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Free Life Accident and Health Insurance Basics Practice Questions

Virginia Life, Accident & Health exam — 64 practice questions.

Subtopics: Insurable interest, Consideration, Conditional receipt, Producer role, Warranty vs representation, Risk classes, Buyer's guide, Policy summary, Replacement disclosure, 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, 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 a life policy on another person the applicant must have insurable interest:

At the time of application

For life insurance, insurable interest must exist when the policy is applied for/issued.

2. The applicant's consideration in an insurance contract is:

The premium and statements in the application

The applicant's consideration is payment of premium plus the representations made in the application.

3. A conditional receipt given with a life application generally:

Provides coverage only if the applicant is found insurable as applied

A conditional receipt provides interim coverage subject to the applicant meeting the insurer's underwriting/insurability conditions.

4. In taking an application the producer functions as a:

Field underwriter gathering accurate information

The producer acts as a field underwriter, gathering accurate information for the insurer's underwriting.

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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.