Free Life Accident and Health Insurance Basics Practice Questions
South Carolina Life, Accident & Health exam — 115 practice questions.
Subtopics: Risk retention, Peril, Hazard, Express authority, Application accuracy, Gross premium, Insurable interest timing, Solicitation, Underwriting sources, Creditor protection, Charity insurable interest, Living organ donors, Replacement defined, Replacement statement, Replacement sales material, Replacing insurer duties, Replacement right to return, Replacement violations, Financed purchase, Buyer's Guide, False statements, Altering applications, Insurable interest, 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, Controlling adverse selection, Premature death, Final expense insurance, Estate liquidity, Charitable uses, Survivorship policy, Juvenile insurance, Life settlement, Creditor insurable interest, Human life value, Application signatures, Third-party consent, Application changes, Incomplete application, Premium receipt, Risk classification, Substandard rating, Accelerated underwriting, Genetic information, STOLI, Needs analysis, Social Security, A&H types of losses, AD&D, Limited policies, Workers compensation, Subrogation, Health underwriting, Dependent coverage, Newborn coverage
Read the Life Accident and Health Insurance Basics study guide
Sample questions & answers
1. Deciding to keep a small, predictable loss rather than insure it is an example of:
Risk retention
Choosing to absorb a manageable loss internally rather than transferring it is risk retention.
2. In insurance terms, a peril is:
The cause of a loss, such as fire or illness
A peril is the direct cause of a loss, such as fire, accident, or illness.
3. A hazard is best defined as:
A condition increasing loss chance or size
A hazard is a condition that increases the chance that a peril will occur or worsens the severity of a loss.
4. The authority an insurer explicitly grants a producer in the agency contract is:
Express authority
Express authority is the authority specifically granted to the producer in the written agency agreement.
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Practice: Life Accident and Health Insurance Basics
Answer choices are shuffled every time, and every question comes with an explanation.
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.
