Insurance Practice Questions

Welcome to your Sample Exam Questions

1) Who designate the beneficiary of a life insurance policy?
2) If an insured dies during the grace period and the premium has not been paid, the policy benefit is payable.
3) _________________individual tendencies that increase risk but they arise from an attitude of indifference to loss.
4) The ______________requires you to submit the paperwork explaining the extent of the loss to the insurer within 90 days after the date of loss.
5) Life insurance contracts are indemnity contracts.
6) Under a surgical schedule approach, the policy will list the types of operations covered, and their assigned dollar amount limit.
7) Under the Consolidated Omnibus Budget Reconciliation Act of 1985 (or COBRA), employers with _____ or more employees, must extend health insurance coverage up to ____months to terminated employees and their families.
8) 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.
9) A guarantee receipt is given when the applicant pays the initial premium at the time of the application.
10) Noncontributory plans require 100 percent participation by eligible members.
11) When receiving a life insurance proceed, under the ____________, the insurance company holds the death benefit proceeds for a specific period of time and at regular intervals pays the beneficiary a guaranteed rate of interest on the proceeds.
12) Which of the following risks is insurable?
13) All of the following are primary health insurance premium factors except:
14) Lloyd's of London is not an insurer
15) An insurer that is incorporated in Canada is what kind of an insurer in Florida?
16) The ________________period is a time immediately following a disability during which benefits are not payable.
17) When a beneficiary is receiving a life insurance proceeds, the money can be paid out through 1 of 5 options available. The options are lump-sum, interest only, fixed period, fixed amount and life income.
18) The legal action provision give you the right to file a lawsuit against an insurer, if  no decision is made on your case after _________.
19) The ________ period is the phase an investor adds money to an annuity.
20) All of the following are elements of insurable risk except

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