1|Page | © copyright 2024/2025 | Grade A+
AD Banker Comprehensive Exam
Questions and Answers (100% Pass)
A producer who is acting as an agent is representing:
A
The insured, the applicant and the beneficiary
B
Always the insured
C
The insured and the insurer
D
Always the insurer
✓ 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:
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
A
Restricted persons
B
Considerations
C
Competent parties
D
Agreement
✓ C
A company that is licensed to sell insurance in a particular state is:
A
A domiciled company
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
B
A nonadmitted company
C
An authorized company
D
A foreign companyA company that is licensed to sell insurance in a
particular state is:
✓ C
An insurance contract is an aleatory contract. This means:
A
Equal value is not given by both parties to the contract
B
The contract must be for a legal purpose
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
C
Parties to the contract must have the legal capacity to enter into the contract
D
Statements made in the application are guaranteed to be true in all respects
✓ A
Which of the following would be considered a speculative risk?
A
The possibility your car is totaled in an auto accident
B
The possibility the painting you bought might be a long-lost masterpiece
C
The possibility you will die on the job at a young age
D
Master01 | October, 2024/2025 | Latest update
AD Banker Comprehensive Exam
Questions and Answers (100% Pass)
A producer who is acting as an agent is representing:
A
The insured, the applicant and the beneficiary
B
Always the insured
C
The insured and the insurer
D
Always the insurer
✓ 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:
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
A
Restricted persons
B
Considerations
C
Competent parties
D
Agreement
✓ C
A company that is licensed to sell insurance in a particular state is:
A
A domiciled company
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
B
A nonadmitted company
C
An authorized company
D
A foreign companyA company that is licensed to sell insurance in a
particular state is:
✓ C
An insurance contract is an aleatory contract. This means:
A
Equal value is not given by both parties to the contract
B
The contract must be for a legal purpose
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
C
Parties to the contract must have the legal capacity to enter into the contract
D
Statements made in the application are guaranteed to be true in all respects
✓ A
Which of the following would be considered a speculative risk?
A
The possibility your car is totaled in an auto accident
B
The possibility the painting you bought might be a long-lost masterpiece
C
The possibility you will die on the job at a young age
D
Master01 | October, 2024/2025 | Latest update
