Free Life Accident and Health Insurance Basics Practice Questions
Iowa Life, Accident & Health exam — 102 practice questions.
Subtopics: Warranty, Material misrepresentation, Field underwriting, Application, Key person interest, Medical Information Bureau, Fair Credit Reporting Act, Per stirpes, Mortality table, Insurable interest, 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, 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, Application signatures, Third-party consent, Application changes, Incomplete application, Premium receipt, Risk classification, Substandard rating, Underwriting sources, Accelerated underwriting, Genetic information, STOLI, Needs analysis, Social Security, A&H types of losses, AD&D, Limited policies, Workers compensation, Subrogation, Health underwriting, Dependent coverage, Newborn coverage
Read the Life Accident and Health Insurance Basics study guide
Sample questions & answers
1. A statement guaranteed to be true in every respect, the falsity of which can void the contract, is a:
Warranty
A warranty is a statement guaranteed to be literally true, and its breach can void the contract.
2. A false statement on an application significant enough to affect the insurer's underwriting decision is a:
Material misrepresentation
A material misrepresentation is a false statement important enough to influence the insurer's decision to issue coverage.
3. When a producer completes the application accurately and observes the applicant's condition, the producer is performing:
Field underwriting
Field underwriting is the producer's role in gathering accurate application information and observing the applicant.
4. The primary source of information an insurer uses to decide whether to issue a life or health policy is the:
Completed application
The application is the principal source of information used by the insurer in underwriting the risk.
All Life, Accident & Health topics
Practice: Life Accident and Health Insurance Basics
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.
