Life Insurance Underwriting and Policy Issue Test with 100%
Verified Answers
Sexual orientation, religious preference, and geographical location are not
allowed to be used in the underwriting process. Why is this so? - -
Considered unfair discrimination
Which is NOT a factor in the underwriting process of a life insurance
application?
1. Credit report
2. National origin
3. Age of applicant
4.Sex of applicant - -National Origin
An individual most likely will have an insurable interest in insuring a person's
life if:
1. an economic interest exists for the continuance of the insured's life
2. a financial interest exists at the time of insured's death
3. there is any blood relationship
4. a business relationship exists - -1. an economic interest exists for the
continuance of the insured's life
The reason for backdating a policy is:
1. to avoid being considered a substandard risk due to recent cancer
diagnosis
2. to obtain a premium rate based on earlier age
3. to decrease the face amount
Verified Answers
Sexual orientation, religious preference, and geographical location are not
allowed to be used in the underwriting process. Why is this so? - -
Considered unfair discrimination
Which is NOT a factor in the underwriting process of a life insurance
application?
1. Credit report
2. National origin
3. Age of applicant
4.Sex of applicant - -National Origin
An individual most likely will have an insurable interest in insuring a person's
life if:
1. an economic interest exists for the continuance of the insured's life
2. a financial interest exists at the time of insured's death
3. there is any blood relationship
4. a business relationship exists - -1. an economic interest exists for the
continuance of the insured's life
The reason for backdating a policy is:
1. to avoid being considered a substandard risk due to recent cancer
diagnosis
2. to obtain a premium rate based on earlier age
3. to decrease the face amount
