Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
The tendency of a person diagnosed with a serious illness to try to buy life or health
insurance is known as:
-:- adverse selection
From an insurance perspective, underwriting is best defined as:
-:- the process of determining if an applicant is an insurable risk
A person who refuses to eng...
Life Insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
The tendency of a person diagnosed with a serious illness to try to buy life or health
insurance is known as:
✓ -:- adverse selection
From an insurance perspective, underwriting is best defined as:
✓ -:- the process of determining if an applicant is an insurable risk
A person who refuses to engage is risky activities like rock climbing for fear of injury or
death is demonstrating which risk management technique?
✓ -:- risk avoidance
All the following statements regarding perils and hazards are correct EXCEPT:
✓ -:- Smoking cigarettes is an example of a peril.
The Excalibur Insurance Company, domiciled in Iowa, transacts business legally in
Tim had paid only four premiums totaling $1000 on his health insurance policy when he was
diagnosed with cancer. The insurance company paid more than $100,000 to cover the
medical bills for his treatment during the next year. This situation demonstrates which of
the following characteristics of insurance contracts?
✓ -:- They are aleatory.
Ambiguities in an insurance contract are most often interpreted in favor of the policyowner
because insurance contracts are:
✓ -:- contracts of adhesion
The fact that ownership of a health insurance contract cannot be transferred to another
party makes it what type of contract?
✓ -:- personal
Which of the following disciplinary measures is not within the powers of the Insurance
Commissioner?
✓ -:- Imprisonment
4|Page | Grade A+| 2024/2025
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