Free Life Accident and Health Insurance Basics Practice Questions
West Virginia Life, Accident & Health exam — 123 practice questions.
Subtopics: Premium mode, Cash value, Parties to the contract, Group life conversion, Key person insurance, Disclosure rule scope, Policy summary, Policy summary title, Policy data requests, Employee group size, Noncontributory group life, Individual selection, Labor union groups, Contributory participation, Trustee groups, Debtor group benefit, Conversion form, Conversion amount and rate, Conversion on policy termination, Group ownership assignment, Insurable interest - family, Insurable interest - business, Insurable interest - charities, Recovery of benefits, Life line scope, Life exam format, A&S line scope, A&H exam format, Minimum standards categories, Direct response product, 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, 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. Choosing to pay a life insurance premium monthly rather than annually generally results in:
A slightly higher total annual cost
More frequent premium modes usually carry added administrative charges, raising the total annual cost compared with paying annually.
2. In a whole life policy, the cash value generally:
Grows over time and can be borrowed or surrendered
Cash value accumulates over time and can be accessed through policy loans or surrender, but it is part of, not in addition to, the death benefit.
3. In a life insurance contract, the person who owns the policy and pays the premiums is the:
Policyowner
The policyowner holds the contractual rights and pays the premiums, and need not be the same person as the insured.
4. Under West Virginia group life law, an employee whose group coverage ends because employment terminates may convert to an individual policy without evidence of insurability by applying and paying the first premium within:
31 days after termination
The conversion privilege requires application and first premium within thirty-one days after termination; the new policy may be any form the insurer customarily issues except term.
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.
