Practice test

Insurance Practice Exam 3

Free 25-question insurance exam simulator mixing life and health, property and casualty, and state regulation. Foundations level with full answer explanations.

These questions are for study practice only and are not official exam questions.

Question 1

1

Which of these is a permanent life policy where the cash value and death benefit can vary based on investment subaccounts chosen by the owner?

Question 2

2

The HO-5 comprehensive form covers both the dwelling and personal property on what basis?

Question 3

3

The producer's obligation to forward collected premiums to the insurer and not commingle them with personal funds reflects the producer's role as a:

Question 4

4

What does the waiver of premium rider do if the insured becomes totally disabled?

Question 5

5

Dwelling policies (the DP forms) differ from homeowners policies mainly because they:

Question 6

6

The state guaranty association exists primarily to:

Question 7

7

In a participating whole life policy, policy dividends are best described as:

Question 8

8

On an auto policy, medical payments coverage pays for:

Question 9

9

Making maliciously false statements about another insurer or producer's financial condition is the prohibited practice of:

Question 10

10

An applicant for life insurance must have what relationship to the insured at the time of application?

Question 11

11

Loss of use (Coverage D) on a homeowners policy pays for:

Question 12

12

An insurer organized under the laws of a country other than the United States is a/an:

Question 13

13

Which provision allows a lapsed life policy to be put back in force, subject to evidence of insurability and back premiums?

Question 14

14

A deductible on a property policy primarily serves to:

Question 15

15

A licensed producer who fails to remit a client's premium to the insurer and instead keeps it has likely committed:

Question 16

16

A single-premium deferred annuity is funded by:

Question 17

17

Which standard exclusion typically applies to a homeowners policy?

Question 18

18

The clause in which the applicant attests that statements are true to the best of their knowledge, rather than guaranteed, treats those statements as:

Question 19

19

The automatic premium loan provision in a whole life policy:

Question 20

20

Personal liability coverage (Coverage E) on a homeowners policy responds when:

Question 21

21

The NAIC is best described as:

Question 22

22

Credit life insurance is typically used to:

Question 23

23

On a homeowners policy, Coverage B (other structures) typically insures:

Question 24

24

A producer who solicits insurance without a valid license in that state is engaging in:

Question 25

25

Which health policy provision lists the conditions or losses the policy will not cover?

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