life insurance exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
An individual applied for an insurance policy and paid the initial premium. The insurer
issued a conditional receipt. Five days later the applicant and t submit a medical exam. If
the policy was issued, what would be the policy's effective date?
A. The date of policy delivery
B. The date of t...
life insurance exam Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
An individual applied for an insurance policy and paid the initial premium. The insurer
issued a conditional receipt. Five days later the applicant and t submit a medical exam. If
the policy was issued, what would be the policy's effective date?
The term "illustration" in a life insurance policy refers to
A. A presentation of non guaranteed elements of a policy
B. Depiction of policy benefits and guarantees
C. Pictures accompanying a policy
D. Charts and graphs
✓ -:- A. A presentation of nonguaranateed elements of a policy
A life insurance policy has a legal purpose if both of which of the following elements exist?
A. Underwriting and reciprocity
B. Offer and counteroffer
C. Policyowners and named beneficiaries
D. Insurable interest and consent
✓ -:- D. Insurable interest and consent
Under the Fair Credit Reporting Act, individuals rejected for insurance due to information
contained in a consumer report
4|Page | Grade A+| 2024/2025
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