Ad banker exam questions Study guides, Class notes & Summaries

AD Banker Exam Questions and Answers 2023

AD Banker Comprehensive Exam 2024 Questions and Answers 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 - Ans ️️ -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: A Restricted persons B Considerations C Competent parties D Agreement - Ans ️️ -C A com...

AD Banker Exam Questions and Answers All Correct Where can an insured find insurance coverage after being rejected by Insurer A due to claims history? A Residual market B Risk retention insurer C Reinsurance market D Lloyd's of London - Answer-A Residual Market The residual market is a coverage source of last resort for businesses and individuals who have been rejected by voluntary market insurers. Which Federal entity administers the Terrorism Risk Insurance Program Reauthoriza...

AD Banker Exam questions & answers

Until yesterday, J. J. worked for his father's company and was covered by the company's large group health plan. He stopped working to go to college. He is 26 years of age and wants to keep the same coverage until he earns his degree in approximately 24 months. Which of the following statements is true? - CORRECT ANSWER-A good option for J.J. is to exercise the COBRA option under his father's group plan Which of the following annuities does not have a traditional accumulation phase? - ...

AD Banker Exam Questions and Answers A Grade Hicks Corp. wants to install a contributory group plan. It employs 200 people. How many employees must participate in order to install the plan? - Answer-150 What is covered under a business owner expense (business overhead) policy? - Answer-Business property rental Accident and Health insurers would use which of the following formulas in determining premium rates? - Answer-Morbidity - Interest + Expenses What is a common exclusion in a m...

AD Banker Exam Questions with Correct Answers The insurance contract is said to be a contract of Utmost Good Faith, because: - Answer-Each party is entitled to rely upon the representations of the other that there is nothing concealed or dishonest A good example of Risk Reduction might be: - Answer-When one takes action to minimize the severity of a potential loss A breach under the Doctrine of Warranty may result in: - Answer-Voidance of the contract When an insurance policy is not ...

Which of the following terms best describes the maximum length of time that disability income benefits will be paid to the disabled insured? CORRECT ANSWER Benefit period An insured purchases a disability income policy with a 90 day elimination period. If a disability lasts 100 days, the insured would be entitled to receive benefits for ___days. CORRECT ANSWER 10 When an individual pays the full cost of individual disability income insurance, the disabled insured's benefit will be _______...

AD Banker Exam Questions & Answers 2023/2024 Until yesterday, J. J. worked for his father's company and was covered by the company's large group health plan. He stopped working to go to college. He is 26 years of age and wants to keep the same coverage until he earns his degree in approximately 24 months. Which of the following statements is true? - ANSWER-A good option for J.J. is to exercise the COBRA option under his father's group plan Which of the following annuities does not have ...