CNA Chapter 5 Exam With 100% Verified Answers
The underwriting process involves all of these, EXCEPT for: - -Policy loan
The USA Patriot Act was enacted in: - -2001
Consumer reports requested by an underwriter during the application process
of a life insurance policy can be used to determine: - -probability of
making timely premium payments
Upon policy delivery, a signed good health statement is requested from the
applicant. Why would this be necessary? - -The initial premium was
NOT submitted with the application
Which of these factors do NOT play a role in the underwriting of a life
insurance policy? - -Marital status
Which of these terms accurately defines an underwriter's assessment of
information on a life insurance application? - -Risk classification
A pilot applies for Life insurance. The insurer approves the application with a
$10 additional monthly premium modification due to the risk involved. The
pilot declines the additional premium modification. The insurer will then likely
issue the coverage with a(n) - -Aviation Exclusion
Kis an agent who takes an application for individual life insurance and accepts
a check from the client. He submits the application and check to the
insurance company, however the check was never signed by the applicant. If
, CNA Chapter 5 Exam With 100% Verified Answers
the application is approved, when will coverage be effective? - -The date
the agent delivered the policy, collected the initial premium, and obtained a
good health statement from the insured
T applies for a life insurance policy and is told by the producer that the insurer
is bound to the coverage as of the date of the application or medical
examination, whichever is later. Assuming that T is an acceptable risk, what
item is given to T? - -Conditional receipt
An agent gives a conditional receipt to a client for an insurance policy after
collecting the initial premium. When will the policy become effective? -
-When the conditions of the receipt are met
Which of these do NOT constitute policy delivery? - -Policy issued with
a rating
When an insurance application is taken by a producer, which of these
statements is true? - -Any changes made on the application require the
applicant's initials
Which of the following statements is CORRECT about an agent who is taking
an insurance application? - -The agent should have the applicant initial
any changes made on the application
Q applied for life insurance and submitted the initial premium on January 1.
The policy was issued February 1, but it was not delivered by the agent until
February 7. Q is dissatisfied and returns the policy February 13. How will the
The underwriting process involves all of these, EXCEPT for: - -Policy loan
The USA Patriot Act was enacted in: - -2001
Consumer reports requested by an underwriter during the application process
of a life insurance policy can be used to determine: - -probability of
making timely premium payments
Upon policy delivery, a signed good health statement is requested from the
applicant. Why would this be necessary? - -The initial premium was
NOT submitted with the application
Which of these factors do NOT play a role in the underwriting of a life
insurance policy? - -Marital status
Which of these terms accurately defines an underwriter's assessment of
information on a life insurance application? - -Risk classification
A pilot applies for Life insurance. The insurer approves the application with a
$10 additional monthly premium modification due to the risk involved. The
pilot declines the additional premium modification. The insurer will then likely
issue the coverage with a(n) - -Aviation Exclusion
Kis an agent who takes an application for individual life insurance and accepts
a check from the client. He submits the application and check to the
insurance company, however the check was never signed by the applicant. If
, CNA Chapter 5 Exam With 100% Verified Answers
the application is approved, when will coverage be effective? - -The date
the agent delivered the policy, collected the initial premium, and obtained a
good health statement from the insured
T applies for a life insurance policy and is told by the producer that the insurer
is bound to the coverage as of the date of the application or medical
examination, whichever is later. Assuming that T is an acceptable risk, what
item is given to T? - -Conditional receipt
An agent gives a conditional receipt to a client for an insurance policy after
collecting the initial premium. When will the policy become effective? -
-When the conditions of the receipt are met
Which of these do NOT constitute policy delivery? - -Policy issued with
a rating
When an insurance application is taken by a producer, which of these
statements is true? - -Any changes made on the application require the
applicant's initials
Which of the following statements is CORRECT about an agent who is taking
an insurance application? - -The agent should have the applicant initial
any changes made on the application
Q applied for life insurance and submitted the initial premium on January 1.
The policy was issued February 1, but it was not delivered by the agent until
February 7. Q is dissatisfied and returns the policy February 13. How will the
