Wa state life insurance Correct Questions & Answers!!

Fair credit reporting act - ANSWER A federal law that regulates consumer reporting agency's in the use of consumer reports Fair credit reporting act requirement - ANSWER The insurer must inform the applicant of the name and address of the investigation agency so the applicant is able to obtain a copy of the report and have the opportunity to refute any misinformation Fair credit reporting act requirement - ANSWER The investigating agency cannot report bad debts over seven years old or bankruptcy over 10 years old Fair credit reporting act requirement - ANSWER The insurer has 30 days to notify the customer of denial of coverage of denial was based on the report Fair credit reporting act requirements - ANSWER This act insurance confidentiality and helps in underwriting accuracy but does not guarantee it Fair credit reporting act - ANSWER Investigative consumer report a.k.a. inspection report is used to determine an applicant's personal characteristics