In the study, the 50 qualified drivers taking a real theory test found questions on road and traffic signs the most difficult to answer.
This was followed by vehicle handling and accidents, with vulnerable road users and the safety of your vehicle in equal fourth.
Rules of the road was the sixth most difficult section for the experienced drivers to answer.
The study also revealed that only 15 per cent of drivers feel they are completely road-literate and therefore able to understand all road signs they encounter when driving.
Steve Barrett, head of Churchill Car Insurance, said: "An inability to read the road properly often leads to hesitant and unsafe driving behaviours, so we'd urge all road users to regularly brush up on their knowledge of road signs and regulation, as these are frequently updated."
Ian McIntosh, chief executive officer of Red Driving School, said: "It is very worrying that road illiteracy among experienced motorists is so widespread. The theory test is an essential part of a driver's road education and ensures that motorists can read the road and drive in the safest possible manner. The theory test was introduced in 1996 so there will be a lot of drivers on the road without this grounding."
A higher proportion of experienced drivers passed the hazard perception element than the multiple choice questions, which suggests that while their road experience may have given them the skills to identify hazards, their knowledge of road signs and driving regulations is poor.
The theory test is split into two parts, both of which need to be passed. The first section is a 50-question multiple-choice test and to pass you must answer 43 or more questions correctly within 57 minutes. Questions are chosen at random from a bank of more than 1,000 questions on a selection of topics, split into 14 sections.
The second element is the hazard perception test. It contains a series of 14 one-minute video clips showing potential road hazards in a simulated environment. A learner driver needs to score at least 44 out of 75 to pass this test (each hazard has a maximum of 5 points) and they have 20 minutes in which to complete it.
The theory test was introduced in 1996 and updated to a computer-based version in 2002. It is regularly updated to take into account changes to road regulations.
-Telegraph Group Ltd