Package deal
WASHINGTON LIFE & HEALTH INSURANCE EXAM PACKAGE DEAL ALREADY GRADED A+
WASHINGTON LIFE & HEALTH INSURANCE EXAM PACKAGE DEAL ALREADY GRADED A+
[Show more]WASHINGTON LIFE & HEALTH INSURANCE EXAM PACKAGE DEAL ALREADY GRADED A+
[Show more]1x sold
policy owner - usually, but not always the person covered by the policy 
beneficiary - the person who is paid when a claim 
is submitted 
agent/producer - acts as a legal representative 
of the insurance company 
broker - representative of the Insured, not the insurance company 
risk - The chance or...
Preview 4 out of 37 pages
Add to cartpolicy owner - usually, but not always the person covered by the policy 
beneficiary - the person who is paid when a claim 
is submitted 
agent/producer - acts as a legal representative 
of the insurance company 
broker - representative of the Insured, not the insurance company 
risk - The chance or...
Fair Credit Reporting Act - protects consumers against circulation of inaccurate or obsolete personal 
or financial information 
Domestic - in the state 
Foreign - in OTHER state 
Alien - out of the U.S. (other country) 
Temporary License - 180 DAYS 
Peril - cause of loss (such as a fire) 
Risk - ch...
Preview 3 out of 25 pages
Add to cartFair Credit Reporting Act - protects consumers against circulation of inaccurate or obsolete personal 
or financial information 
Domestic - in the state 
Foreign - in OTHER state 
Alien - out of the U.S. (other country) 
Temporary License - 180 DAYS 
Peril - cause of loss (such as a fire) 
Risk - ch...
Apparent - is the appearance or assumption of authority based on the actions, words, or deeds of 
the principal or because of circumstances the principal created. 
Mutual Company - Owned by the policyowner and issue participating policies. Policy owners are 
entitled to dividends, which are a return...
Preview 2 out of 14 pages
Add to cartApparent - is the appearance or assumption of authority based on the actions, words, or deeds of 
the principal or because of circumstances the principal created. 
Mutual Company - Owned by the policyowner and issue participating policies. Policy owners are 
entitled to dividends, which are a return...
Fair credit reporting act - A federal law that regulates consumer reporting agency's in the use of 
consumer reports 
Fair credit reporting act requirement - The insurer must inform the applicant of the name and 
address of the investigation agency so the applicant is able to obtain a copy of the r...
Preview 2 out of 7 pages
Add to cartFair credit reporting act - A federal law that regulates consumer reporting agency's in the use of 
consumer reports 
Fair credit reporting act requirement - The insurer must inform the applicant of the name and 
address of the investigation agency so the applicant is able to obtain a copy of the r...
The federal Risk Retention Act of 1986 applies to which businesses? - self-insuring businesses 
John, an insurance producer, receives a request for information from the Commissioner. His written reply 
is due within how many days after receiving the request? - 15 business days 
For a misrepresentati...
Preview 2 out of 9 pages
Add to cartThe federal Risk Retention Act of 1986 applies to which businesses? - self-insuring businesses 
John, an insurance producer, receives a request for information from the Commissioner. His written reply 
is due within how many days after receiving the request? - 15 business days 
For a misrepresentati...
Insurance Commissioner - Head of Office of Insurance Commissioner, is in charge of company 
supervision, consumer protection, and rates and forms. 
-Elected on a 4 year term 
-Pays 25k bond 
-Must examine records at least every 5 years 
Has Power to: 
-Issue rules to carryout or enforce the state in...
Preview 3 out of 19 pages
Add to cartInsurance Commissioner - Head of Office of Insurance Commissioner, is in charge of company 
supervision, consumer protection, and rates and forms. 
-Elected on a 4 year term 
-Pays 25k bond 
-Must examine records at least every 5 years 
Has Power to: 
-Issue rules to carryout or enforce the state in...
Pure Risk - Refers to situations that can only result in a loss or no change. There's no opportunity for 
financial gain. Only type of risk that insurance companies are willing to accept. 
Speculative Risk - Opportunity for either loss or gain (e.g. gambling). Not insurable. 
Hazards - Conditions/s...
Preview 3 out of 22 pages
Add to cartPure Risk - Refers to situations that can only result in a loss or no change. There's no opportunity for 
financial gain. Only type of risk that insurance companies are willing to accept. 
Speculative Risk - Opportunity for either loss or gain (e.g. gambling). Not insurable. 
Hazards - Conditions/s...
borrowing more than __% of the loan value of a life insurance policy to purchase a new policy is 
considered replacement - 25% 
Period of time with receiving an application that the replacing insurer must notify any other existing 
insurer - 3 days 
length of time replacing insurer must keep copies ...
Preview 2 out of 5 pages
Add to cartborrowing more than __% of the loan value of a life insurance policy to purchase a new policy is 
considered replacement - 25% 
Period of time with receiving an application that the replacing insurer must notify any other existing 
insurer - 3 days 
length of time replacing insurer must keep copies ...
An insurer authorized to do business within this state is considered what type of insurer? 
A 
Alien 
B 
Domestic 
C 
Foreign 
D 
Admitted - D-Admitted 
An insurer authorized to do business in this state is referred to as admitted, and could be either 
domestic, foreign, or alien domiciled. 
A long-...
Preview 4 out of 125 pages
Add to cartAn insurer authorized to do business within this state is considered what type of insurer? 
A 
Alien 
B 
Domestic 
C 
Foreign 
D 
Admitted - D-Admitted 
An insurer authorized to do business in this state is referred to as admitted, and could be either 
domestic, foreign, or alien domiciled. 
A long-...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card for the summaries. There is no membership needed.
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!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
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.
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
No, you only buy these notes for £13.77. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
79064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now