Chapter 1

This part of the application provides information about an applicant's financial condition and character, as well as the prupose of sales and how long the agent has known the applicant:

Agent's report

An insurer that automatically gives coverage upon receipt of an apllication and the premiuim has given wich of the following to the applicant

Conditional receipt

In an insurance contract, consideration refers to...

Exchange if something of value by both parties

which of the following laws requires and Assurance company to notify an applicant in writing that investigative Consumer Report may be initiated

Fair Credit Reporting Act

When may a statement of good health be required?

When no premium is paid with the application

This document provides information about an applicant's mide of living, fianances, and exposure to abnormal hazards.

Inspection report

Which of the following a best describes the purpose of the USA PATRIOT Act with regards to the insurance industry?

To prevent terriosm activiites of financial transactions

what guarantees that the information explained in the insurance contract is true?

a warranty

which of the following is a term for a person who seeks insurance coverage from an insurer?

applicant

which of the following would qualify as a suspicious transaction and would require the filing of an SAR

multiple wire transfers from the account in the amount of $5,000

if a medical report is required during the underwriting process , who must complete the report?

paramedic or physician

all of the following may need to sign a life insurance application except

policy owner