Best describe the mib - Study guides, Class notes & Summaries

Primerica Chapter 1 questions and answers already solved 2023What do individuals use to transfer their risk of loss to a larger group? Insurance Best Describe the MIB Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? Consideration The term "illustration" in a life insuran...

North Carolina XCEL Testing Life & Health Insurance Exam 2023/2024 1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- ...

North Carolina XCEL Testing Life & Health Insurance Exam 2023/2024 1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- ...

Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who full...

Primerica Chapter 1 questions with complete answers What do individuals use to transfer their risk of loss to a larger group? Insurance Best Describe the MIB Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? Consideration The term "illustration" in a life insurance polic...

1. Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated:: Ans- 1970 - Fair Credit Reporting Act 2. What type of reinsurance contract involves two companies automatically sharing their risk exposure?: Ans- Treaty 3. What is the name of the law that requires insurers to disclose information gathering practices and where the information was obtained?: Ans- Fair Credit Re- porting Act 4. Who elects the governing body of a m...

Primerica Chapter 1 questions and answers 100% correctWhat do individuals use to transfer their risk of loss to a larger group? Insurance Best Describe the MIB Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? Consideration The term "illustration" in a life insurance poli...

What do individuals use to transfer their risk of loss to a larger group? - Ans - Insurance Best Describe the MIB - Ans - Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? - Ans - Consideration The term "illustration" in a life insurance policy refers to... - Ans - A presentatio...

Tennessee Health Exam questions and answers 100% verified. What are the 4 elements of an insurance contract? - correct answers.The elements of this are: Agreement - Offer and Acceptance Consideration Competent Parties Legal Purpose How can an insurance company use the information it obtains from the MIB? - correct answers.The information from this can be used to conduct further investigation into an applicant's current insurability. Explain the concept of coverage o...

PRIMERICA CHAPTER 1 QUESTIONS AND ANSWERS A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will... - ANSWER-Pay the policy proceeds only if it would have issued the policy .An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - ANSWER-Aleatory .An Insurer neglects to pay a legitimate claim that...