Exam (elaborations)
TEXAS LIFE AND HEALTH - CHAPTER #5 FIELD UNDERWRITING PROCEDURES EXAM QUESTIONS AND ANSWERS
- Course
- Institution
TEXAS LIFE AND HEALTH - CHAPTER #5 FIELD UNDERWRITING PROCEDURES EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
TEXAS LIFE AND HEALTH - CHAPTER#5 FIELD UNDERWRITING
PROCEDURES EXAM QUESTIONS AND
ANSWERS
Whose responsibility is it to determine all of the questions in an application have been
answered? - Answer-The agent
The insurance policy, together with the policy application and any added riders form
what is known as - Answer-The entire contract
An agent makes a mistake on the application and then corrects his mistake by
physically entering the necessary information. Who must then initial that change? -
Answer-Applicant
What is the term used for an applicant's written request to an insurer for the company to
issue a contract, based on the information provided? - Answer-Application
An agent is ready to deliver a policy to an applicant but has not yet received payment.
Upon delivery, the agent collects the applicant's premium checks, answers any
questions the applicant may have, and then leaves. What did he forget to do? - Answer-
Ask her to sign a statement of good health
When delivering a policy, which of the following is an agent's responsibility? - Answer-
Collect payment at the time of delivery
In a replacement situation, all of the following must be considered except - Answer-
Assets
An application for a health insurance policy returns a completed application to her
agent, along with a check for the first premium. She receives a conditional receipt two
weeks later. Which of the following has the insured done by this point? - Answer-Neither
approved the application nor issued the policy
An insurer is attempting to determine the insurability of an application and decides to
obtain medical information from several different sources. Which entity must be notified
of the investigation? - Answer-The applicant
What is the best way to change an application? - Answer-Start over with a fresh
application
If an applicant does not receive a copy of the new insurance policy, who would be held
responsible? - Answer-The agent
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller biggdreamer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
