Life and Health Insurance Practice Test 1

Which of the following is an example of a speculative risk?

An insurable risk is one that:

Insurance contracts require that a condition must exist in the future before a claim can be paid. For this reason, insurance contracts are:

Which of these life insurance plan types offers guaranteed premiums throughout the life of the policy?

One major advantage of term life insurance is that it typically:

In order to purchase life insurance on another person, the purchaser must prove:

In the first two years following the effective date of a life insurance policy, the insurer has the right to review the insurance application and deny payment of death benefits if the information provided is inaccurate or incomplete.

This period of time is called the:

Life insurance exclusions are intended to outline circumstances of death that could result in:

Which of the following is MOST important for an insurance advisor to consider when talking with clients about beneficiary designations for their life insurance plans?

Currently, the U.S. Department of the Treasury Federal Insurance Office (FIO) has the authority to monitor: