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Free Life Accident and Health Insurance Basics Practice Questions

New Jersey Life, Accident & Health exam — 64 practice questions.

Subtopics: Insurable interest, Field underwriter, Warranty vs representation, Risk classes, Morbidity vs mortality, AD&D, Stock vs mutual, Risk transfer, Application, 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, 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. In life insurance, the applicant must have an insurable interest in the insured:

At the inception of the policy

Insurable interest in life insurance must exist when the policy is applied for and issued.

2. The producer is often called the field underwriter because he:

Gathers risk information and submits accurate applications

As field underwriter, the producer collects risk information and ensures the application is accurate.

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

Warranty

A warranty is guaranteed true and part of the contract; a representation is believed true.

4. An applicant with a serious health impairment is most likely rated:

Substandard

A substandard (rated) classification reflects greater-than-average risk and a higher premium.

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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.