Alberta General Insurance Level 1 Practice Exam 2025 – 400 Free Practice Questions to Pass the Exam

When applying for an insurance policy, the most relevant and comprehensive information required typically includes personal details, a history of previous claims, and property information. This information is essential for insurance companies to accurately assess risk and determine the terms and premiums of the coverage.

Personal details such as the applicant's name, address, and contact information help establish the identity of the insured. Understanding the applicant's history of previous claims allows the insurer to gauge the risk associated with the applicant; a history of frequent claims might indicate higher risk. Lastly, information regarding the property, such as its location, value, and condition, is crucial because it directly impacts the potential loss the insurer would cover.

While other options may contain relevant information or aspects that could be of interest to insurance companies, they do not encapsulate the foundational elements required to assess the risk and appropriately tailor the insurance solution for the applicant. For instance, current market values of assets alone do not provide a complete picture of the applicant's risk profile, nor do annual income and investment portfolios adequately reflect the specifics needed when determining coverage.