CHAPTER 6 LIFE INSURANCE
Marital status
All of these are considered key factors in underwriting life insurance EXCEPT
Disclosure authorization response
All of these are typically sources of underwriting information for life or health insurance EXCEPT
Blood test for HIV
An insurer has a right to screen applicants for HIV in which of the following ways?
6
How many months can a life insurance policy normally be backdated from the date of application?
genetic testing
Underwriters can acquire information from all of the following sources EXCEPT
Completing all applications and collecting initial premiums
Which of the following would be considered an underwriting duty of an agent?
an economic interest exists for the continuance of the insured's life
An individual most likely will have an insurable interest in insuring a person's life if
preferred risk
An insurance applicant with a below-average likelihood of loss is typically considered to be a
an initial made by the applicant
A change in an insurance application requires
to ensure an applicant's medical information is accurate and complete
A field underwriter's main task is
Making the policy effective on an earlier date than the present
What is involved when a life insurance policy has been backdated?
Insurer
Which of the following signatures is not required on an individual insurance application?
Number of children
Which of these is NOT considered to be a risk factor in life insurance underwriting?
Policy summary
Which of these is considered to be a document that describes the critical segments of a life insurance policy?
Preferred
A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification?
fraud
An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of
At the request of the insurer to assist in the underwriting decision
An attending physician's statement would be appropriate for which life insurance purpose?
National Association of Insurance Underwriters (NAIU) The National Association of Insurance Underwriters is NOT a source of information that may aid an underwriter in determining whether to underwrite a risk.
All of these are considered sources of information that can assist an underwriter in determining whether or not to accept a risk EXCEPT
better than average mortality or morbidity experience
Preferred risk policies with reduced premiums are issued by insurance companies because the insured has
To help underwriters evaluate risk
What is the purpose of the Medical Information Bureau (MIB)?
INSURER
Which of the following signatures is not required on an individual insurance application?