Conditional receipt - Study guides, Class notes & Summaries

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024 1. A life insurance company is organized in Orlando where it maintains its home office. In Florida, the company is classified as a a. domestic company b. local company c. foreign company d. preferred company a 2. With regard to life insurance, all of the following statements are correct EXCEPT a. all individuals are considered to have insurable interests i...

Florida Insurance Exam | Questions And Answers 100% Correct Answers | 2024 Updated Study Solutions The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? Conditional A life i...

XCEL Life Underwriting & Annuities Questions and Answers Already Passed Which of the following statement is CORRECT about an agent who is taking an insurance application? The agent should have the applicant initial any changes made on the application Agent J takes an application and initial premium from an applicant and sends the application and premium check to the insurance company. The insurance company returns the check back to J because the check is made out to J instead of the insurance ...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - Answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

Florida Life Insurance Questions and Answers Already Passed the receipt given to a life insurance applicant when the application is completed and the initial premium is recieved is called an Insurable Receipt Conditional receipt unconditional receipt ensuring receipt conditional receipt Statements in the app that are believed to be true warranties representations waivers ambiguties warranties All of the following apply to the waiver of premium EXCEPT the premium is waived only if the i...

has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - ANS C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the po...

P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - ANSWERB A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investment contract C.endowment D.annuity - ANSWERD An insurance p...

When completing the application, the agent would be expected to do all of the following EXCEPT? Ans- Set the final rates for the new policy If after completing the application the agent finds that a question was missed. The agent should? Ans- Schedule another appointment with the applicant to properly complete the application All of the following must sign the application EXCEPT? Ans- The underwriter or beneifciary If the agent collects the initial premium with the application and co...

OKLAHOMA LIFE AND HEALTH EXAM 2024 WITH 100% CORRECT ANSWERS A licensee MUST notify the Commissioner of an address change within _______ days of the change. - correct answer 30 Which of the following statements accurately describes the "time limit on certain defenses"? - correct answer After a stated period of time, claims cannot be denied due to material misrepresentation on the application All of these are duties that a producer may be required to perform when delivering an insura...