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ILLINOIS LIFE INSURANCE BUNDLED EXAM 2024
ILLINOIS LIFE INSURANCE SPOT –ON EXAM Illinois Life & Health Insurance spot –on exam solutions 2024
[Show more]ILLINOIS LIFE INSURANCE SPOT –ON EXAM Illinois Life & Health Insurance spot –on exam solutions 2024
[Show more]What is insurance? - correct answer The transfer of the risk of loss from the individual or business entity to an insurance company 
 
What is included under the term insurance transaction? - correct answer Solicitation, negotiating prior to execution of a contract, execution of a contract, and the ...
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Add to cartWhat is insurance? - correct answer The transfer of the risk of loss from the individual or business entity to an insurance company 
 
What is included under the term insurance transaction? - correct answer Solicitation, negotiating prior to execution of a contract, execution of a contract, and the ...
Lloyd's of London - correct answer NOT an insurer but rather a syndicate of individuals and companies that underwrite insurance. 
 
1945 McCarran and Ferguson Act - correct answer This law made it clear that the states' continued regulation of insurance was in the public's best interest. However,...
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Add to cartLloyd's of London - correct answer NOT an insurer but rather a syndicate of individuals and companies that underwrite insurance. 
 
1945 McCarran and Ferguson Act - correct answer This law made it clear that the states' continued regulation of insurance was in the public's best interest. However,...
Pooling of Risks - correct answerA large group of people contribute money to a fund out of which their losses can be paid 
 
Policyowner - correct answeris the person or org that applies for the policy and pays the premium 
 
Actuarial Tables - correct answerAre statistical tables that are used when...
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Add to cartPooling of Risks - correct answerA large group of people contribute money to a fund out of which their losses can be paid 
 
Policyowner - correct answeris the person or org that applies for the policy and pays the premium 
 
Actuarial Tables - correct answerAre statistical tables that are used when...
What type of life insurance is most commonly used for group plans? - correct answerAnnually renewable term 
 
who is the owner and who is the beneficiary on. a key life insurance policy? - correct answerthe employe is the owner and the beneficiary 
 
who is. a third party owner? - correct answera po...
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Add to cartWhat type of life insurance is most commonly used for group plans? - correct answerAnnually renewable term 
 
who is the owner and who is the beneficiary on. a key life insurance policy? - correct answerthe employe is the owner and the beneficiary 
 
who is. a third party owner? - correct answera po...
Pooling of Risks - correct answer A large group of people contribute money to a fund out of which their losses can be paid 
 
Policyowner - correct answer is the person or org that applies for the policy and pays the premium 
 
Actuarial Tables - correct answer Are statistical tables that are used w...
Preview 3 out of 16 pages
Add to cartPooling of Risks - correct answer A large group of people contribute money to a fund out of which their losses can be paid 
 
Policyowner - correct answer is the person or org that applies for the policy and pays the premium 
 
Actuarial Tables - correct answer Are statistical tables that are used w...
An applicant may not be refused insurance coverage due to - correct answer Race 
 
An applicant may be refused insurance coverage due to - correct answer 1. Health 
2. Age 
3. Occupation 
 
The director - correct answer Has authority to review policy forms if they will be issued for delivery in Il...
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Add to cartAn applicant may not be refused insurance coverage due to - correct answer Race 
 
An applicant may be refused insurance coverage due to - correct answer 1. Health 
2. Age 
3. Occupation 
 
The director - correct answer Has authority to review policy forms if they will be issued for delivery in Il...
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