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Free Life Accident and Health Insurance Basics Practice Questions

Texas General Lines — Life, Accident, Health & HMO exam (series InsTX-LAH05) — 61 practice questions.

Subtopics: Insurable interest, Insurable interest own life, Fiduciary duty, Representations, Material misrepresentation, Consideration, 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. For life insurance in Texas, insurable interest must exist:

At the time of application

For life insurance, insurable interest must exist at the inception (application) of the policy.

2. A person applying for insurance on their own life in Texas:

Always has an insurable interest in their own life

A person is always considered to have an insurable interest in their own life.

3. Premiums a producer collects on behalf of an insurer must be:

Held in a fiduciary capacity and not commingled

Premium funds are held in trust and may not be commingled with the producer's personal funds.

4. Statements an applicant believes to be true to the best of their knowledge are:

Representations

Representations are statements believed true to the best of the applicant's knowledge.

All General Lines — Life, Accident, Health & HMO 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.