Kansas Life and Health Insurance Practice Exam
Questions And Correct Verified
Answers with Rationales| Latest Update 2025
1. What is the primary purpose of life insurance?
A. To provide a savings account
B. To provide financial protection to beneficiaries in the event of
the insured's death
C. To fund retirement accounts
D. To reduce tax liability
2. Which type of life insurance provides coverage for a specific period?
A. Whole life insurance
B. Term life insurance
C. Universal life insurance
D. Variable life insurance
3. Which of the following is NOT a characteristic of whole life insurance?
A. Fixed premiums
B. Cash value accumulation
C. Lifetime coverage
D. Temporary protection
4. Which policy component is invested in a separate account in a variable
life policy?
A. Premium
B. Cash value
C. Death benefit
D. Dividend
, 5. In Kansas, what is the "free-look" period for life insurance policies?
A. 10 days
B. 10 days from policy delivery
C. 30 days from application
D. 15 days after issue
Health Insurance Section
6. What is the primary purpose of health insurance?
A. To provide income during retirement
B. To cover medical expenses
C. To pay funeral costs
D. To accumulate interest
7. Which of the following best describes coinsurance?
A. A flat fee paid for each doctor visit
B. A limit on out-of-pocket expenses
C. The percentage of medical costs shared between the insured
and insurer
D. A monthly premium
8. Which of the following is a characteristic of an HMO (Health Maintenance
Organization)?
A. No need for referrals
B. Unlimited provider choice
C. Primary care physician (PCP) required
D. Full out-of-network coverage
9. In Kansas, what is the minimum grace period for individual health
insurance policies?
A. 7 days
B. 15 days
C. 10 days
D. 5 days
Questions And Correct Verified
Answers with Rationales| Latest Update 2025
1. What is the primary purpose of life insurance?
A. To provide a savings account
B. To provide financial protection to beneficiaries in the event of
the insured's death
C. To fund retirement accounts
D. To reduce tax liability
2. Which type of life insurance provides coverage for a specific period?
A. Whole life insurance
B. Term life insurance
C. Universal life insurance
D. Variable life insurance
3. Which of the following is NOT a characteristic of whole life insurance?
A. Fixed premiums
B. Cash value accumulation
C. Lifetime coverage
D. Temporary protection
4. Which policy component is invested in a separate account in a variable
life policy?
A. Premium
B. Cash value
C. Death benefit
D. Dividend
, 5. In Kansas, what is the "free-look" period for life insurance policies?
A. 10 days
B. 10 days from policy delivery
C. 30 days from application
D. 15 days after issue
Health Insurance Section
6. What is the primary purpose of health insurance?
A. To provide income during retirement
B. To cover medical expenses
C. To pay funeral costs
D. To accumulate interest
7. Which of the following best describes coinsurance?
A. A flat fee paid for each doctor visit
B. A limit on out-of-pocket expenses
C. The percentage of medical costs shared between the insured
and insurer
D. A monthly premium
8. Which of the following is a characteristic of an HMO (Health Maintenance
Organization)?
A. No need for referrals
B. Unlimited provider choice
C. Primary care physician (PCP) required
D. Full out-of-network coverage
9. In Kansas, what is the minimum grace period for individual health
insurance policies?
A. 7 days
B. 15 days
C. 10 days
D. 5 days
