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AD Banker Comprehensive Exam Questions With Correct Answers
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AD Banker Comprehensive Exam Questions With Correct Answers
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AD Banker Comprehensive ExamQuestions With Correct Answers
A cproducer cwho cis cacting cas can cagent cis crepresenting:
A
The cinsured, cthe capplicant cand cthe cbeneficiary
B
Always cthe cinsured
C
The cinsured cand cthe cinsurer
D
Always cthe cinsurer c- ccorrect canswers✔✔D
In corder cto cbe cvalid, ca ccontract cmust cbe cbetween cindividuals cconsidered clegally
cable cto center cinto can cagreement. cThis cprinciple cis cknown cas:
A
Restricted cpersons
B
Considerations
C
Competent cparties
D
Agreement c- ccorrect canswers✔✔C
A ccompany cthat cis clicensed cto csell cinsurance cin ca cparticular cstate cis:
A
A cdomiciled ccompany
B
A cnonadmitted ccompany
C
An cauthorized ccompany
,D
A cforeign ccompanyA ccompany cthat cis clicensed cto csell cinsurance cin ca cparticular
cstate cis: c- ccorrect canswers✔✔C
An cinsurance ccontract cis can caleatory ccontract. cThis cmeans:
A
Equal cvalue cis cnot cgiven cby cboth cparties cto cthe ccontract
B
The ccontract cmust cbe cfor ca clegal cpurpose
C
Parties cto cthe ccontract cmust chave cthe clegal ccapacity cto center cinto cthe ccontract
D
Statements cmade cin cthe capplication care cguaranteed cto cbe ctrue cin call crespects c-
ccorrect canswers✔✔A
Which cof cthe cfollowing cwould cbe cconsidered ca cspeculative crisk?
A
The cpossibility cyour ccar cis ctotaled cin can cauto caccident
B
The cpossibility cthe cpainting cyou cbought cmight cbe ca clong-lost cmasterpiece
C
The cpossibility cyou cwill cdie con cthe cjob cat ca cyoung cage
D
The cpossibility cyou cwill cbecome cdisabled c- ccorrect canswers✔✔B
Which cis cthe cproper cterm cfor ca ccompany cowned cby cits cpolicyowners?
A
A ccharitable cinsurance ccompany
B
A creciprocal cinsurance ccompany
C
A cdomestic cinsurance ccompany
D
,A cmutual cinsurance ccompany c- ccorrect canswers✔✔D
All cof cthe cfollowing care celements cof ca ccontract, cexcept:
A
Offer cand cacceptance
B
Legal cpurpose
C
Authority
D
Consideration c- ccorrect canswers✔✔C
Each cof cthe cfollowing cwould cbe can celement cin cthe cdefinition cof cfraud, cexcept:
A
A cfalse cstatement con cthe capplication cthat cis cmaterial cto cthe cacceptance cof cthe crisk
B
Withholding cof cknown cmaterial cfacts
C
Intentional cmaterial cmisrepresentation cwith cthe cintent cof ccausing cinjury cto canother
cparty
D
An cindividual cwarrants ca cfact cstated con cthe capplication c- ccorrect canswers✔✔D
Legally cspeaking, ca cproducer chas ca c__________ cduty cwhen chandling clife
cinsurance cpremiums cand capplications cfor can cinsurer.
A
Fiduciary
B
Undisputed
C
Negotiated
D
Professional c- ccorrect canswers✔✔A
, _________ crefers cto cthe cjurisdiction cwhere can cinsurer cwas cformed cor cincorporated.
A
Authorized
B
Approved
C
Domicile
D
Admitted c- ccorrect canswers✔✔C
To caddress cadverse cselection cwhat ccan can cinsurer clegally cdo?
A
Limit cthe camount cof ccoverage cissued
B
Raise cthe cpremium chigher cthan cmost cpeople ccan cafford cto cpay
C
Establish cand cenforce csound cunderwriting cpractices
D
Not coffer cpolicies cto cthose cover cage c55 c- ccorrect canswers✔✔C
The crelationship cof ca cperson cwho cacts con cbehalf cof ca ccompany cwhereby cthe
cperson's cactions ccan cbind cthe ccompany cis cknown cas:
A
Surplus clines cor cexcess cinsurance
B
The claw cof clarge cnumbers
C
The claw cof cagency
D
Brokerage cbusiness c- ccorrect canswers✔✔C
_____________ cconsists cof cgroups cof cunderwriters ccalled csyndicates, ceach cof
cwhich cspecializes cin cinsuring ca cparticular ctype cof crisk.
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