Georgia Life Insurance exam
The agent's Correct answers Whose responsibility is it to determine
that all the questions on an insurance application are answered?
Underwriting Correct answers What is the name of the process that
insurance companies use to determine whether or not an applicant
is insurable?
The process of risk selection and classification Correct answers What is
insurance underwriting?
Loss Correct answers Insurance is a contract that protects the insured
from what
Return the application to the applicant for completion Correct answers What
is the best way to handle incomplete insurance applications
The agent's report discusses the agent's personal observations about the
proposed insured that may help in the underwriting process Correct answers
What is the purpose of the agent's report during the application process
When it is intentional and material Correct answers When would a
misrepresentation on an insurance application be considered fraud?
Provide the applicant a disclosure authorization notice Correct answers If
an insurer needs to obtain information about the applicant from
investigators, what is the insurer required to do.
Only one party makes a legally enforceable promise Correct answers Health
insurance contracts are unilateral. What does that mean?
Insurable interest and consent Correct answers What two elements are
necessary for a life insurance contract to have a legal purpose?
When the insurer approves a prepaid application Correct answers In
forming an insurance contract, when does acceptance usually occur?
People who are more likely to submit insurance claims are seeking
insurance more often than preferred risks. Correct answers What is
adverse selection?
Standard, substandard, and preferred Correct answers The 3 risk
classifications used by underwriters for life insurance
The agent's Correct answers Whose responsibility is it to determine
that all the questions on an insurance application are answered?
Underwriting Correct answers What is the name of the process that
insurance companies use to determine whether or not an applicant
is insurable?
The process of risk selection and classification Correct answers What is
insurance underwriting?
Loss Correct answers Insurance is a contract that protects the insured
from what
Return the application to the applicant for completion Correct answers What
is the best way to handle incomplete insurance applications
The agent's report discusses the agent's personal observations about the
proposed insured that may help in the underwriting process Correct answers
What is the purpose of the agent's report during the application process
When it is intentional and material Correct answers When would a
misrepresentation on an insurance application be considered fraud?
Provide the applicant a disclosure authorization notice Correct answers If
an insurer needs to obtain information about the applicant from
investigators, what is the insurer required to do.
Only one party makes a legally enforceable promise Correct answers Health
insurance contracts are unilateral. What does that mean?
Insurable interest and consent Correct answers What two elements are
necessary for a life insurance contract to have a legal purpose?
When the insurer approves a prepaid application Correct answers In
forming an insurance contract, when does acceptance usually occur?
People who are more likely to submit insurance claims are seeking
insurance more often than preferred risks. Correct answers What is
adverse selection?
Standard, substandard, and preferred Correct answers The 3 risk
classifications used by underwriters for life insurance
