Skip to content

My Account
My Self-Study Courses
View Cart

Home
Pre-Licensing
- Kentucky
- Indiana
Continuing Education
- Kentucky
- Indiana Correspondence Self-Study
FAQs
About
Contact

Home
Pre-Licensing
- Kentucky
- Indiana
Continuing Education
- Kentucky
- Indiana Correspondence Self-Study
FAQs
About
Contact

The Application

Time limit: 0

Quiz Summary

0 of 17 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 17 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Not categorized 0%

Review
Answered
Correct
Incorrect

Question 1 of 17

1. Question

In an insurance policy application, the person whose life is being insured is the: Page 176

Proposed insured
Correct Incorrect Correct answer

Applicant
Correct Incorrect Correct answer

Policyowner
Correct Incorrect Correct answer

Policy holder
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 17

2. Question

In an insurance policy application, the person making the application: Page 176

Is the applicant
Correct Incorrect Correct answer

May be the proposed insured
Correct Incorrect Correct answer

Is not necessarily the proposed insured
Correct Incorrect Correct answer

All of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 3 of 17

3. Question

In an insurance policy application, what do we know for sure about the policyowner? Page 176

The policyowner is the proposed insured.
Correct Incorrect Correct answer

The policyowner is not the proposed insured.
Correct Incorrect Correct answer

The policyowner pays the premiums and usually holds the rights under the policy.
Correct Incorrect Correct answer

The policyowner is the insured.
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 17

4. Question

All of the following are correct statements about insurance applications except: Page 176

It is a formal request for an insurance policy.
Correct Incorrect Correct answer

The insurance company uses the information on the application in its decision to issue the policy.
Correct Incorrect Correct answer

In the application, the applicant implies that the information provided is truthful and accurate to the best of his knowledge.
Correct Incorrect Correct answer

An accurate application assures acceptance for a policy.
Correct Incorrect Correct answer

Correct

Incorrect
Question 5 of 17

5. Question

Which of the following best describes the signatures required on an insurance application? Page 176

The applicant
Correct Incorrect Correct answer

The applicant, the proposed insured (if the applicant is not the proposed insured), and the agent
Correct Incorrect Correct answer

The applicant, the proposed insured (if the applicant is not the proposed insured), and the beneficiary
Correct Incorrect Correct answer

The applicant, the beneficiary, and the agent.
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 17

6. Question

Which of the following is a correct statement about the age a person can generally enter into an insurance contract? Page 176

A person must be 18 to enter into any contract.
Correct Incorrect Correct answer

In most jurisdictions, a person is a minor for purposes of applying for life insurance only until age 15.
Correct Incorrect Correct answer

A person must be 21 to enter into any contract.
Correct Incorrect Correct answer

For purposes of applying for life insurance in all 50 states, a person is a minor only until age 16.
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 17

7. Question

What happens if a person makes a mistake on an application for insurance? Page 177

Coverage will be denied.
Correct Incorrect Correct answer

Any contract issued subsequently will be voided.
Correct Incorrect Correct answer

A new application must be completed.
Correct Incorrect Correct answer

Changes may be made on the application with the applicant initialing the changes.
Correct Incorrect Correct answer

Correct

Incorrect
Question 8 of 17

8. Question

A statement on an insurance application believed to be true to the best of a person’s knowledge, but not actually a guarantee to be true, is a: Page 178

Representation
Correct Incorrect Correct answer

Warranty
Correct Incorrect Correct answer

Guarantee
Correct Incorrect Correct answer

Pledge
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 17

9. Question

A statement made with such certainty that it is guaranteed to be true is a: Page 178

Representation
Correct Incorrect Correct answer

Warranty
Correct Incorrect Correct answer

Oath
Correct Incorrect Correct answer

Pledge
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 17

10. Question

All of the following are true of statements made on an insurance application except: Page 178

No statement made on an insurance application is a warranty.
Correct Incorrect Correct answer

A false representation on an insurance application is a misrepresentation.
Correct Incorrect Correct answer

