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Northwestern Mutual Exam Question with 100 % correct answers | Verified
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  • Northwestern Mutual

_____ is responsible for paying the policy's premium and has various rights as specified in the contract - Owner 1.1: The McCarran-Ferguson Act of 1945..... - Gave states the authority to regulate insurance 1.10: A false statement in the application that can render the contract void, if material...

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  • August 2, 2024
  • 1
  • 2024/2025
  • Exam (elaborations)
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  • Northwestern Mutual
  • Northwestern Mutual

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Northwestern Mutual Exam
_____ is responsible for paying the policy's premium and has various rights as specified in the contract -
Owner



1.1: The McCarran-Ferguson Act of 1945..... - Gave states the authority to regulate insurance



1.10: A false statement in the application that can render the contract void, if material to the acceptance
of the risk, is know as... - Misrepresentation



1.10: Essential elements of a legal contract (3) - Consideration, Legal Purpose, and Competent
Parties



1.2: Dividends issued by stock insurers are paid to... - Stockholders



1.4: An insurer authorized to do business within this state is considered what type of insurer? -
Admitted



1.5: The mass marketing distribution uses _____ to reach a large audiance - Direct Response
Marketing



1.7: An _______has the right to review the consumer report used in the underwriting process -
Applicant



1.8: Risk reduction is... - Minimizing the chance of loss



Hazards for insurance underwriting purposes (3) - Physical, Moral, and Morale



The highest authority for insurance regulation is... - The individual states

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