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Free Life Accident and Health Insurance Basics Practice Questions

Hawaii Life, Accident & Health exam — 64 practice questions.

Subtopics: Contract elements, Consideration, Conditional receipt, Field underwriting, Utmost good faith, Concealment, Insurable interest, Agent versus broker, Risk avoidance, Personal uses, Determining amount, Business uses, Viatical settlements, Classes of policies, Premium factors, Premium frequency, Producer responsibilities, Policy delivery, Company underwriting, Classification of risks, Legal concepts, Definitions of perils, Types of losses and benefits, Limited health policies, Replacing health insurance, Premium determination, Binding receipt, Insuring clause, Consideration clause, Free-look provision, Policy ownership, Third-party ownership, Mortality table, Level premium concept, Net amount at risk, Policy reserves, Living benefits of cash value, Attending physician statement, Inspection report, Declined risk, Flat extra premium, Replacement, Buyer's Guide, Controlling adverse selection, Premature death, Final expense insurance, Estate liquidity, Charitable uses, Survivorship policy, Juvenile insurance, Life settlement, Creditor insurable interest, Human life value

Read the Life Accident and Health Insurance Basics study guide

Sample questions & answers

1. Which of the following is a required element of a valid insurance contract?

Offer and acceptance (mutual agreement)

A valid contract requires agreement (offer and acceptance) along with consideration, legal purpose, and competent parties.

2. In an insurance contract, the applicant's consideration generally consists of:

The premium payment and the statements on the application

The applicant's consideration is the premium paid and the representations made in the application.

3. When an applicant pays the initial premium with the application, a conditional receipt provides coverage:

Subject to the applicant being found insurable as applied for

A conditional receipt provides coverage as of the receipt date provided the applicant is found insurable as applied for.

4. When a producer gathers information and helps complete the application, the producer is performing:

Field underwriting

Gathering applicant information and completing the application is field underwriting by the producer.

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Practice: Life Accident and Health Insurance Basics

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.