Free General Insurance Concepts Practice Questions
Washington Life, Accident & Health exam — 65 practice questions.
Subtopics: Domestic insurer, Foreign insurer, Alien insurer, Mutual insurer, Stock insurer, Law of agency, Reinsurance, Producer ethics, Exposure, 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, Reciprocal insurer, Estoppel, Insurable interest timing, Competent parties, Warranties, Material misrepresentation, Waiver, Parol evidence, Implied authority, 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. From Washington's viewpoint, an insurer formed under Washington law is a:
Domestic insurer
A domestic insurer is one organized under the laws of the state in question, here Washington.
2. An insurer organized in another U.S. state but operating in Washington is considered a:
Foreign insurer
A foreign insurer is one formed under the laws of another U.S. state relative to Washington.
3. An insurer organized outside the United States that operates in Washington is a:
Alien insurer
An alien insurer is organized under the laws of a country other than the United States.
4. A mutual insurer is distinguished by being:
Owned by its policyholders
A mutual insurer is owned by its policyholders, who may receive dividends, rather than by stockholders.
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.
