Life and Health

What distinguishes a deferred annuity from an immediate annuity? - ANSWER The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - ANSWER 60 payments What is a common reason people purchase an annuity? - ANSWER To protect against the risk of outliving their financial resources What kind of annuity pays income to ...

When performing CPR on an unresponsive choking victim what modification should you incorporate? - ANSWER Each time you open the airway look for the obstructing object Members of the team know their boundaries and ask for help before the resuscitation attempt worsens. Match this statement with the most appropriate element of team dynamics listed. - ANSWER Knowing your limitations Rapid defibrillation is a link in the adult Chain of Survival. Why is this important to survival? - ANSWER It ...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - CORRECT ANS Upon completion of the application Who elects the governing body of a mutual insurance company? - CORRECT ANS policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - CORRECT ANS Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sh...

1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy | Questions with Answers

1 - ExamFX Life and Health - General Insurance / Completing Application, Underwriting and Delivering The Policy | Questions with 100% Correct Answers

What two elements are necessary to a life insurance contract to have a legal purpose? - 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? - Loss What Type of Risk is Insurable? - Pure What is the term for the causes of loss insured against in a insurance policy? - Peril What Law Protects Consumers from the circulation of inaccurate or obsolete information? - The Fair Credit Reporting Act What are the three types of hazards? - 1. Physical 2. Mo...