Lifeinsurance - Study guides, Class notes & Summaries

peril - ANSWER the immdeiate specific event causing loss and giving rise to risk hazard - ANSWER any factor that gives rise to a peril physical hazard - ANSWER individual characteristics that increase chance of peril *physical condition, past medical history, condition at birth moral hazard - ANSWER tendencies that people may have that increase risk and chance of loss *drug addiction and alcholism morale hazard - ANSWER individual tendencies that arise from an attitude or state of m...

At what point must a life insurance applicant be informed of their rights that fall underthe Fair Credit Reporting Act? - CORRECT ANS Upon completion of the application Who elects the governing body of a mutual insurance company? - CORRECT ANSpolicyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - CORRECT ANS Fair Credit ReportingAct What type of reinsurance contract involves two companies automatically ...

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A ____________ company is one that is domiciled in another state and has Not received a license to do business in Alabama. - ANSWERS Foreign Nonamitted A 15-year mortgage - ANSWERS 15 year decreasing term A collateral assignment allows a policy owner to assign: - ANSWERS A portion of the policy provides to the assignee A cross purchase buy-see agreement is in place of ABC Company four founding partners. What would this agreement require if the agreement is funded with individual life ...

ALABAMA INSURANCE TEST Exam 2024 Expected Questions and Answers (Verified by Expert) ALABAMA INSURANCE TEST Exam 2024 Expected Questions and Answers (Verified by Expert) ALABAMA INSURANCE TEST Exam 2024 Expected Questions and Answers (Verified by Expert) 1 / 10 Alabama Life & Health Insurance Test Questions and Answers 1. Which welfare program provides assistance to the needy? ANS Medicaid 2. Barbara has the right to change the beneficiary designation on her lifeinsurance policy. Barba...

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Prometric CNA revised questions and correct answers 2023/2024 A resident often carries a doll with her, treating it like her baby. One day she is wandering around crying that she can't find her baby. The nurse aide should - correct answeroffer comfort to the resident and help her look for her baby. A nurse aid is asked to change a urinary drainage bag attached to an indwelling catheter. The nurse aid has never done this before. The best response by the nurse aid is to - correct ...

WEBCE Life And Health (281 Questions) With 100% Correct Verified Answers GRADED A Representations and Warranties - Correct Answer-Representations are statements theapplicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Correct Answer-Two related insurance company functions. Throughthe process of , applications are assessed forinsurability andtoas...