Texas Life and Health: 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 the requirements regarding HIV exams?

The applicant must give prior informed written consent

Which of the following is true regarding health insurance underwirting for a person with HIV?

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

Underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reasons EXCEPT

Premiums always stay the same

An agent makes a mistake on the application and then corrects his mistake by physically entering the necessary information. Who must then intial that change?

Applicant

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

Application

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 statement of good health - if the premium is not collected until the policy is delivered, the agent must receive a statement of good health, which acknowledges that the insured's health status has not changed since the policy was approved.

in a replacement situation, all of the following must be considered EXCEPT

Assets

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

At the time of application

When deliverying a policy, which of the following is an agent's responsibility?

Collect payment at the time of delivery

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

Entire contract

Which of the following entities can legally bind coverage?

Insurer

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

Insurer

If an applicant does not received a new insurance policy, who would be held responsible?

The Agent

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.

under the Privacy Rule for HIPAA, protected information includes all individually identifiable health information

held or transmitted in any form

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 insuer done by this point?

neither approved the application nor issued the policy - when the agent receives the application and issues a conditional receipt, the insurer has not yet approved the application and issued the policy