chapter 5: field underwriting procedures

Which is true regarding obtaining underwriting sources?

The applicant must be informed of the sources contacted and how the information is being gathered.

which of the following is true about requirements regarding HIV exams?

The applicant must give prior informed written consent--exams results may be shared with underwriters but NOT agents

which of the following is true regarding health insurance underwriting for a person with HIV

The person may not be declined for medical coverage solely based on HIV status.

What is the term used for an applicants written request to an insurer for the company to issue a contract, based on the information provided?

application

what document describes an insured medical history, including diagnosis and treatments?

APS--attending physicians statement

To comply with Fair Credit Reporting Act, when must a producer notify an applicant that a credit report may be requested?

At the time of application

An applicant 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 insurer done by this point?

Neither approved the application nor issued the policy

Before a customer's agent delivers his policy, the insurer makes a last-minute change to the policy. The agent informs the customer of this change, and he accepts it. What must the agent do now?

The agent should ask the customer to sign a statement acknowledging that he is aware of the change.

An agent is in the process of replacing the insured's current health insurance policy with a new one. Which of the following would be a proper action?

The old policy should stay in force until the new policy is issued.

the insurance policy , together with the policy application and any added riders form what is know as

entire contract

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 check, answers any questions the applicant may have, and then leaves. What did he forget to do?

ask her to sign a statetment of good health

In a policy replacement situation, all of the following must be considered EXCEPT -benefits -limitations -exclusions -assets

assests

When delivering a policy, which of the fowling is an agents responsibility?

collect payment at tie of delivery

Under the Privacy Rule, protected information includes all individually identifiable health information

held or transmitted in any form

which of the following entities can legally bind coverage?

insurer

who must pay for the cost of a medical examination required in the process of underwriting?

insurer

underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reason EXCEPT a. premium always stay the same b. due to health , the policy may change dramatically c. pre-exssiting conditions that were previously covered may not be covered under the replacing policy. d. benefits may change

premiums always stay the same