Insurance Practice Questions

Welcome to your Sample Exam Questions

1) A guarantee receipt is given when the applicant pays the initial premium at the time of the application.
2) ______________life insurance is pure insurance with no cash value and the premium increases over the insured’s lifetime
3) Insurance is primarily sold through licensed producers who represent companies’ products and services to the public.
4) 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.
5) Accidental bodily injury provision require that the cause of the injury must have been unexpected and accidental.
6) An insurer that is incorporated in Canada is what kind of an insurer in Florida?
7) All of the following are mandatory insurance policy provisions Except:
8) Under the uniform simultaneous death act, if it cannot be determined who died first, it will always be assumed that
9) A ____________ is a stated initial dollar amount that the individual insured is required to pay before insurance benefits are paid.
10) When receiving a life insurance proceeds, under the ______________ the company pays the beneficiary equal amounts of money at regular intervals over a specified period of years.
11) ________________ nursing care is associated with stable conditions that require daily supervision, but not around the clock care.
12) The notice of claim provision required the insured to file a claim within ______of the loss covered by the policy.
13) Buying insurance is one of the most effective ways of transferring risk.
14) Under a ______________________, the insurance can never be cancelled and its premiums rates will never increase.
15) According to the incontestable clause, an insurance company has the right to contest the validity of a life insurance contract for ____ years
16) _________________individual tendencies that increase risk but they arise from an attitude of indifference to loss.
17) 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.
18) A ______ plan is for employees of non-profit organizations.
19) The ______________prevents an insurance company from denying payment of a death claim after a specified period of time.
20) In Florida an insurance incontestable clause is _______

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