Insurance Practice Questions

Welcome to your Sample Exam Questions

1) All of the following are elements of insurable risk except
2) A ______ plan is for employees of non-profit organizations.
3) This is a qualified retirement plan designed for self-employed business owners?
4) Lloyd's of London is not an insurer
5) The maximum fixed policy loan interest that an insurance company can charge in Florida is _______
6) Noncontributory plans require 100 percent participation by eligible members.
7) Insurance policy replacement should be all of the following Except
8) ________________ nursing care is associated with stable conditions that require daily supervision, but not around the clock care.
9) 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.
10) A guarantee receipt is given when the applicant pays the initial premium at the time of the application.
11) All of the following are beneficiary designations Except
12) When receiving a life insurance proceeds, under a _________________ the policy proceeds plus interest rates are used to pay out a specified amount of income at regular intervals for as long as the proceeds last.
13) ______________life insurance is pure insurance with no cash value and the premium increases over the insured’s lifetime
14) A traditional IRA can be open by anyone under the age of ________.
15) The ________________makes insurance state regulated.
16) Insurance relies on the principle of
17) The ________ period is the phase an investor adds money to an annuity.
18) The ______________prevents an insurance company from denying payment of a death claim after a specified period of time.
19) Buying insurance is one of the most effective ways of transferring risk.
20) An insurance ________ represent the client while an insurance __________represents the company.

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