insurance

If a telemarketer wants to make an unsolicited sales call to a potential customer, what is the earliest time the telemarketer can call the prospects residence?

8 am - 9pm

Which of the following documents delivered to the policyowner includes information about premium amounts, cash values, surrender values and death benefits for specific policy years?

A Policy Summary

All of the following our duties and responsibilities of producers at the time of application except:

Change any incorrect statement on the application by personally initialing next to the corrected statement

When would a misrepresentation on the insurance application be considered fraud?

If it is intentional and material.

Untrue statements on the application unintentionally made by insureds that, if discovered, would alter the underwriting decision of the insurance company, are called?

Material misrepresentations.

What was created to keep telemarketers from calling consumers who do not wish contacted?

National Do Not Call Registry

A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will:

Pay the policy proceeds only if it would have issued the policy

If an agent fails to obtain an applicant's signature on the application, the agent must

Return the application to the applicant for a signature

Upon policy delivery, the producer may be required to obtain any of the following EXCEPT

Signed Waiver of premium

What would provide an underwriter with information concerning an applicants health history?

The Medical Information Bureau (MIB)

All of the following are requirements for life insurance illustrations EXCEPT

They must be part of the contract

What is the purpose of the buyer's guide?

To allow the consumer to compare the costs of different policies.

Why should the producer personally deliver the policy when the first premium has already been paid?

To help the insured understand all aspects of the contract.

What do individuals use to transfer their risk of loss to a larger group?

insurance

What term describes the fee a person pays an insurance company to receive a coverage?

premium

Which of the following is a risk classification used by underwriters for Life Insurance?

standard

The National Do Not Call Registry was created to regulate

telemarketers