Life Insurance Exam Question (Texas) Rated A+

Which of the following is considered a field underwriter? - An agent When must insurable interest exist in life insurance? - Application or issues date If no receipt is issued at the time application, a statement of good health is usually required at the time of - Policy Delivery The Medical Information Bureau is - A source of medical information to alert insurers to adverse medical history A substandard risk compared to a standard risk would pay - A higher premium Which of the following documents describes specific information about policy provisions and benefits? - Policy Summary All the following may have an insurable interest in the insured EXCEPT - Insured's best friend Which of the following would be the main source of underwriting information used by the company in the risk selection process? - Application "90% information comes from the application" An insured submits the full premium along with a completed application, and the policy is issued 10 days later. When does the coverage begin? - On the date of the application What is the main responsibility of a company's underwriting unit? - Risk selection and classification( preferred, standard, substandard)Which of the following best describes the purpose of the USA PATRIOT Act with regards to the insurance, what must the agent do? - Inform the insurance company