1|Page
PEARSON VUE - COMPLETING THE APPLICATION,
UNDERWRITING, AND DELIVERING THE POLICY REVIEW
EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS
When producer delivers policy and collects initial premium
When producer delivers policy and collects initial premium
Agent J takes an application and initial premium from an
applicant and sends the application and premium check to the
insurance company. The insurance company returns the check
back to J because the check is made out to J instead of the
insurance company. What action should J take?
Return to the customer, collect a new check made out to the
insurance company, and send the new check out to the
insurance company
All are true statements regarding the underwriting process,
EXCEPT:
AIDS and HIV virus exams can be conducted in a discriminatory
fashion
,2|Page
Which factors are taken into consideration when an insurance
company determines the premium rate for a Whole Life policy
on an applicant?
Risk classification
Which of these factors do NOT play a role in the underwriting of
a life insurance policy?
Marital status
Consumer reports requested by an underwriter during the
application process of a life insurance policy can be used to
determine:
probability of making timely premium payments
We have an expert-written solution to this problem!
In order for coverage on a non-medical insurance application to
take effect the same day, the producer must collect a signed
application and
the initial premium
An applicant's medical information received from the Medical
Information Bureau (MIB) may be furnished to the:
applicant's physician
, 3|Page
D the agent met with a prospect and ended up selling an
insurance policy. While filling out the insurance application, D
makes a mistake. In this situation, D MUST
correct the information and have the prospect initial the change
Life insurance companies are required to establish and maintain
an anti-money laundering compliance program according to
which federal regulation?
USA Patriot Act
We have an expert-written solution to this problem!
M completes an application for life insurance but does not pay
the initial premium. All of these actions must occur before M's
policy goes into effect, EXCEPT:
free-look period has expired
Which of these do NOT constitute policy delivery?
Policy issued with a rating
A life insurance application must be signed by all of these,
EXCEPT:
beneficiary
PEARSON VUE - COMPLETING THE APPLICATION,
UNDERWRITING, AND DELIVERING THE POLICY REVIEW
EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS
When producer delivers policy and collects initial premium
When producer delivers policy and collects initial premium
Agent J takes an application and initial premium from an
applicant and sends the application and premium check to the
insurance company. The insurance company returns the check
back to J because the check is made out to J instead of the
insurance company. What action should J take?
Return to the customer, collect a new check made out to the
insurance company, and send the new check out to the
insurance company
All are true statements regarding the underwriting process,
EXCEPT:
AIDS and HIV virus exams can be conducted in a discriminatory
fashion
,2|Page
Which factors are taken into consideration when an insurance
company determines the premium rate for a Whole Life policy
on an applicant?
Risk classification
Which of these factors do NOT play a role in the underwriting of
a life insurance policy?
Marital status
Consumer reports requested by an underwriter during the
application process of a life insurance policy can be used to
determine:
probability of making timely premium payments
We have an expert-written solution to this problem!
In order for coverage on a non-medical insurance application to
take effect the same day, the producer must collect a signed
application and
the initial premium
An applicant's medical information received from the Medical
Information Bureau (MIB) may be furnished to the:
applicant's physician
, 3|Page
D the agent met with a prospect and ended up selling an
insurance policy. While filling out the insurance application, D
makes a mistake. In this situation, D MUST
correct the information and have the prospect initial the change
Life insurance companies are required to establish and maintain
an anti-money laundering compliance program according to
which federal regulation?
USA Patriot Act
We have an expert-written solution to this problem!
M completes an application for life insurance but does not pay
the initial premium. All of these actions must occur before M's
policy goes into effect, EXCEPT:
free-look period has expired
Which of these do NOT constitute policy delivery?
Policy issued with a rating
A life insurance application must be signed by all of these,
EXCEPT:
beneficiary
