IAI SP1 Practice Questions - IAI Subject SP1 Health and Care Specialist Principles Exam - IAI SP1 Practice Questions - IAI Subject SP1 Health and Care Specialist Principles Exam

Question 1

Which feature most clearly distinguishes a standalone critical illness (CI) policy from an income protection (IP) policy?

CI pays a lump sum on diagnosis of a defined condition, while IP pays a regular income during incapacity for work CI pays a regular income while IP pays a single lump sum CI covers only accidental injury whereas IP covers only sickness CI is always written as a group contract while IP is always individual

Correct Answer:

CI pays a lump sum on diagnosis of a defined condition, while IP pays a regular income during incapacity for work

Question 2

Private medical insurance (PMI) typically indemnifies the policyholder against which of the following?

A fixed daily cash amount irrespective of the actual treatment cost The cost of acute private medical treatment, subject to policy limits and exclusions Loss of earnings during a period of hospitalisation A lump sum payable only on diagnosis of a terminal illness

Correct Answer:

The cost of acute private medical treatment, subject to policy limits and exclusions

Question 3

Long-term care insurance (LTCI) is primarily designed to meet the cost of which need?

Acute surgical treatment in a private hospital Replacement income for a wage earner aged under 50 Care and assistance arising from an inability to perform activities of daily living A maturity benefit payable on survival to a fixed age

Correct Answer:

Care and assistance arising from an inability to perform activities of daily living

Question 4

A health cash plan is best described as a contract that:

Indemnifies the full cost of major surgery Provides a single large lump sum on diagnosis of cancer Replaces 75% of salary during long-term sickness Pays fixed cash amounts towards routine everyday health costs such as dental, optical and physiotherapy expenses

Correct Answer:

Pays fixed cash amounts towards routine everyday health costs such as dental, optical and physiotherapy expenses

Question 5

In an individual income protection policy, the 'deferred period' refers to:

The continuous period of incapacity that must elapse before benefit payments begin The waiting period after policy issue before any claim is admissible The maximum length of time benefits will be paid The period during which premiums may be deferred without lapsing the policy

Correct Answer:

The continuous period of incapacity that must elapse before benefit payments begin

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About this Exam

Prepare with the IAI SP1 Practice Questions - IAI Subject SP1 Health and Care Specialist Principles Exam practice quiz. This question bank includes 100 questions covering care, risk, health, insurer, and protection. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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IAI SP1 Practice Questions - IAI Subject SP1 Health and Care Specialist Principles Exam

This practice set contains 100 questions from the matching question bank and focuses on care, risk, health, insurer, and protection. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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IAI SP1 Practice Questions - IAI Subject SP1 Health and Care Specialist Principles Exam

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