AD Banker

A producer has each of the following responsibilities to the Insurer, except: a. A fiduciary duty b. Forwarding premiums to the insurer on a timely basis c. Reporting material facts that may affect underwriting d. A duty to recommend only high rate policies - ANSWERSd. A duty to recommend only high rate policies Each of the following must be included in an insurable risk, except: a. Calculable chance of loss b. Excluded catastrophic perils c. Large group with dissimilar members d. Acc...

As long as the premium is paid, a Medigap policy is __________ renewable. - ANSWERSGuaranteed Medicare is available to individuals who have been receiving ______________ benefits for 24 months. - ANSWERSSocial Security Disability What do ADLs trigger? - ANSWERSLong-Term Care Insurance Which Long-Term Care definition does not match the coverage - ANSWERSResidential Care -- Health care provided in one's home under a planned program established by his/her attending physician Anna is ...

As long as the premium is paid, a Medigap policy is __________ renewable. - ANSWERSGuaranteed Medicare is available to individuals who have been receiving ______________ benefits for 24 months. - ANSWERSSocial Security Disability What do ADLs trigger? - ANSWERSLong-Term Care Insurance Which Long-Term Care definition does not match the coverage - ANSWERSResidential Care -- Health care provided in one's home under a planned program established by his/her attending physician Anna is ...

As long as the premium is paid, a Medigap policy is __________ renewable. - ANSWERSGuaranteed Medicare is available to individuals who have been receiving ______________ benefits for 24 months. - ANSWERSSocial Security Disability What do ADLs trigger? - ANSWERSLong-Term Care Insurance Which Long-Term Care definition does not match the coverage - ANSWERSResidential Care -- Health care provided in one's home under a planned program established by his/her attending physician Anna is ...

Which of the following is not a function of insurance? A To act as an investment vehicle for the insured B To exchange a small certain expense for a large uncertain loss C To transfer risk from the insured to the insurer D To protect against uncertainty and reduce anxiety - ANSWERSA) To act as an investment vehicle for the insured An insurer with capital that is divided into shares, and is owned by shareholders, is considered a: A Reciprocal insurer B Stock insurance company C F...

Each of the following is an element of a legal contract, except: A Legal Purpose B Indemnity C Agreement D Consideration - ANSWERSB) Indemnity Which principle of insurance restores the insured to the same economic condition that existed before the loss? A Insurable interest B Insurability C Underwriting D Indemnity - ANSWERSD) Indemnity M purchases an insurance policy by paying the policy premium. If a loss does not occur during the policy period, M may have paid the premiu...

Which statement would be considered inaccurate regarding the underwriting of a group plan? - ANSWERSContributory plans require 100% employee participation When underwriting group life, the underwriter treats the group as if it were: - ANSWERSOne individual All of the following are true of the Coordination of Benefits Provision under a group plan, except: - ANSWERSIn the event children are covered under two group plans, the insurer for the parent who is the oldest is primary, and the other ...

Members of the ___________ include state and territorial insurance commissioners or regulators. - ANSWERSNational Association of Insurance Commissioners (NAIC) Before an insurer can operate in this state, it must have which of the following? - ANSWERSCertificate of Authority issued by the state Insurance Department The contract type in which only one party is legally bound to its contractual obligations after a premium is paid is a(n)_______ contract. - ANSWERSUnilateral Minimizing the ...

Premises and Operations - ANSWERSexposure under a general liability policy applies to an insured business that conducts its operations both at its own premises and elsewhere. Products Exposure - ANSWERSunder a GL policy applies to the bodily injury property damage caused by any goods/products under insured's name Completed Operations Exposure - ANSWERSApplies to occurrences that occur after the insured's operations have been completed and result from improper or defective workman...

Insurance agreement in life insurance policy states what? - ANSWERSObligation of the insurance company to pay the policy proceeds upon presentation of valid proof of the death of the insured which occurred while the policy is in force When a life insurance becomes incontestable - ANSWERSafter 2 yrs, the insurer will not refuse to pay a death claim based on misinformation in the original app for insurance Grace period in life insurance policy is 31 days, which allows - ANSWERSpayment of the pre...