Free Life Accident and Health Insurance Basics Practice Questions
North Carolina Life, Accident & Health exam — 126 practice questions.
Subtopics: Field underwriting, Conditional receipt, Underwriting purpose, Stock vs mutual, Premium mode, Producer ethics, Insurable interest health, Agent authority, Beneficiary types, Soliciting agent, Employer insurable interest, Partner insurable interest, Charity insurable interest, Minors as owners, Group life eligibility, Association group life, Noncontributory group life, Group life conversion, Group conversion form, Group policy termination, Death in conversion period, Group life facility of payment, Group life representations, Group life portability, Cost comparison, Cost indexes, Form approval, Family policies, Application certification, Application alterations, Nonconforming policies, Age limit and premium, Material misstatements, 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, 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, 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. When taking a life or health application, the producer practices field underwriting by:
Recording accurate information about the applicant
Field underwriting is the producer's role in gathering accurate applicant information and completing the application so the insurer can properly evaluate the risk.
2. A conditional receipt given when an application and initial premium are submitted provides:
Coverage if the applicant proves insurable
A conditional receipt may provide coverage as of the application or medical exam date if the applicant ultimately proves insurable under the insurer's standards.
3. The main purpose of underwriting in life and health insurance is to:
Classify risks fairly and set appropriate premiums
Underwriting evaluates and classifies risks so that premiums are appropriate to the risk, protecting the insurer's solvency and treating insureds equitably.
4. A mutual insurance company is owned by:
Its policyholders
A mutual insurer is owned by its policyholders, who may receive dividends, whereas a stock insurer is owned by shareholders.
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.
