Free Life Accident and Health Insurance Basics Practice Questions
Virginia Life, Accident & Health exam (series 11-01) — 117 practice questions.
Subtopics: Insurable interest, Consideration, Conditional receipt, Producer role, Warranty vs representation, Risk classes, Buyer's guide, Policy summary, Employer insurable interest, Buy-sell insurable interest, Insured consent, Spousal policies, Minors buying insurance, HIV testing consent, HIV underwriting, HIV test cost, Advertising terms, Vanishing premium, No medical exam ads, Agent-created ads, Advertising records, Financial planner titles, Renewability, 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. For a life policy on another person the applicant must have insurable interest:
When the contract is made
Virginia requires insurable interest at the time the contract was made; it need not exist at death.
2. The applicant's consideration in an insurance contract is:
The premium and the statements in the application
The applicant's consideration is the initial premium and the statements in the application; the insurer's consideration is its promise to pay.
3. A conditional receipt given with a life application generally:
Coverage from application if found insurable as applied
A conditional (insurability-type) receipt makes coverage effective as of the application date if the applicant proves insurable as applied for.
4. In taking an application the producer functions as a:
Field underwriter who gathers accurate information
The agent acts as a field underwriter, gathering accurate application information and screening risks before submission.
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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.
