives.