Free General Insurance Concepts Practice Questions
Arizona Life, Accident & Health exam (series 13-33) — 60 practice questions.
Subtopics: Insurable interest purpose, Warranty, Concealment, Adhesion, 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, Estoppel, Insurable interest timing, Competent parties, Warranties, Material misrepresentation, Waiver, Parol evidence, Implied authority, Law of agency, Pure risk, Speculative risk, Risk sharing, Risk reduction, Fraternal benefit society, Insurer financial strength, Producers, Contract characteristics
Read the General Insurance Concepts study guide
Sample questions & answers
1. Requiring an insurable interest helps prevent:
Wagering on a stranger's life
A.R.S. 20-443.02 describes STOLI as violating the insurable interest law and the prohibition against wagering on life.
2. A warranty differs from a representation because a warranty is:
Guaranteed to be true
Arizona life policies deem application statements representations, not warranties, absent fraud (A.R.S. 20-1205).
3. Concealment in insurance is:
Failing to disclose a known material fact
Concealment of material facts can void coverage.
4. An adhesion contract, like most insurance policies, is one in which:
One party drafts and the other accepts or rejects
Ambiguities in adhesion contracts are construed against the insurer.
All Life, Accident & Health topics
Practice: General Insurance Concepts
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.
