Texas Funeral Prearrangement Test

The people at the insurance company who determine the risk and accept or reject the risk are called - ANSWER-Underwriters A ______ risk is one where the proposed insured exceeds the basic standards so the company may offer more coverage or a lesser premium for the coverage applied for to the applicant. - ANSWER-Preferred The amount the insurer needs to cover the risk it has assumed is called the: Mortality charge, Reserve, Standard risk, Liability account - ANSWER-Mortality Charge When the applicant has more to gain by the insured's continued life, the applicant has an ___ in the insured. - ANSWER-Insurable Interest The policy owner cannot change the beneficiary to another person or entity without the beneficiary's prior consent when the beneficiary is listed as: The primary beneficiary, The contingent beneficiary, The irrevocable beneficiary, The default beneficiary - ANSWER-The irrevocable beneficiary ___ is when the effective date of the policy is set at an earlier date than when the application is completed in order to save age. - ANSWER-Backdating The payment method that allo