ACCIDENT AND HEALTH INSURANCE
AGENT ACTUAL TEST PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉A written instrument in which a contract of insurance is set forth
is the?
An agreement between the insurer and the insured, the person who
is covered by the insurance, is established in a legal document
referred to as a contract of insurance Answer: policy
◉Loss is? Answer: defined as reduction in the value of an asset
◉To be paid for a loss the insured must notify the insurer by?
Answer: making a claim
◉What is an insurable interest?
It must be based on? Answer: An interest in the life of an individual
by which there will be a loss if the insured dies.
Either a family relationship or on economic factors Must exist at the
tie of application, not necessarily at the time of loss. If you would
benefit if a person continues to live, you have an insurable interest in
that person.
,◉To "rescind" a policy means to? Answer: void or cancel the policy
flat by returning all premiums to the insured. It is as if the policy
never existed and no coverage applies
◉What is fraud? Answer: An intentional and fraudulent omission on
the part of an insured that allows the insurer to rescind the contract
◉What is perjury? Answer: A false representation on a signed claim
form
◉Concealment is? Answer: the neglect to communicate that which a
party knows and ought to communicate
◉Does concealment, whether intentional or unintentional, entitle
the injured party to rescind the insurance? Answer: Yes
◉What is an express warranty? Answer: A statement in a policy of a
matter relating to the person or thing insured, or to the risk, as a fact
◉A warranty may relate to the past, the present, or the future? True
or False Answer: True
, ◉Does a violation of a material warranty on the part of either party
entitles the other other to rescind the insurance contract? Yes/No
Answer: Yes
◉How is materiality determined? Answer: by the probable
influence of the facts upon the underwriter in forming their opinion
of the disadvantages of the proposed contract
◉Is a particular form of words necessary to create a warranty?
Yes/No Answer: No
◉A representation may be? Answer: Oral or written and be made at
the time of, or before the issuance of the policy
◉A ________ may be altered or withdrawn before the policy is issued,
but not afterwards. Answer: representation
◉The injured party is entitled to rescind the contract if? Answer: a
representation is false in a material point
◉Is the financial rating of the insurer required to be specified in the
insurance policy? Answer: No
AGENT ACTUAL TEST PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉A written instrument in which a contract of insurance is set forth
is the?
An agreement between the insurer and the insured, the person who
is covered by the insurance, is established in a legal document
referred to as a contract of insurance Answer: policy
◉Loss is? Answer: defined as reduction in the value of an asset
◉To be paid for a loss the insured must notify the insurer by?
Answer: making a claim
◉What is an insurable interest?
It must be based on? Answer: An interest in the life of an individual
by which there will be a loss if the insured dies.
Either a family relationship or on economic factors Must exist at the
tie of application, not necessarily at the time of loss. If you would
benefit if a person continues to live, you have an insurable interest in
that person.
,◉To "rescind" a policy means to? Answer: void or cancel the policy
flat by returning all premiums to the insured. It is as if the policy
never existed and no coverage applies
◉What is fraud? Answer: An intentional and fraudulent omission on
the part of an insured that allows the insurer to rescind the contract
◉What is perjury? Answer: A false representation on a signed claim
form
◉Concealment is? Answer: the neglect to communicate that which a
party knows and ought to communicate
◉Does concealment, whether intentional or unintentional, entitle
the injured party to rescind the insurance? Answer: Yes
◉What is an express warranty? Answer: A statement in a policy of a
matter relating to the person or thing insured, or to the risk, as a fact
◉A warranty may relate to the past, the present, or the future? True
or False Answer: True
, ◉Does a violation of a material warranty on the part of either party
entitles the other other to rescind the insurance contract? Yes/No
Answer: Yes
◉How is materiality determined? Answer: by the probable
influence of the facts upon the underwriter in forming their opinion
of the disadvantages of the proposed contract
◉Is a particular form of words necessary to create a warranty?
Yes/No Answer: No
◉A representation may be? Answer: Oral or written and be made at
the time of, or before the issuance of the policy
◉A ________ may be altered or withdrawn before the policy is issued,
but not afterwards. Answer: representation
◉The injured party is entitled to rescind the contract if? Answer: a
representation is false in a material point
◉Is the financial rating of the insurer required to be specified in the
insurance policy? Answer: No
