{"id":114941,"date":"2023-08-23T10:38:35","date_gmt":"2023-08-23T10:38:35","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=114941"},"modified":"2023-08-23T10:38:38","modified_gmt":"2023-08-23T10:38:38","slug":"life-health-and-accident-insurance-exam-questions-with-100-verified-answers","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/23\/life-health-and-accident-insurance-exam-questions-with-100-verified-answers\/","title":{"rendered":"LIFE, HEALTH AND ACCIDENT INSURANCE EXAM. QUESTIONS WITH 100% VERIFIED ANSWERS."},"content":{"rendered":"\n<p>Life, Accident and Health<br>Insurance Exam<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>If only one party to an insurance contract has made a legally enforceable promise,<br>what kind of contract is it?<br>A. Conditional<br>B. A legal, but unethical contract<br>C. Unilateral<br>D. Adhesion<\/li>\n\n\n\n<li>Which services are associated with Standard &amp; Poor&#8217;s and AM Best?<br>A. Investigating violation of The Fair Credit Reporting Act<br>B. Providing employment histories for investigative consumer reports<br>C. Storing medical information collected by insurance companies<br>D. Rating the financial strength of insurance companies<\/li>\n\n\n\n<li>Which insurance principle states that if a policy allows for greater compensation than<br>the financial loss incurred, the insured may only receive benefits for the amount lost?<br>A. Consideration<br>B. Indemnity<br>C. Stop-loss<br>D. Limited Benefits<\/li>\n\n\n\n<li>If an insurer meets the state&#8217;s finical requirements and is approved to transact<br>business in the state, it is considered to be..<br>A. Domestic<br>B. Authorized<br>C. Qualified<br>D. Certified<\/li>\n\n\n\n<li>Which of the following is an example of apparent authority?<br>A. The agent puts up a sign with the logo of the insurance company without express<\/li>\n<\/ol>\n\n\n\n<p>permission<br>B. The agent accepts a premium payment after the end of the grace period<br>C. The agent accepts a premium during the grace period<br>D. The agent has business cards and stationery printed<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"6\">\n<li>Which statement regarding insurable risks is NOT correct?<br>A. Insurance cannot be mandatory<br>B. The insurable risk needs to be statistically predictable<br>C. Losses must be measurable<br>D. Insureds cannot be randomly selected<\/li>\n\n\n\n<li>All of the following are examples of risk retention EXCEPT\u2026<br>A. Deductibles<br>B. Copayments<br>C. Self-insurance<br>D. Premiums<\/li>\n\n\n\n<li>Because an insurance policy is a legal contract, it must conform to the laws<br>governing contracts which require all of the following elements EXCEPT\u2026<br>A. Offer and acceptance<br>B. Conditions<br>C. Legal purpose<br>D. Consideration<\/li>\n\n\n\n<li>In insurance transactions, fiduciary responsibility means\u2026<br>A. Commingling premiums with agent&#8217;s personal funds<br>B. Handling insurer&#8217;s funds in a trust capacity<br>C. Maintaining a good credit record<br>D. Being liable with respect to payment of claims<\/li>\n\n\n\n<li>Which of the following types of insurers issues participating policies?<br>A. A fraternal insurer<br>B. A stock insurer<\/li>\n<\/ol>\n\n\n\n<p>C. A mutual insurer<br>D. An authorized insurer<\/p>\n\n\n\n<ol class=\"wp-block-list\" start=\"11\">\n<li>Which of the following is the foundation of the statistical prediction of loss upon<br>which rates for insurance are calculated?<br>A. Law of averages<br>B. Law of large numbers<br>C. Adverse selection<br>D. Field underwriting<\/li>\n\n\n\n<li>The authority granted to an agent through the agent&#8217; contract is referred to as\u2026<br>A. Apparent authority<br>B. Implied authority<br>C. Absolute authority<br>D. Express authority<\/li>\n\n\n\n<li>Which of the following is NOT consideration not he part of an insured?<br>A. Premium payment<br>B. Promise to submit timely claims<br>C. Representations on the application<br>D. Submitting a Statement of Good Health<\/li>\n\n\n\n<li>Events or conditions that increase the chances of an insured loss occurring are<br>referred to as\u2026<br>A. Risks<br>B. Perils<br>C. Hazards<br>D. Exposures<\/li>\n\n\n\n<li>Events in which the principal has both the chance of winning or losing are classified<br>as\u2026<br>A. Retained risk<br>B. Speculative risk<br><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Life, Accident and HealthInsurance Exam permissionB. The agent accepts a premium payment after the end of the grace periodC. The agent accepts a premium during the grace periodD. The agent has business cards and stationery printed C. A mutual insurerD. An authorized insurer<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-114941","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/114941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=114941"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/114941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=114941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=114941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=114941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}