West Virginia Laws and Rules
Insurance
6 months - Answer-pre-existing conditions may be excluded on a Medicare Supplement policy for up to
3 months
6 months
9 months
12 months
Delivery Receipt - Answer-A ________ ________ is the signed document that starts the free-look period.
Buyer's Summary
Delivery Receipt
Policy Guide
,Binding Receipt
returning a portion of a premium as inducement to purchase insurance - Answer-An example of rebating
would be
returning a portion of a premium as inducement to purchase insurance
a mutual insurance company paying dividends to its policyholder
reducing the premiums across the board for a specific risk class
offering temporary insurance coverage
"Nonforfeiture benefits will be available after a period of time" - Answer-Which of these statements
may a producer make to a client about a Whole Life policy?
"Your policy will begin to build cash value on day 1"
"I will give you 25% of my commission in exchange for purchasing this whole life policy"
"Dividends from this policy are guaranteed"
"Nonforfeiture benefits will be available after a period of time"
, Misrepresentation - Answer-_________ can be defined as "making an unfair comparison of two
insurance policies".
Rebating
Twisting
Coercion
Misrepresentation
Producer delivers the policy to an applicant more than 7 business days after they received it for delivery
- Answer-Which of these actions taken by a producer is considered a violation of West Virginia insurance
laws pertaining to Medicare Supplements?
Producer gives prospective insured an Outline of Coverage when taking an application for a Medicare
Supplement policy
Producer determines the appropriateness of the Medicare Supplement policy for the proposed insured
Producer delivers the policy to an applicant more than 7 business days after they received it for delivery
Producer tells applicant there is a 30 day free-look period for a Medicare Supplement policy
Insurance
6 months - Answer-pre-existing conditions may be excluded on a Medicare Supplement policy for up to
3 months
6 months
9 months
12 months
Delivery Receipt - Answer-A ________ ________ is the signed document that starts the free-look period.
Buyer's Summary
Delivery Receipt
Policy Guide
,Binding Receipt
returning a portion of a premium as inducement to purchase insurance - Answer-An example of rebating
would be
returning a portion of a premium as inducement to purchase insurance
a mutual insurance company paying dividends to its policyholder
reducing the premiums across the board for a specific risk class
offering temporary insurance coverage
"Nonforfeiture benefits will be available after a period of time" - Answer-Which of these statements
may a producer make to a client about a Whole Life policy?
"Your policy will begin to build cash value on day 1"
"I will give you 25% of my commission in exchange for purchasing this whole life policy"
"Dividends from this policy are guaranteed"
"Nonforfeiture benefits will be available after a period of time"
, Misrepresentation - Answer-_________ can be defined as "making an unfair comparison of two
insurance policies".
Rebating
Twisting
Coercion
Misrepresentation
Producer delivers the policy to an applicant more than 7 business days after they received it for delivery
- Answer-Which of these actions taken by a producer is considered a violation of West Virginia insurance
laws pertaining to Medicare Supplements?
Producer gives prospective insured an Outline of Coverage when taking an application for a Medicare
Supplement policy
Producer determines the appropriateness of the Medicare Supplement policy for the proposed insured
Producer delivers the policy to an applicant more than 7 business days after they received it for delivery
Producer tells applicant there is a 30 day free-look period for a Medicare Supplement policy
