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Free General Insurance Concepts Practice Questions

Tennessee Life, Accident & Health exam — 33 practice questions.

Subtopics: Implied authority, Estoppel, Concealment, Material fact, Good faith, Handling risk, Insurable risk, Hazards, Definitions, Insurer classifications, Adverse selection, Elements of a contract, Legal interpretations, Law of large numbers, Indemnity, Aleatory contract, Contract of adhesion, Utmost good faith, Unilateral contract, Conditional contract, Express authority, Apparent authority, Fiduciary duty, Reinsurance, Reciprocal insurer, Insurable interest timing

Read the General Insurance Concepts study guide

Sample questions & answers

1. Authority that is not written but is assumed necessary to carry out a producer's express authority is:

Implied authority

Implied authority is the unwritten authority a producer reasonably needs to perform duties granted by express authority.

2. When an insurer is prevented from denying a fact because the insured reasonably relied on the insurer's prior conduct, this is:

Estoppel

Estoppel bars a party from asserting a right when another has reasonably relied on that party's prior conduct or representation.

3. Failing to disclose a known material fact during the application process is:

Concealment

Concealment is the failure to disclose a known material fact that the insurer would need to evaluate the risk.

4. Information that would affect the insurer's underwriting or rating decision is considered:

A material fact

A material fact is information that would influence the insurer's decision to accept, decline, or rate the risk.

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Practice: General Insurance Concepts

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 Pennsylvania Insurance Department and the exam administrator before relying on it.