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Free Life Accident and Health Insurance Basics Practice Questions

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

Subtopics: Conditional receipt, Field underwriting, Standard risk, Substandard risk, Preferred risk, Utmost good faith, Concealment, Warranties, Premium factors, Insurable interest, Personal uses, Determining amount, Business uses, Viatical settlements, Classes of policies, 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. A conditional receipt given when an applicant pays the initial premium:

Provides coverage as of the application or medical exam date if the applicant is found insurable

A conditional receipt can provide coverage from the application or exam date, provided the applicant is later found insurable as applied for.

2. In the field underwriting role, a producer is expected to:

Gather accurate information and help select appropriate risks for the insurer

Field underwriting is the producer's role in gathering accurate applicant information and helping the insurer select risks, not setting rates or approving claims.

3. An applicant who meets the insurer's normal underwriting criteria is classified as a:

Standard risk

A standard risk represents average expected loss exposure and is charged the standard premium.

4. An applicant whose risk is higher than normal but still insurable is classified as:

Substandard

A substandard (rated) risk is insurable but at a higher premium because of greater-than-average risk.

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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.