Insurance Practice Questions

Welcome to your Sample Exam Questions

1) The ________________makes insurance state regulated.
2) Under a ______________________, the insurance can never be cancelled and its premiums rates will never increase.
3) An insurance ________ represent the client while an insurance __________represents the company.
4) In a ___________________, the insurance company can increase premiums or cancel the insurance at any time by simply giving written notice to the insured.
5) A warranty is a statement made by the applicant that is guaranteed to be true
6) The ______________________ protects your privacy by requiring the company to obtain your consent and it also protects you against the circulation of inaccurate information.
7) 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.
8) An insurer that is incorporated in Canada is what kind of an insurer in Florida?
9) The ________________period is a time immediately following a disability during which benefits are not payable.
10) The ______________requires you to submit the paperwork explaining the extent of the loss to the insurer within 90 days after the date of loss.
11) A ______ plan is for employees of non-profit organizations.
12) There are two types of medical expense insurance, ___________, and ___________.
13) 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 ________
14) A ____________ is a stated initial dollar amount that the individual insured is required to pay before insurance benefits are paid.
15) What type of beneficiary designation is not permanent and can be changed at anytime by the insured.
16) Noncontributory plans require 100 percent participation by eligible members.
17) There are 3 types of agent authority: Express, implied, and _________.
18) The ______________prevents an insurance company from denying payment of a death claim after a specified period of time.
19) This ERISA act assesses a plan based on 5 basic principles that are participation, coverage, vesting, funding and contributions
20) All of the following are elements of insurable risk except

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