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Exam (elaborations)

AD Banker Comprehensive Exam Questions and Answers (100% Pass)

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A producer who is acting as an agent is representing: A The insured, the applicant and the beneficiary B Always the insured C The insured and the insurer D Always the insurer D In order to be valid, a contract must be between individuals considered legally able to enter into an agreeme...

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  • November 8, 2024
  • 238
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AD Banker
  • AD Banker
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1|Page | © copyright 2024/2025 | Grade A+




AD Banker Comprehensive Exam
Questions and Answers (100% Pass)
A producer who is acting as an agent is representing:




A


The insured, the applicant and the beneficiary




B


Always the insured




C


The insured and the insurer




D


Always the insurer


✓ D




In order to be valid, a contract must be between individuals considered

legally able to enter into an agreement. This principle is known as:

Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+




A


Restricted persons




B


Considerations




C


Competent parties




D


Agreement


✓ C




A company that is licensed to sell insurance in a particular state is:




A


A domiciled company




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

B


A nonadmitted company




C


An authorized company




D


A foreign companyA company that is licensed to sell insurance in a

particular state is:


✓ C




An insurance contract is an aleatory contract. This means:




A


Equal value is not given by both parties to the contract




B


The contract must be for a legal purpose




Master01 | October, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

C


Parties to the contract must have the legal capacity to enter into the contract




D


Statements made in the application are guaranteed to be true in all respects


✓ A




Which of the following would be considered a speculative risk?




A


The possibility your car is totaled in an auto accident




B


The possibility the painting you bought might be a long-lost masterpiece




C


The possibility you will die on the job at a young age




D


Master01 | October, 2024/2025 | Latest update

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