2024 LIFE, ACCIDENT AND HEALTH

2024 LIFE, ACCIDENT AND HEALTH

INSURANCE EXAM WITH REAL QUESTIONS

AND CORRECT ANSWERS [GRADED A+] ||LIFE,

ACCIDENT AND HEALTH INSURANCE 2024 -2025

||GUANTEED PASS!!

Events in which the principal has both the chance of winning or losing are classified as...

• Retained risk
• Speculative risk
• Dual Risk
• Pure Risk - ANSWER-B. Speculative risk

Which of the following premium modes would result int he highest annual cost for a life insurance policy?

• Semi-annual
• Annual
• Monthly
• Quarterly - ANSWER-C. Monthly

Who is the owner and who is the beneficiary on a Key Person Life Insurance Policy? 1 / 3

• The Key Person is the owner and beneficiary
• The Key Person is the owner and the employer is the beneficiary
• The employer is the owner and beneficiary
• The employer is the owner and the Key Person is the beneficiary - ANSWER-
• The employer is the owner and beneficiary

Who makes up the Medical Information Bureau?

• Insurers
• Hospitals
• Former insured
• Physicians and paramedics - ANSWER-A. Insurers

Twin brothers are starting a new business. They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. What type of insurance would be the most affordable and still provide a death benefit should one of them die?

• Whole Life policies
• Ordinary Life policies
• Joint Life policy
• Individual Endowment policies - ANSWER-C. Joint Life policy

Which of the following distinguishes a Group Life Policy form an Individual Life Insurance Policy?

• / 3

• Higher underwriting costs
• Reduced adverse selection
• Lower persistency
• Higher premium - ANSWER-B. Reduced adverse selection

An employee quits his job on May 15 and doesn't convert his Group Life policy to an individual policy for 2 weeks. He dies in a freak accident on June 1. Which of the following statements best describes what will happen?

• The insurer will pay nothing because the employee has terminated his group

insurance and hasn't started the individual one

• The insurer will pay the full death benefit from the group policy to the

beneficiary

• The insurer will pay a reduced death benefit to beneficiary
• The insurer will pay the death benefit minus one month premiums - ANSWER-
• The insurer will pay the full death benefit from the group policy to the

beneficiary

The death protection component of Universal Life Insurance is always...

• Variable Life
• Increasing Term
• Annually Renewable Term
• Whole life - ANSWER-C. Annually Renewable Term

A Straight Life policy charges...

• / 3