Insurance Practice Questions

Welcome to your Sample Exam Questions

1) Group insurance plans that require employees to pay a portion of the premium are called
2) The ________ period is the phase an investor adds money to an annuity.
3) All of the following are elements of insurable risk except
4) A ____________ is a stated initial dollar amount that the individual insured is required to pay before insurance benefits are paid.
5) Life insurance premium rates are calculated based on 3 main factors_________________________.
6) Under the uniform simultaneous death act, if it cannot be determined who died first, it will always be assumed that
7) The Physical Exam and Autopsy provisions gives the insurer the right to  examine the insured and performed an autopsy only once.
8) In Accidental death and dismemberment insurance, the policy provides two types of benefits, __________ and ___________.
9) The ______________requires you to submit the paperwork explaining the extent of the loss to the insurer within 90 days after the date of loss.
10) The policy documents, attached riders and the application is a provision called the ___________
11) The legal action provision give you the right to file a lawsuit against an insurer, if  no decision is made on your case after _________.
12) An automatic premium loan option is ____________________
13) Licensees have ______days to notify the Department of Financial Services of a address change.
14) The ________________period is a time immediately following a disability during which benefits are not payable.
15) All of the following are primary health insurance premium factors except:
16) Life insurance contracts are indemnity contracts.
17) Insurance is primarily sold through licensed producers who represent companies’ products and services to the public.
18) A guarantee receipt is given when the applicant pays the initial premium at the time of the application.
19) The ______________________ protects your privacy by requiring the company to obtain your consent and it also protects you against the circulation of inaccurate information.
20) What type of beneficiary designation is not permanent and can be changed at anytime by the insured.

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