Massachusetts Life and Health Insurance Exam Questions and Correct Answers | Latest Update

MASSACHUSETTS HEALTH AND ACCIDENT EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Stock companies Correct Answer: incorporated companies owned by their stockholders Mutual companies Correct Answer: commercial insurers that are owned by their policy holders Lloyd's of Lo...

MASSACHUSETTS LIFE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Accelerated Benefits Correct Answer: Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits Correct Answer...

MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Insurance Correct Answer: Transfer of Risk Risk Correct Answer: Uncertainty/ Possibility of Loss Exposure Correct Answer: Risks for which the insurance company would be liable Peril...

MASSACHUSETTS HEALTH & ACCIDENT INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Hazard Correct Answer: Situation that increases chance of loss Annuity Correct Answer: Policy issued by an insurance company to promise you an income that can last you a lifetime ...

An agent's authority to bind an insurer to an insurance contract may be granted in the Correct Answer: agent's contract and the insurance company's appointment Which of these is an accurate statement regarding the fixed period settlement option on a life insurance policy? Correct Answer: A p...

Stock companies Correct Answer: incorporated companies owned by their stockholders Mutual companies Correct Answer: commercial insurers that are owned by their policy holders Lloyd's of London Correct Answer: NOT an insurance company, issues insurance like coverage Risk retention groups Corr...

Accelerated Benefits Correct Answer: Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits Correct Answer: A policy rider that states that the cause of death will be analyzed to determine if it...

Hazard Correct Answer: Situation that increases chance of loss Annuity Correct Answer: Policy issued by an insurance company to promise you an income that can last you a lifetime Insurer Correct Answer: An insurance company Insured Correct Answer: A person or business covered by an insuranc...

Insurance Correct Answer: Transfer of Risk Risk Correct Answer: Uncertainty/ Possibility of Loss Exposure Correct Answer: Risks for which the insurance company would be liable Peril Correct Answer: Cause of Loss Hazard Correct Answer: Something that causes an increase in the chance of loss ...

Hazard -:- Situation that increases chance of loss Annuity -:- Policy issued by an insurance company to promise you an income that can last you a lifetime Insurer -:- An insurance company Insured -:- A person or business covered by an insurance pol icy Health Insurance 2 | P a g e ...

Insurance -:- Transfer of Risk Risk -:- Uncertainty/ Possibility of Loss Exposure -:- Risks for which the insurance company would be liable Peril -:- Cause of Loss Hazard -:- Something that causes an increase in the chance of loss 2 | P a g e | G r a d e A + | 2 0 2 4 / 2 0 2 5 2 ...

Accelerated Benefits -:- Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits -:- A policy rider that states that the cause of death will be analyzed to determine if it complies with the pol...