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  2. Texas
  3. General Lines — Life, Accident, Health & HMO
  4. Life Accident and Health Insurance Basics

Free Life Accident and Health Insurance Basics Practice Questions

Texas General Lines — Life, Accident, Health & HMO exam (series InsTX-LAH05) — 30 practice questions.

Subtopics: Insurable interest, Insurable interest own life, Fiduciary duty, 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

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. 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.

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