Chapter 5 Life Insurance License Test Latest 2024 Graded A+

Chapter 5 Life Insurance License Test Latest 2024 Graded A+ What is the term used for an applicant's written request to an insurer for the company to issue a contract, based on the information provided? application An insurance policy, together with the policy application and any other riders form what is known as? entire contract To comply with Fair Credit Reporting Act, when must a producer notify an applicant that a credit report may be requested? at the time of the application When is a notice to the applicant issued to applicants? for health insurance coverage Which of the following entities can legally bind a coverage? insurer Which is true regarding obtaining underwriting sources? The applicant must be informed of the sources contacted and how the information is being gathered Whose responsibility is it to determine if all of the questions on an application have been answered? the agent An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do? Ask her to sign a statement of good health An application for a health insurance policy returns a completed application to her agent, along with a check for the first premium. she receives a conditional receipt 2 weeks later. which of the following has the insurer done by this point? Neither approved the application nor issued the policy What document describes an insured's medical history, including diagnoses and treatments? attending physicians statement An insurer is attempting to determine the insurability of an applicant and decides to obtain medical information from several different sources. Which entity must be notified of the investigation? the applicant Which of the following is true regarding health insurance underwriting for a person with HIV? The person may not be declined for medical coverage solely based on HIV status Who must pay for the cost of a medical examination required in the process of underwriting? insurer Which of the following is true about the requirements regarding HIV exams? the applicant must give prior informed written