Indiana Life and Health Insurance Practice Final Exam 168 questions
168 Questions Category: Education & Exams
Created by Randall Montgomery
This is the Quizzywhiz Final Exam. It has the look and feel of the state exam that you will be taking. This is not meant to replace prelicensing education. This exam alone will not satisfy the state requirement of 40 hours of prelicensing training. However, this quiz is an excellent review no matter which school you attended or course you completed. These ARE NOT the same questions that you will see on an exam. So, the goal is to not memorize the questions but to understand the concepts. When you are finished with the exam you will see your score Take your time, don't overthink, and good luck!
5 Sample Questions
What remains level in Level Term?
Renewable Term policies guarantee:
Premiums will never increase
Renewability, but only in the absence of severe health problems
Renewability even with severe health problems
The death benefit will increase over time
Which best describes the purpose of insurance?
Transfer of risk
Avoidance of risk
Reduction of risk
Elimination of risk
Which is false concerning insurance?
Insurance deals with inherent risk
Insurance deals with uncertain losses
Insurance deals with speculative risk
Insurance deals with the transference of risk
Which is false of mutual companies?
They may pay dividends to Policyowners
They are also called participating companies
Dividends paid represent a return of premium
They are often referred to an nonparticipating companies