Life Unit 2: Check Point Exam
Which of the following is designed to deter terrorist activity, both globally and in the United States in particular? a. ERISA b. IOLI c. STOLI d. USA PATRIOT Act
d. USA PATRIOT Act
Insurers cannot discriminate between individuals in all of the following EXCEPT a. race b. religion c. place of residence d. income
d. income
Changes in an insurance application must be initialed by a. the agent b. the agent and the applicant c. the insurer d. the applicant
d. the applicant
All of the following statements about AIDS considerations during the underwriting process are correct EXCEPT a. if results are positive, a report is sent to the MIB b. AIDS testing is paid for by the insurer c. AIDS testing can be required with the applicant's written consent d. the applicant's sexual orientation can be used during the underwriting process to determine insurability
d. the applicant's sexual orientation can be used during the underwriting process to determine insurability
Which of the following would NOT be included in the second part of an insurance application? a. income b. height and weight c. tobacco usage d. current medical treatments
a. income
An applicant's name, address, date of birth, and gender are included in which part of the application? a. part 1 b. part 2 c. both part 1 and part 2 d. part 3
a. part 1
Marty has excellent health and no history of any medical conditions. Which of the following classifications would Marty most likely be placed in during underwriting? a. preferred b. classified c. substandard d. standard
a. preferred
Which of the following maintains underwriting information on applicants? a. investigative consumer reports b. medical information bureau c. consumer reports d. HIPA
b. Medical Information Bureau
Most state laws allow life insurance applications to be backdated up to a. 12 months b. 3 months c. 6 months d. 1 month
c. 6 months
The producer's report will be signed by a. the producer and agent b. the agent and insurer c. only the producer d. only the insurer
c. only the producer
Molly sends in her application for insurance, but does not pay the first premium. She paid her first premium when the policy was delivered. When would the effective date of coverage be? a. the date that the policy was approved by the insurer b. the date that the agent first met with Molly to discuss her options c. The date that the policy was issued d. the date that Molly sent in her application
c. the date that the policy was issued
Who pays for medical exams and any tests that are required during the underwriting process? a. the agent b. the applicant and the insurer c. the insurer d. the applicant
c. the insurer