EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024
2 views 0 purchase
Course
NURS 3632
Institution
NURS 3632
EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024 EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024 EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024 EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024 EXAMFX LIFE AND HEALTH CHAPTER 1 QUESTIONS AND ANSWERS 2024
1. When would a misrepresentation on an insurance application be
considered fraud?: When it is intentional and material
2. What type of report provides information about the applicant's hobbies,
habits and financial status?: Investigative consumer report
3. Health insurance contracts are unilateral. What does that mean?: Only one
party makes a legally enforceable promise
4. In health insurance contracts, the insured is not legally bound to any
particular action; however, the insurer is obligated to pay for losses covered by
the policy. What contract element does this describe?: Unilateral
5. If an applicant for a life insurance policy and the potential insured are two
different people, what would be the underwriter's main concern?: The existence
of insurable interest between the applicant and the insured
6. When must insurable interest exist in a life insurance policy?: At the time
of application
1/6
, 7. If an agent fails to obtain the applicant's signature on the insurance
application, what must the insurer do?: Send the application back to the
applicant for signature
8. What is the name of the process that insurance companies use to determine
whether or not an applicant is insurable?: Underwriting
9. What is the best way to handle incomplete insurance applications?: Return
the application to the applicant for completion
10. If an applicant does not receive a copy of the new insurance policy, who
would be held responsible?: The agent
11. What report is used to assess risk associated with a health insurance
applicant's lifestyle and character?: Investigative Consumer Report 12. What
entities make up the Medical Information Bureau?: Insurers
13. How is the information obtained for an investigative consumer report?: -
Through interviews with the applicant's associates, friends and neighbors 14.
What term describes the fee a person pays an insurance company to receive
coverage?: Premium
2/6
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Davieacademia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.99. You're not tied to anything after your purchase.