Misrepresentations on an insurance application are, by definition, unintentional.
Correct Incorrect Correct answer

Statements made on an insurance application are representations.
Correct Incorrect Correct answer

Correct

Incorrect
Question 11 of 17

11. Question

Which of the following is not an element of fraud? Page 178

Intentional misrepresentation of a material fact
Correct Incorrect Correct answer

Intent to gain advantage
Correct Incorrect Correct answer

Reliance by a second party
Correct Incorrect Correct answer

Reliance by a second party who suffers a loss
Correct Incorrect Correct answer

Correct

Incorrect
Question 12 of 17

12. Question

Which of the following is an element of fraud? Page 178

A mistake
Correct Incorrect Correct answer

An error
Correct Incorrect Correct answer

Intent
Correct Incorrect Correct answer

Intentional misrepresentation concealment
Correct Incorrect Correct answer

Correct

Incorrect
Question 13 of 17

13. Question

Withholding a material fact is termed: Page 178

Concealment
Correct Incorrect Correct answer

Misrepresentation
Correct Incorrect Correct answer

Falsification
Correct Incorrect Correct answer

Twisting
Correct Incorrect Correct answer

Correct

Incorrect
Question 14 of 17

14. Question

After an insurance application has been made and a conditional receipt has been issued, if the insured should die before the policy is issued, Page 179

The proceeds will be paid to the beneficiary if the company would have issued the policy; the premium will be returned if the company would not have issued the policy.
Correct Incorrect Correct answer

The proceeds will be paid to the beneficiary.
Correct Incorrect Correct answer

The premium will be returned.
Correct Incorrect Correct answer

The policy will be declared void.
Correct Incorrect Correct answer

Correct

Incorrect
Question 15 of 17

15. Question

What happens if an insurance applicant want to closely examine a life insurance policy before purchasing it? Page 179

He must wait to examine it during the free look period.
Correct Incorrect Correct answer

The applicant signs an inspection receipt, then pays the premium if he chooses to accept the policy after examination.
Correct Incorrect Correct answer

He pays the premium, but the agent holds it until the applicant has a chance to review the policy.
Correct Incorrect Correct answer

With an inspection receipt, he pays the full premium and can request a refund before the free look period if he decides not to purchase the policy.
Correct Incorrect Correct answer

Correct

Incorrect
Question 16 of 17

16. Question

Which of the following is not true of a life insurance policy’s effective date? Page 180

It provides full protection as of that date.
Correct Incorrect Correct answer

It established the date on which the incontestable period begins.
Correct Incorrect Correct answer

The policy cannot be cancelled after that date.
Correct Incorrect Correct answer

Although the premium may be paid earlier, it provides coverage as of that date.
Correct Incorrect Correct answer

Correct

Incorrect
Question 17 of 17

17. Question

Backdating an insurance policy to a date earlier than that on the application: Page 181

Generally cannot exceed six months
Correct Incorrect Correct answer

Will affect the policy’s effective date
Correct Incorrect Correct answer

Is in practice by virtually all insurance companies
Correct Incorrect Correct answer

Is prohibited
Correct Incorrect Correct answer

Correct

Incorrect

Find the perfect course to suit your needs and learning style

From in-person and virtual seminars with an instructor, to online self-study, we have a course for you.

Continuing Education

Excellence in Education since 1984

Courses

Life & Health
Life Only
Health Only
Property & Casualty
Adjuster
Continuing Education
All Courses

Links

Kentucky Pre-Licensing Info
Indiana Pre-Licensing Info
Frequently Asked Questions
About Us
Contact Us
Legacy Login

Get In Touch

Call (502) 425-5987
Fax (502) 429-0755
[email protected]
9302 New LaGrange Rd, Suite G, Louisville, KY 40242-3652

Copyright © 2023 Commonwealth School of Insurance

Web Design by Matthews Design

Scroll to Top

Home
Pre-Licensing
- Kentucky
- Indiana
Continuing Education
- Kentucky
- Indiana Correspondence Self-Study
FAQs
About
Contact