Life & Health Insurance
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Latest content Life & Health Insurance
Life and Health Insurance Review Exam|Latest Update Graded A+ 
#3. An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake after the contestable period had expired. The insurance company will take which of the following actions regarding any claim that has been issued? 
 
a) Adjust the claim benefit to reflect the insured's true age 
b) Deny any claims and cancel the policy 
c) Deny paying a claim based on misrepresentati...
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Life and Health Insurance Review Exam|Latest Update Graded A+ 
#3. An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake after the contestable period had expired. The insurance company will take which of the following actions regarding any claim that has been issued? 
 
a) Adjust the claim benefit to reflect the insured's true age 
b) Deny any claims and cancel the policy 
c) Deny paying a claim based on misrepresentati...
Texas Life and Health Insurance Exam Questions And Answers Graded A+ 
At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? 
Upon completion of the application 
 
 
Who elects the governing body of a mutual insurance company? 
policyholders 
 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the 
Fair Credit Reporting Act 
 
 
What type of reinsurance contract i...
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Texas Life and Health Insurance Exam Questions And Answers Graded A+ 
At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? 
Upon completion of the application 
 
 
Who elects the governing body of a mutual insurance company? 
policyholders 
 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the 
Fair Credit Reporting Act 
 
 
What type of reinsurance contract i...
USAA P&C Insurance Adjuster Exam Questions With Verified Solutions 
Perils 
Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) 
 
 
Hazard 
Condition that create or increases the chance or loss or contributes to the loss 
 
 
Physical Hazard 
Visible ( operational features of a risk) 
 
 
Moral Hazard 
Intentional dishonesty or illegal actions of a person (arson) 
 
 
Morale Hazard 
Carelessness or indifference ( attitude). Takes additional risk...
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Life & Health Insurance•Life & Health Insurance
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Life & Health Insurance Exam Complete Exam Bundle Graded A+!!!• By LectAziim
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USAA P&C Insurance Adjuster Exam Questions With Verified Solutions 
Perils 
Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) 
 
 
Hazard 
Condition that create or increases the chance or loss or contributes to the loss 
 
 
Physical Hazard 
Visible ( operational features of a risk) 
 
 
Moral Hazard 
Intentional dishonesty or illegal actions of a person (arson) 
 
 
Morale Hazard 
Carelessness or indifference ( attitude). Takes additional risk...
Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated 
 
Insurance 
transfer of risk 
Speculative risk 
has a possibility of both loss and gain 
Pure risk 
only has a possibility of loss (no gain) 
Exposure 
risks for which an insurance company would be liable 
 
expressed in units 
Peril 
cause of a loss 
Hazard 
an increase in the chance of loss 
Moral hazard 
arise from people's character (faking a loss) 
Morale hazard 
state of mind or careless attitude (accidentally lea...
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Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated 
 
Insurance 
transfer of risk 
Speculative risk 
has a possibility of both loss and gain 
Pure risk 
only has a possibility of loss (no gain) 
Exposure 
risks for which an insurance company would be liable 
 
expressed in units 
Peril 
cause of a loss 
Hazard 
an increase in the chance of loss 
Moral hazard 
arise from people's character (faking a loss) 
Morale hazard 
state of mind or careless attitude (accidentally lea...
Life & Health Insurance Exam (Arkansas). 218 Questions with 100% Correct Answers | Verified | Updated 2024. 
 
Reserves 
Funds held by the company to fullfull future claims. Funds are set by the state department of insurance. 
Multi-line Insurer 
An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) 
Stock Companies 
Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. 
nonpartici...
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Life & Health Insurance•Life & Health Insurance
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Package deal for Arkansas Health Insurance Exam Questions With 100% Correct Answers | Verified | Updated 2024• By ACADEMICAIDSTORE
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Life & Health Insurance Exam (Arkansas). 218 Questions with 100% Correct Answers | Verified | Updated 2024. 
 
Reserves 
Funds held by the company to fullfull future claims. Funds are set by the state department of insurance. 
Multi-line Insurer 
An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) 
Stock Companies 
Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. 
nonpartici...
Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated 
 
Insurance 
transfer of risk 
Speculative risk 
has a possibility of both loss and gain 
Pure risk 
only has a possibility of loss (no gain) 
Exposure 
risks for which an insurance company would be liable 
 
expressed in units 
Peril 
cause of a loss 
Hazard 
an increase in the chance of loss 
Moral hazard 
arise from people's character (faking a loss) 
Morale hazard 
state of mind or careless attitude (accidentally lea...
- Exam (elaborations)
- • 32 pages's •
-
Life & Health Insurance•Life & Health Insurance
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Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated 
 
Insurance 
transfer of risk 
Speculative risk 
has a possibility of both loss and gain 
Pure risk 
only has a possibility of loss (no gain) 
Exposure 
risks for which an insurance company would be liable 
 
expressed in units 
Peril 
cause of a loss 
Hazard 
an increase in the chance of loss 
Moral hazard 
arise from people's character (faking a loss) 
Morale hazard 
state of mind or careless attitude (accidentally lea...