Insurance Practice Questions

Welcome to your Sample Exam Questions

1) Which of the following risks is insurable?
2) The legal action provision give you the right to file a lawsuit against an insurer, if  no decision is made on your case after _________.
3) According to the incontestable clause, an insurance company has the right to contest the validity of a life insurance contract for ____ years
4) Insurance relies on the principle of
5) The notice of claim provision required the insured to file a claim within ______of the loss covered by the policy.
6) There are two types of medical expense insurance, ___________, and ___________.
7) Buying insurance is one of the most effective ways of transferring risk.
8) Life insurance contracts are indemnity contracts.
9) An insurer that is incorporated in Canada is what kind of an insurer in Florida?
10) What does the beneficiary get if the policyowner commits suicide during the first 2 years of the policy?
11) Under the uniform simultaneous death act, if it cannot be determined who died first, it will always be assumed that
12) A guarantee receipt is given when the applicant pays the initial premium at the time of the application.
13) Who designate the beneficiary of a life insurance policy?
14) In Accidental death and dismemberment insurance, the accidental death benefit is only payable if the death is caused by the accident and occurs within __________ after the accident, if not the benefit will not be paid.
15) In Florida an insurance incontestable clause is _______
16) Life insurance is a ______________.
17) Which of the following legal terms indicates that a life insurance contract contains the enforceable promises of only one party?
18) The affordable care act established a health insurance marketplace. The health plans available in the marketplace are classified into five categories. The first four categories are called the ________
19) Accidental bodily injury provision require that the cause of the injury must have been unexpected and accidental.
20) An insurer must make payment within _____ after receiving notification and proof of loss.

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