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AD Banker
Comprehensive Exam
Controlled business may be defined as insurance sold:
A
To individuals needing an increased amount of term insurance
B
To existing clients only
C
To anyone willing to buy
D
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
,To the producer, the producer's family and friends, and the producer's
business associates - ANS-D
Which of the following policies could be expected to have the lowest
premium?
A
Whole life
B
Endowment to age 65
C
Single pay life
D
10-pay life - ANS-A
A producer who is acting as an agent is representing:
A
The insured, the applicant and the beneficiary
Always the insured
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C
The insured and the insurer
D
Always the insurer - ANS-D
In order to be valid, a contract must be between individuals considered
legally able to enter into an agreement. This principle is known as:
A
Restricted persons
B
Considerations
C
Competent parties
D
Agreement - ANS-C
A company that is licensed to sell insurance in a particular state is:
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
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A
A domiciled company
B
A nonadmitted company
C
An authorized company
D
A foreign companyA company that is licensed to sell insurance in a
particular state is: - ANS-C
An insurance contract is an aleatory contract. This means:
A
Equal value is not given by both parties to the contract
The contract must be for a legal purpose
C
Parties to the contract must have the legal capacity to enter into the
contract
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
1 | Page
AD Banker
Comprehensive Exam
Controlled business may be defined as insurance sold:
A
To individuals needing an increased amount of term insurance
B
To existing clients only
C
To anyone willing to buy
D
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
,To the producer, the producer's family and friends, and the producer's
business associates - ANS-D
Which of the following policies could be expected to have the lowest
premium?
A
Whole life
B
Endowment to age 65
C
Single pay life
D
10-pay life - ANS-A
A producer who is acting as an agent is representing:
A
The insured, the applicant and the beneficiary
Always the insured
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
,B Downloaded by: alinemutua2 ()
C
The insured and the insurer
D
Always the insurer - ANS-D
In order to be valid, a contract must be between individuals considered
legally able to enter into an agreement. This principle is known as:
A
Restricted persons
B
Considerations
C
Competent parties
D
Agreement - ANS-C
A company that is licensed to sell insurance in a particular state is:
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
, Downloaded by: alinemutua2 ()
A
A domiciled company
B
A nonadmitted company
C
An authorized company
D
A foreign companyA company that is licensed to sell insurance in a
particular state is: - ANS-C
An insurance contract is an aleatory contract. This means:
A
Equal value is not given by both parties to the contract
The contract must be for a legal purpose
C
Parties to the contract must have the legal capacity to enter into the
contract
Document shared on https://www.docsity.com/en/docs/ad-banker-comprehensive-exam-7/15111306/
