GA LIFE ACCIDENT AND SICKNESS EXAM QUESTIONS AND ANSWERS
11 vues 0 fois vendu
Cours
Georgia Life and Health Insurance
Établissement
Georgia Life And Health Insurance
GA LIFE ACCIDENT AND SICKNESS
EXAM QUESTIONS AND ANSWERS
At what point must a life insurance applicant be informed of their right that fall under the
fair credit reporting act? - Correct Answer ️️ -Upon the completion of the application
A Group owned insurance company that is formed to assu...
ga life accident and sickness exam questions and a
École, étude et sujet
Georgia Life and Health Insurance
Georgia Life and Health Insurance
Vendeur
S'abonner
BrittieDonald
Avis reçus
Aperçu du contenu
GA LIFE ACCIDENT AND SICKNESS EXAM QUESTI ONS AND ANSWERS At what point must a life insurance applicant be informed of their right that fall under the fair cr edit reporting act? - Correct Answer ✔️✔️-Upon the completion of the application A Group owned insurance company that is formed to assume and spread the liability risks of its members is known as a: - Correct Answer ✔️✔️-Risk retention group Who elects the governing body of a mutual insurance company - Correct Answer ✔️✔️-
Policyholders Which of these describes a participating insurance policy? - Correct Answer ✔️✔️-Policy owners are entitled to receive dividends The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policy holders is called: - Correct Answer ✔️✔️-
reserves At what point does an informal agreement become a binding contract? - Correct Answer ✔️✔️-When consideration is provided by one of the parties to the contract A policy of adhesion can only be modified by whom? - Correct Answer ✔️✔️-The insurance company. (A policy of adhesion is best described as a policy which only the insurance company can modify.) A life insurance agreem ent which circumvents insurable interest statutes is called - Correct Answer ✔️✔️-Investor - originated life insurance Which of these is not a type of agent authority? - Correct Answer ✔️✔️-principal In an insurance contract, the insurer is the only party who makes a legally enforceable promise. What kind of contract is this? - Correct Answer ✔️✔️-Unilateral Insurance contracts are unilateral. This means that only one party (the insurer) makes any kind of enforceable promise. When third -party ownership is involved, applicants who also happens to be the stated primary beneficiary are required to have - Correct Answer ✔️✔️-Insurable interest in the proposed insured Which of these require an offer, acceptance, and consideration? - Correct Answer ✔️✔️-
Contract Offer, acceptance, and consideration are all elements of a contract. Insurance policies are considered aleatory contracts because - Correct Answer ✔️✔️-
performance is conditioned upon a future occurrence Which of these arrangements allows one to bypass insurable interest laws? - Correct Answer ✔️✔️-Investor -originated life insurance (or IOLI), sometimes called stranger -
originated life insurance (or STOLI) is used to circumvent state insurable interest statutes. This is done when an investor (or stranger) persuades an individual to take out life insurance specifically for the purpose of selling the policy to the investor. The investor compensates the insured and makes the premiums, then collects the death benefit when the insured dies. A contract where one party either except or reject the terms of a contract written by another party is called a contract of - Correct Answer ✔️✔️-Adhesion Insurance contracts are known as___because certain future conditions or ask must occur before any claims can be paid - Correct Answer ✔️✔️-Conditional In regards to representations or warranties, which of these statements is TRUE? - Correct Answer ✔️✔️-If material to the risk, false representations will void a policy Which of these is not considered to be an element of an insurance contract? - Correct Answer ✔️✔️-negotiating Insurance policies are offered on a take it or leave it bases, which make them - Correct Answer ✔️✔️-Contracts of adhesion Statements made on insurance app lication that are believed to be true to the best of the applicants knowledge are called - Correct Answer ✔️✔️-representations P owns a $25,000 Life Policy that pays the face amount to him if he lives to age 70, or to his beneficiary if he dies before age 70. What kind of policy does P own? - Correct Answer ✔️✔️-Endowment at age 70 Credit Life Insurance is - Correct Answer ✔️✔️-issued in an amount not to exceed the amount of the loan Which of the following information is not required to be included in a who le life policy? - Correct Answer ✔️✔️-Policy's guaranteed dividend table
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur BrittieDonald. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €11,90. Vous n'êtes lié à rien après votre achat.
