Life Insurance License Exam Correct 100%Life Insurance License Exam Correct 100%(FULL PACK SOLUTIONS)Life Insurance License Exam Correct 100%Life Insurance License Exam Correct 100%(FULL PACK SOLUTIONS)Life Insurance License Exam Correct 100%Life Insurance License Exam Correct 100%(FULL PACK SOLUTI...
[Show more]
Insurable Receipt - ANSWERSThe reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - ANSWERSStatements in the application for insurance that are believed to be true to the best of the applicants knowledge...
Preview 1 out of 4 pages
Add to cartInsurable Receipt - ANSWERSThe reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - ANSWERSStatements in the application for insurance that are believed to be true to the best of the applicants knowledge...
life insurance - ANSWERSinsurance that pays to a named beneficiary or the deceased's estate upon the death of the insured,may b annuity or endowment, may incl benef for accident death/dismemberment, disability, protects against risk pf premature death which exposes a finNcial riskto family or busin...
Preview 2 out of 8 pages
Add to cartlife insurance - ANSWERSinsurance that pays to a named beneficiary or the deceased's estate upon the death of the insured,may b annuity or endowment, may incl benef for accident death/dismemberment, disability, protects against risk pf premature death which exposes a finNcial riskto family or busin...
Accelerated Benefits - ANSWERSRiders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - ANSWERSA policy rider that states that the cause of death will be analyzed to determine if it complies with the...
Preview 2 out of 9 pages
Add to cartAccelerated Benefits - ANSWERSRiders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - ANSWERSA policy rider that states that the cause of death will be analyzed to determine if it complies with the...
J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurab...
Preview 4 out of 35 pages
Add to cartJ has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurab...
To determine financial strength of an insurance company - ANSWERSPrimary purpose for a rating service company such as A.M best? Provide death benefits - ANSWERSPrimary reason for buying life insurance? Liquidity - ANSWERSWhat is described as an insurers ability to make unpredictable payouts to...
Preview 3 out of 20 pages
Add to cartTo determine financial strength of an insurance company - ANSWERSPrimary purpose for a rating service company such as A.M best? Provide death benefits - ANSWERSPrimary reason for buying life insurance? Liquidity - ANSWERSWhat is described as an insurers ability to make unpredictable payouts to...
Basic Medical Expense policies - ANSWERSProvide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy - ANSWERS...
Preview 3 out of 18 pages
Add to cartBasic Medical Expense policies - ANSWERSProvide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy - ANSWERS...
Upon completion of the application - ANSWERSAt what point must a life insurance applicant be informed of their rights to fall under the Fair Credit Reporting Act? Policyholders - ANSWERSWho elects the governing body of a mutual insurance company? Fair Credit Reporting Act - ANSWERSAn insurance...
Preview 2 out of 12 pages
Add to cartUpon completion of the application - ANSWERSAt what point must a life insurance applicant be informed of their rights to fall under the Fair Credit Reporting Act? Policyholders - ANSWERSWho elects the governing body of a mutual insurance company? Fair Credit Reporting Act - ANSWERSAn insurance...
What is the prerequisite for receiving a commission from an insurance transaction? - ANSWERSLicense for same type of insurance transaction. When would life ins. proceeds be taxable by the Federal government? - ANSWERSIf there is a transfer for value (policy is sold to another person) A qualifi...
Preview 3 out of 16 pages
Add to cartWhat is the prerequisite for receiving a commission from an insurance transaction? - ANSWERSLicense for same type of insurance transaction. When would life ins. proceeds be taxable by the Federal government? - ANSWERSIf there is a transfer for value (policy is sold to another person) A qualifi...
A special characteristic of insurance contract where equal value is not exchanged between parties is known as: - ANSWERSAleatory Life insurance contracts are ___ agreements - ANSWERSUnilateral What is the proper definition of "take it or leave it" contracts written by insurer? - ANSWERSAdhes...
Preview 2 out of 13 pages
Add to cartA special characteristic of insurance contract where equal value is not exchanged between parties is known as: - ANSWERSAleatory Life insurance contracts are ___ agreements - ANSWERSUnilateral What is the proper definition of "take it or leave it" contracts written by insurer? - ANSWERSAdhes...
The ownership provision entities the policy owner to do all of the following EXCEPT a) Assign the policy. b) Designate a beneficiary. c) Set premium rates. d) Receive a policy loan. - ANSWERSc) Set premium rates. The insurer sets premium rates based upon underwriting considerations. Whi...
Preview 3 out of 21 pages
Add to cartThe ownership provision entities the policy owner to do all of the following EXCEPT a) Assign the policy. b) Designate a beneficiary. c) Set premium rates. d) Receive a policy loan. - ANSWERSc) Set premium rates. The insurer sets premium rates based upon underwriting considerations. Whi...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller shantelleG. Stuvia facilitates payment to the seller.
No, you only buy these notes for $30.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
80461 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now