Life and Health Insurance Webce Exam | Questions with
100% Correct Answers | Verified | Latest Update 2026
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Insurance Exam- 0215 Life and Healt... Unit 1 AD Banker Property & Casualty Prac... FU
Teacher 168 terms Teacher 23 terms 47 terms Te
Benson_ngugi Preview milanshii108 Preview Tuo_K Preview
Practice questions for this set
Learn 1 /7 Study with Learn
to protect against accidental injury, illness or sickness
Choose an answer
1 Auto Insurance 2 Family Coverage
3 Automobile Insurance 4 Health Insurance
Don't know?
Terms in this set (180)
Risk Chance of loss
Loss Unplanned reduction of economic value
Peril cause of loss
, Hazard a condition that increases the chance of peril
Risk Transfer buying insurance to shift the risk to insurance company
Underwriting assessing applicant to determine insurability
Adverse Selection people with greater risk of loss trying to buy insurance
Mutual Companies owned by policyholders and issue participating polices dividends which aren't
guaranteed or taxable
Stock Companies Owned by stockholders whose stock can be publicly traded and pay dividends
that are taxable
Federal Insurance Programs Medicare and Social Security
State Insurance Programs Medicaid and Workers' comp
Producers Authority Expressed
Implied
Apparent
Required Disclosures Buyer's guide and policy summary
Offer signed application and initial premium
Acceptance issuing of policy as applied for by insurer
Contract of Adhesion ambiguities in the contract that are interpreted to the benefit of the
policyowner
Representations applicants truthful statements on application
Ways to manage risk Transfer
Avoid
Retain
Reduce
Share with others
Speculative Risk result in loss or gain, noninsurable
Moral Hazard character weakness like habits or lifestyle
Morale Hazard State of mind or carless attitude
Physical Hazard physical condition that increases ones less like heavy drinking or smoking
100% Correct Answers | Verified | Latest Update 2026
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
Insurance Exam- 0215 Life and Healt... Unit 1 AD Banker Property & Casualty Prac... FU
Teacher 168 terms Teacher 23 terms 47 terms Te
Benson_ngugi Preview milanshii108 Preview Tuo_K Preview
Practice questions for this set
Learn 1 /7 Study with Learn
to protect against accidental injury, illness or sickness
Choose an answer
1 Auto Insurance 2 Family Coverage
3 Automobile Insurance 4 Health Insurance
Don't know?
Terms in this set (180)
Risk Chance of loss
Loss Unplanned reduction of economic value
Peril cause of loss
, Hazard a condition that increases the chance of peril
Risk Transfer buying insurance to shift the risk to insurance company
Underwriting assessing applicant to determine insurability
Adverse Selection people with greater risk of loss trying to buy insurance
Mutual Companies owned by policyholders and issue participating polices dividends which aren't
guaranteed or taxable
Stock Companies Owned by stockholders whose stock can be publicly traded and pay dividends
that are taxable
Federal Insurance Programs Medicare and Social Security
State Insurance Programs Medicaid and Workers' comp
Producers Authority Expressed
Implied
Apparent
Required Disclosures Buyer's guide and policy summary
Offer signed application and initial premium
Acceptance issuing of policy as applied for by insurer
Contract of Adhesion ambiguities in the contract that are interpreted to the benefit of the
policyowner
Representations applicants truthful statements on application
Ways to manage risk Transfer
Avoid
Retain
Reduce
Share with others
Speculative Risk result in loss or gain, noninsurable
Moral Hazard character weakness like habits or lifestyle
Morale Hazard State of mind or carless attitude
Physical Hazard physical condition that increases ones less like heavy drinking or smoking
