Life agent insur Study guides, Class notes & Summaries

Final Exam: California Life, Accident, and Health Insurance 2023 with complete solution 1. What is considered the most common type of specified disease insurance policy?: Cancer 2. Minimum participation standards exist for a group health insurance plans in order to: Prevent Adverse Selection 3. How does underwriting differ between group life and individual life insur- ance?: Medical questions must be answered on individual life insurance 4. when handling premiums for an insured an agent is a...

Tennessee Life Insurance exam 2024 with 100% correct answers An insured purchased a Life Insurance policy. The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. The policy is a/an - correct answer interest-sensitive whole life Which of the following is NOT true of life settlements? - correct answer the seller must be terminally ill The paid-up addition option uses the dividend -...

1 OHIO LIFE INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ To qualify for appointment of agent - -18 YOA, US citizenship not required, no minimum residency Original certificate good for.... - -180 days Renewal for license - -beinnially on birth month, $5 fee Types of risk - -Pure risk - covered by insurance Speculative risk - not covered (gambling) How to handle risk - -avoid it retain it - self insurance reduce it share it transfer it - buy insurance, spreads risk to l...

"Person" means all of the following EXCEPT - CORRECT ANSWER-an organizational trust What is a solicitor employed to do for a policy other than life? - CORRECT ANSWER-To aid a property and casualty agent or broker in transacting insurance. When examination of an insurer shows the insurer to be insolvent and a danger to the public, which authority is granted to the Commissioner by the CIC? - CORRECT ANSWER-The commissioner may take possession of offices, books and property immediately wi...

52 Hour California Life, Accident And Health Course Questions And Answers When an insurer can no longer meet its financial obligations when they are due, the insurer is considered to be: Correct Answer: Insolvent Explanation: Insolvency means any impairment of required minimum paid-in capital or the inability of the insurer to meet its financial obligations when they are due. #9Question #121863 An appointment as an agent of an insurer becomes effective on the date it is: Correct Answer:

What does life insurance protect against? - Answer- Dying too soon. What happens to the death benefit with a Variable Universal Life Policy? - Answer- It may increase/decrease within limits. Who sells insurance to a client and owes a fiduciary duty to an insurance company? - Answer- The Agent/Producer What does a "Family Policy" provide? - Answer- Different coverage on different family members. In order to qualify for AD&D coverage, the accident must directly cause death within how...

1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- Fair Credit Re- porting Act 4. Who elects the governing body of a m...

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. 106. Question #90627 During the waiting (elimination) period: AThe insure...

Final Exam: California Life, Accident, and Health Insurance 2023 with complete solution 1. What is considered the most common type of specified disease insurance policy?: Cancer 2. Minimum participation standards exist for a group health insurance plans in order to: Prevent Adverse Selection 3. How does underwriting differ between group life and individual life insur- ance?: Medical questions must be answered on individual life insurance 4. when handling premiums for an insured an agent is actin...

North Carolina XCEL Testing Life & Health Insurance Exam 2023/2024 1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- ...