LIFE INSURANCE UNDERWRITING AND
POLICY ISSUE EXAM AND ALL CORRECT
ANSWERS.
Which of the following does a life insurance policy summary normally
include?
The policy's cash value
Agent's report
Policyowner's MIB report
Stated beneficiary - CorreCt Answers -The policy's cash value
All of these are considered sources of information that can assist an
underwriter in determining whether or not to accept a risk EXCEPT
Agent's report
Medical Information Bureau (MIB)
Inspection reports
National Association of Insurance Underwriters - CorreCt Answers -
National Association of Insurance Underwriters
Which of the following signatures is not required on an individual
insurance application?
Producer
Applicant
Insured
Insurer - CorreCt Answers -Insurer
, What is involved when a life insurance policy has been backdated?
Setting a policy's effective date prior to a preexisting condition
Redating a policy after it has been issued
Reinstating a lapsed policy
Making the policy effective on an earlier date than the present - CorreCt
Answers -Making the policy effective on an earlier date than the present
Which scenario would most life insurance policies exclude coverage for?
A tourist traveling abroad on a major airline carrier
An individual who has a hobby racing cars once a month
An airline pilot who flies for a commercial carrier
A soldier on leave at home - CorreCt Answers -An individual who has a
hobby racing cars once a month
Underwriters can acquire information from all of the following sources
EXCEPT
Medical Information Bureau (MIB)
consumer reports
attending physician's statements
genetic testing - CorreCt Answers -genetic testing
An insurance applicant with a below-average likelihood of loss is typically
considered to be a
preferred risk
subpar risk
POLICY ISSUE EXAM AND ALL CORRECT
ANSWERS.
Which of the following does a life insurance policy summary normally
include?
The policy's cash value
Agent's report
Policyowner's MIB report
Stated beneficiary - CorreCt Answers -The policy's cash value
All of these are considered sources of information that can assist an
underwriter in determining whether or not to accept a risk EXCEPT
Agent's report
Medical Information Bureau (MIB)
Inspection reports
National Association of Insurance Underwriters - CorreCt Answers -
National Association of Insurance Underwriters
Which of the following signatures is not required on an individual
insurance application?
Producer
Applicant
Insured
Insurer - CorreCt Answers -Insurer
, What is involved when a life insurance policy has been backdated?
Setting a policy's effective date prior to a preexisting condition
Redating a policy after it has been issued
Reinstating a lapsed policy
Making the policy effective on an earlier date than the present - CorreCt
Answers -Making the policy effective on an earlier date than the present
Which scenario would most life insurance policies exclude coverage for?
A tourist traveling abroad on a major airline carrier
An individual who has a hobby racing cars once a month
An airline pilot who flies for a commercial carrier
A soldier on leave at home - CorreCt Answers -An individual who has a
hobby racing cars once a month
Underwriters can acquire information from all of the following sources
EXCEPT
Medical Information Bureau (MIB)
consumer reports
attending physician's statements
genetic testing - CorreCt Answers -genetic testing
An insurance applicant with a below-average likelihood of loss is typically
considered to be a
preferred risk
subpar risk
