Contract Law in Insurance Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What type of condition is a suicide clause?

Question 2 2. Which type of insurance contract involves a take-it-or-leave-it provision for a person or party?

Question 3 3. Which type of insurance contract involved a person receiving more than they have paid in terms of a contract?

Question 4 4. According to the lesson, which of the following is NOT a characteristic of insurance contracts?

Question 5 5. What is a precedent condition?

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Question 6 6. Where do insurers place the list of things being insured and the caveats as to what will not be insured?

Question 7 7. Where do the signatures usually go within the contract?

Question 8 8. What component of an insurance contract is where the insurer offers a service?

Question 9 9. What is the consideration element in a contract?

Question 10 10. What is another name for the agreement section?

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Question 11 11. The act of both parties agreeing to carry out their promise is which element of a contract?

Question 12 12. When a guest enters a bar and orders a few drinks, he is expected to pay because:

Question 13 13. When Justin collapsed after a workout, he was lucky that a doctor was on hand to help him. The doctor provided immediate medical care and sent Justin the bill afterwards. Justin refused to pay because he did not ask for medical care from the doctor. Justin is obligated to pay because:

Question 14 14. Which of the following must be part of a contract for it to be enforceable?

Question 15 15. Dennis told his coworkers that if he wins at the casino, he will, in his own words, 'help them out financially'. What can this be considered as?

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Question 16 16. What are warranties?

Question 17 17. Which type of warranty is written into the contract?

Question 18 18. In insurance, what is a representation?

Question 19 19. The doctrine of utmost good faith is _____.

Question 20 20. What does a disclosure require the parties to provide to one another?

Contract Law in Insurance Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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