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Free Life Accident and Health Insurance Basics Practice Questions

Pennsylvania Life, Accident & Health exam (series 16-03) — 57 practice questions.

Subtopics: Insurable interest, Risk classification, 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, insurable interest must exist:

At the time the policy is applied for (inception)

For life insurance, insurable interest must exist at policy inception, not necessarily at the time of loss.

2. Grouping applicants as preferred, standard, or substandard based on expected mortality is:

Risk classification in underwriting

Sorting applicants into risk classes by expected loss is lawful underwriting, not unfair discrimination.

3. Which party automatically has an insurable interest in an applicant's life?

The applicant in their own life, and close family or business partners

A person has insurable interest in their own life and typically in the lives of close family members or business associates.

4. The primary personal use of life insurance is to:

Replace income and provide financial security for dependents after death

Life insurance primarily protects dependents by replacing lost income and covering financial obligations at death.

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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.