Life Insurance: The Insurance Marketplace Questions & 100% Correct Answers- Latest Test | Graded A+ | Passe
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Course
Life Insurance
Institution
Life Insurance
An insurance company and its agents must notify all applicants and policyholders of
information-gathering processes utilized for written application transactions
-:- At the time of delivery of the policy when personal information is only collected
from the applicant, an insured under the poli...
Life Insurance: The Insurance Marketplace
Questions & 100% Correct Answers- Latest
Test | Graded A+ | Passed
An insurance company and its agents must notify all applicants and policyholders of
information-gathering processes utilized for written application transactions
✓ -:- At the time of delivery of the policy when personal information is only collected
from the applicant, an insured under the policy, or public records.
&
At the time of application for the policy when information is collected from sources other
than the applicant, persons under the policy, or public records.
Your client wants to buy a par policy to supplement his retirement savings program. Which
of the following does your client need to understand about insurance policy dividends?
✓ -:- Dividends are considered a refund of unused premiums.
Which of the following entities or individuals evaluates requests for payment by insureds
after a loss has occurred?
✓ -:- Claims department
In order to become an admitted, authorized insurer, what is the primary body of law about
which an applicant company must be concerned?
✓ -:- California Insurance Code
What is the main difference between a life agent and a life analyst?
✓ -:- The way each is compensated
A primary difference between a life agent and a life analyst is how each receives payment: a
life analyst is not paid a commission by a life insurer either directly or indirectly for any
insurance transacted by an analyst. An agent, on the other hand, acts on behalf of an
insurer and received commission for insurance transactions.
An agent has how many days in which to receive an appointment after the issuance of an
insurance contract?
✓ -:- 14 days
4|Page | Grade A+| 2024/2025
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