Life insurance CE Study Guide Exam Questions And Actual Answers.
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Course
CT 109890
Institution
CT 109890
Brokers are thought of as representatives of which party? - Answer The insured
When underwriting insurance for clients, underwriters need to know which of the following? - Answer The risks the client is involved in and methods for dealing with those risks
Applicants are rejected by unde...
Life insurance CE Study Guide Exam
Questions And Actual Answers.
Brokers are thought of as representatives of which party? - Answer The insured
When underwriting insurance for clients, underwriters need to know which of the following? - Answer
The risks the client is involved in and methods for dealing with those risks
Applicants are rejected by underwriters for which reason? - Answer They represent a risk that falls
outside of standards set by the insurance company.
Why do professional liability and errors and omissions applications require so much detailed
information? - Answer Because the insurer could be covering a high amount of risk
Which of the following describes an occasion when intentional losses are insurable? - Answer None of
the answers supplied are correct.
Which of the following is NOT a method used by the states to set property and casualty rates? - Answer
Flex-and-file laws
Which party has the final say on if an investigative report is to be prepared? - Answer The applicant
Professional liability and errors and omissions applications require what? - Answer More information
than most other applications
Replacing rotting boards so that no one gets hurt would be which of the following? - Answer
Preventing a risk
How do applications for individual insurance policies compare to applications for group insurance
policies? - Answer Group insurance applications are usually simpler.
,Which of the following is true of the lines covered by most property and casualty underwriters? - Answer
They either underwrite personal or commercial lines.
Which of the following current technological advancements looks like it will have a significant effect of
discrimination laws? - Answer Genetic information mapping
The job of an underwriter is to do which of the following? - Answer Evaluate the subject seeking
insurance
Which of the following is illegal to use as a factor in determining automobile insurance rates? - Answer
Race
Which of the following losses would be insurable? - Answer A definable loss
How do group health insurance applications compare to individual health insurance options? - Answer
Group health insurance applications are often simpler
An underwriter that would use medical history to evaluate a client's insurability would most likely be
which of the following? - Answer A life and health underwriter
Which of the following regulates credit and consumer reports? - Answer The Fair Credit Reporting Act
States have placed regulations on property-casualty insurance in order to prevent which of the
following? - Answer All of the answers supplied are correct
Ocean marine insurance is intended to cover which of the following? - Answer Goods transported over
the ocean
Which of the following is NOT one of the three hazards discussed in this course? - Answer Material
hazards
, Life insurance applications do not generally require which of the following? - Answer A list of the
client's safe/mundane hobbies
An agent's role in the underwriting process typically revolves around which of the following? - Answer
All of the answers supplied are correct
When is a policy no longer in need of underwriting? - Answer None of the answers supplied are correct
At its most basic level, the purpose of underwriting is to decide which of the following? - Answer
Whether or not the client is worth insuring
When acting as a broker, a producer owes a much higher standard of care to which of the following? -
Answer The insured
How does an agent's standard of care change after they have been handling a client's business for an
extended period of time? - Answer The client and agent may be considered in a special relationship
which may mean a higher standard of care is expected
Local agents are thought of as representatives of which party? - Answer The insurer
Agents that are considered "actual agents" have what type of authority from the insurer? - Answer
Express or implied authority
Negligence on the part of the agent towards the INSURER typically involves which of the following? -
Answer Offering coverage that holds the insurer liable and for which they suffer a loss
If a policy is ambiguous on a certain point, which party is most likely to get the benefit of the doubt? -
Answer The policyholder
Which of the following is not a kind of producer described in this course? - Answer Corporate agents
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