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AD Banker Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: In an insurance contract, the value that each party gives the other is called the: A. Acceptance B. Consideration C. Offer D. Subject matter Answer: B Consideration Consideration can take the form of money, goods, a promise to do something, or anything else that changes the legal position of the party. A contract cannot exist without consideration being given by both sides. Q...

AD Banker Comprehensive Exam 294 Questions And Answers 2024 (Verified 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 - Correct answer 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 Agreem...

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 - correct answer 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

AD Banker Comprehensive Exam / AD Banker Comprehensive Exam Actual Questions and Answers Solved Complete Test Already Passed/verified 100%

AD Banker Comprehensive Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest Update) Q: When insurance cannot be placed with a licensed insurer, it may be placed with an authorized/non-admitted insurer by a: A. General surplus producer B. General use producer C. General consultant D. Surplus Lines broker Answer: D. Q: In insurance, to determine acceptable risks is the primary responsibility of the: A. Underwriter B. Adjuster C. Auditor D. Producer Ans...

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 CORRECT 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 Reauthorization Act? A Secretary of State B Executiv...

AD Banker Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: An insurer authorized to transact insurance in a particular state by that state's insurance department is known as: A - A resident insurer B - A domestic insurer C - A non-admitted insurer D - An admitted insurer Answer: D - An admitted insurer An admitted insurer is an insurer authorized to transact insurance in a particular state by that state's departm...

AD Banker Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: An insurer authorized to transact insurance in a particular state by that state's insurance department is known as: A - A resident insurer B - A domestic insurer C - A non-admitted insurer D - An admitted insurer Answer: D - An admitted insurer An admitted insurer is an insurer authorized to transact insurance in a particular state by that state's departm...

AD Banker Comprehensive Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest Update 2024/ 2025) Q: Which of the following applies when two parties rely upon the promises of the other? Answer: Concept of utmost good faith Q: Which of the following is not an unfair claims practice? Answer: A. Attempting to settle claims on the basis of an altered application Answer:Failing to inform a claimant about appealing arbitration awards C. Requiring an insured to sue ...

AD Banker Comprehensive 2024/ 2025 Exam| Questions and Verified Answers| 100% correct| A Grade The type of policy that can be changed from one that does not accumulate cash values to one that does is a: A. Universal life policy B. Variable life policy C. Permanent policy D. Convertible term policy Answer: D. QUESTION With a modified premium whole life contract, premium payments: A. Are lower in the early years of the contract B. Are invested in the stock market C. Never...