Life Insurance Underwriting and Policy Issue Exam
Test with Verified Solutions
All of these are typically sources of underwriting information for life or health
insurance EXCEPT
* Consumer reports
* Medical Information Bureau (MIB) reports
* Disclosure authorization response
* Attending physician's statement (APS) - -Disclosure authorization
response
When does a life insurance policy typically become effective?
* When the policy is issued
* When initial premium is collected and policy is issued
* When the application is completed and signed
* When the completed application is signed and initial premium is collected -
-When initial premium is collected and policy is issued
Which of the following pertains to the analysis of an applicant's personal
information and determining whether insurance should be issued or
declined?
Adverse calculation
Underwriting
Risk classification
Actuarial determination - -Underwriting
, Life Insurance Underwriting and Policy Issue Exam
Test with Verified Solutions
Which of the following describes a person who is NOT acceptable by an
insurer at standard rates because of health history, occupation, or hobbies?
Standard risk
Preferred risk
Unacceptable risk
Substandard risk - -Substandard risk
Which of these is likely to occur when life or health insurance is being applied
for?
The Medical Information Bureau (MIB) will determine the risk classification
The agent is required to report all medical information to the Medical
Information Bureau (MIB)
Physical examinations are required
Medical history from the insured may be reviewed and reported - -
Medical history from the insured may be reviewed and reported
Which of these is considered to be a document that describes the critical
segments of a life insurance policy?
Buyer's guide
Policy summary
Consumer report
Buyer's summary - -Policy summary
Test with Verified Solutions
All of these are typically sources of underwriting information for life or health
insurance EXCEPT
* Consumer reports
* Medical Information Bureau (MIB) reports
* Disclosure authorization response
* Attending physician's statement (APS) - -Disclosure authorization
response
When does a life insurance policy typically become effective?
* When the policy is issued
* When initial premium is collected and policy is issued
* When the application is completed and signed
* When the completed application is signed and initial premium is collected -
-When initial premium is collected and policy is issued
Which of the following pertains to the analysis of an applicant's personal
information and determining whether insurance should be issued or
declined?
Adverse calculation
Underwriting
Risk classification
Actuarial determination - -Underwriting
, Life Insurance Underwriting and Policy Issue Exam
Test with Verified Solutions
Which of the following describes a person who is NOT acceptable by an
insurer at standard rates because of health history, occupation, or hobbies?
Standard risk
Preferred risk
Unacceptable risk
Substandard risk - -Substandard risk
Which of these is likely to occur when life or health insurance is being applied
for?
The Medical Information Bureau (MIB) will determine the risk classification
The agent is required to report all medical information to the Medical
Information Bureau (MIB)
Physical examinations are required
Medical history from the insured may be reviewed and reported - -
Medical history from the insured may be reviewed and reported
Which of these is considered to be a document that describes the critical
segments of a life insurance policy?
Buyer's guide
Policy summary
Consumer report
Buyer's summary - -Policy summary
