Life and Health Insurance Texas License Exam 100% Correct!

its members is known as - ANSWERRisk Retention Group Which of these describe a participating life insurance policy? - ANSWERPolicy holders are entitled to receive dividends Which of the following required insurers to disclose when an applicant's consumer or credit history is being investigated: - ANSWER1970 Fair Credit Reporting Act Who makes the legally enforceable promises in a unilateral insurance policy - ANSWERInsurance Company Which of these is considered a statement that is assured to be true in every respect? - ANSWERWarranty The consideration clause of an insurance contract includes - ANSWERThe schedule and amount of premium payments A policy of adhesion can only be modified by whom? - ANSWERinsurance company A contract where one party either accepts or rejects the terms of a contract written by another party is called a contract of - ANSWERAdhesion In an insurance contract the insurer is the only party who makes a legally enforceable promise. What kind of contract is this? - ANSWERUnilateral When third-party ownership is involved, applicants who also happen to be the stated primary beneficiary are required to have. - ANSWERinsurable interest in the proposed insured Insurance contracts are known as ___ because certain future conditions or acts must occur before any claims can be paid. - ANSWERConditional