Underwriter is - Study guides, Class notes & Summaries

PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Correct answer-A. mutual funds not paid out after paying claims and other operating costs are re...

Samuel is a commercial accounts underwriter working on a new application with five buildings located within the same territory. Samuel would like a photo of each building, and some nontechnical information about the condition of the parking lots and the neighboring buildings. Which one of the following would be the most reliable and cost effective source of this information? Answer - Marketing representative The principal purpose of underwriting is to Answer - Develop and maintain a profitabl...

Who is considered a field underwriter? - An agent When must insurable interest exist in life insurance? - Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - Policy delivery The Medical Information Bureau is?(MIB) - a source of medical information to alert insurers to adverse medical history A substandard risk compared to a standard risk would pay? - a higher premium Which document describes specifi...

Consumer reports requested by an underwriter during the application process of a life insurance policy can be used to determine - probability of making timely premium payments The purpose of these reports is to provide a picture of an applicant's general character and reputation, mode of living, finances, and any exposure to abnormal hazards. Which statement about a whole life policy is true - Cash value may be borrowed against When an individual is planning to protect his family with life...

Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the ️ Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a ️ Contract of adhesion Which one of the following best explains why producers sho...

CPCU Ethics Test Questions and Answers Already Passed Ethical behavior is based on reasoned consideration of all issues surrounding a conflict Morality is universal and basic to human relationships Maintaining high ethical standards is best associated with knowledge of law and regulations The Sarbanes-Oxley federal law requires that publicly traded companies identify principal ethics officers, create anonymous hotlines for reporting unethical behavior, and establish codes of ethic...

Well-structured ISR3702 Assignment 2 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). . (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... Question 1 (50 marks) Bantu Life Insurance Company received the following life insurance proposal from Chief Mlaudzi, who indicated that, because he lacked the necessary knowledge about life policies, the underwriter should select an appropriate policy for each person: 1.1 Indicate an appropriate life policy o...

Primerica Life Insurance Exam 2024 100% Passed An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Answer ️️ -A. mutual funds not paid out after paying claims and other operating costs are returned to the po...

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock (Ans- A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds are...

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...