Free Life Accident and Health Insurance Basics Practice Questions
Maine Life, Accident & Health exam (series 12-ME-01) — 109 practice questions.
Subtopics: Mortality table, Premium factors, Participating policy, Mutual insurer, Key person, Buy-sell funding, Medical Information Bureau, Warranty, Insurable interest, Consent of insured, Application changes, Application copy, Representations, Personal uses, Determining amount, Business uses, Viatical settlements, Classes of policies, 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, 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. Life insurers use a mortality table primarily to:
Estimate the probability of death at each age for pricing
A mortality table shows expected deaths by age and is a key input in pricing life insurance.
2. The three primary factors used to determine a life insurance premium are mortality, expenses, and:
Interest earned on invested premiums
Life premiums are based on mortality, expense loading, and the interest the insurer expects to earn on reserves.
3. What distinguishes a participating life insurance policy?
May pay policy dividends to the owner
A participating policy may return divisible surplus to owners as policy dividends.
4. A mutual insurance company is characterized by being:
Owned by its policyholders
A mutual insurer is owned by its policyholders rather than by stockholders.
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.
