1. Exam Prep
  2. Massachusetts
  3. Life, Accident & Health
  4. Life Accident and Health Insurance Basics

Free Life Accident and Health Insurance Basics Practice Questions

Massachusetts Life, Accident & Health exam — 62 practice questions.

Subtopics: Insurable interest, Peril, Underwriting, Warranty, Premium factors, Concealment, Adverse selection, 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, Conditional receipt, 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. For an individual life insurance policy, insurable interest must exist:

At the time the policy is issued

Insurable interest must exist at the inception of a life insurance contract when the policy is applied for and issued.

2. In insurance terminology, a peril is best defined as:

The cause of a loss, such as fire or illness

A peril is the actual cause of a loss, such as fire, accident, or sickness, as distinguished from a hazard.

3. Classifying applicants into standard, preferred, or substandard categories is part of:

Underwriting

Underwriting includes evaluating and classifying applicants into risk categories that affect their premium.

4. A statement guaranteed to be true that becomes part of the insurance contract is a:

Warranty

A warranty is a statement guaranteed to be true and made part of the contract.

All Life, Accident & Health topics

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.