✅COPY🟩EZ-🟨🟦

Cross the incorrect answer out, write the correct one beside it, and initial the answer.

🔴 When filling out an application for insurance, the applicant makes a mistake. If a fresh application were not available, what could the applicant do to properly correct the mistake?

It is temporary protection ...(🔷LT🗓️)

🔴 Which of the following is TRUE of 🔷 LEVEL TERM🗓️ insurance?

The Commissioner🕵 is ELECTED to the office.

🔴 Which of the following statements is CORRECT regarding the 🔷 Commissioner of Insurance in this state?

15 business days💈...(R.🗣️ to Com.)

🔴 every licensed person must 🔷 REPLY 🗣️ to inquiry by COMMISSIONER regarding business of insurance within ⭐️ what time period ?

TWISTING ...("DETRIMENT")

🔴 type of MISREPRESENTATION, PERSUADE insured to detriment, cancel, lapse, or switch policies from one to another

Cancer

🔴A 🔷 Dread Disease policy would cover WHICH of the following?

Insurer ...(❌ ✍️ 📝)

🔴All of the following must sign an application for health insurance EXCEPT ❌ the

The 🔷Cash Value💸 will be paid to Annuitant's Estate🏡

🔴The annuity owner Dies☠️ during the accumulation period without naming a beneficiary. Annuity's 🔷Cash Value💸 ⭐️EXCEEDS 🔷Premiums💰 paid. Which of the following is TRUE?

The face amount is paid to the insured.

🔴What HAPPENS to the 🔷Face Amount☠️💰 of a Whole Life policy⛑️ if the insured reaches the AGE👴 of 100?

As a fiduciary

🔴When agents, brokers, or solicitors HANDLE PREMIUMS💰 for an insurer, they are ⭐️ ACTING in which CAPACITY?

0%

Illegal Occupation provision, what percentage of the claim will be paid?

Survivorship life

🔴 "SECOND-to-die" ?

It allows the owner to SURRENDER🙅‍♀️ Annuity WITHOUT a CHARGE ❌ ...(📝BAIL-OUT)

🔴 Best describes a 🔷 BAIL-OUT Provision📝?

Each party relies upon the TRUTHFULNESS of the other.

🔴 For an insurance contract, the 🔷 principle of utmost good faith means

Suggesting negotiations in settling the claim ...(❌unfair)

🔴 All of the following are unfair claims settlement practices EXCEPT ❌

Fraternal insurer.

🔴 An insurer that operates for one or more social, educational, charitable, benevolent, or religious purposes for the benefit of its members is known as a

Attending Physician's Statement

🔴 An underwriter is reviewing an applicant with an extensive medical history. Which of the following would give the underwriter a better understanding of how the applicant has been treated for various illnesses?

Period of time during which Accumulated money is CONVERTED🔄 into Income Payments💸

🔴 Annuity Period📅?

Increase the likelihood of a LOSS😥 occurring

🔴 HAZARDS⚠️ are conditions or situations that

Ancestry ...(~❌📊ℹ️ )

🔴 If an insurance company wishes to order a CONSUMER REPORT📊 on an applicant to assist in the UNDERWRITING📝 process, and if a notice of insurance information practices has been provided, the REPORT📊 may contain ALL of the following 🔷 INFORMATIONℹ️ EXCEPT ❌ the Applicant's

Certificate of insurance

🔴 In an employer GROUP🏘️ health insurance plan, the covered 🔷 EMPLOYEE receives

STOCK insurers are owned by the SHAREHOLDERS and issue NONPARTICIPATING policies.

🔴 In contrasting 🔷 STOCK insurers with 🔷 MUTUAL insurers, which statement is TRUE?

Mode of premium payment.

🔴 In health insurance, the length of the grace period varies according to the

A percentage of the cost of service that the insured and the insurer share

🔴 In health insurance, what is 🔷 COINSURANCE?

The beneficiary ...(~❌⛑️Int.)

🔴 In life insurance, which of the following is NOT❌ required to have an 🔷 INSURABLE INTEREST in the insured?

Is suitable

🔴 In making an 🔷 ANNUITY RECOMMENDATIONS to a consumer the ⭐️ PRODUCER👩‍💼 must have reasonable grounds to BELIEVE that the ANNUITY

TRANSFER a loss

🔴 Insurance provides a means to

It determines if the insurance policy is a 🔷MEC📝7️⃣

🔴 PURPOSE of Seven-pay Test?

Entire Contract Provision

🔴 The Uniform Provision Law that prevents an insurance company from altering its agreement with a policyholder by referring to DOCUMENTS or other items NOT❌ contained in the policy is called the

Prospective and concurrent review.

🔴 Utilization management consists of an evaluation of the appropriateness, necessity and quality of health care, and may include

Policyowner

🔴 WHO can request CHANGES in 🔷 premium payments, face value, loans, and policy plans?

The person who PURCHASES the Annuity

🔴 WHO is the Annuity OWNER?

Warranty

🔴 What GUARANTEES that the information ℹ️ explained in the insurance contract is TRUE?

It eliminates the imposition of a SECOND Elimination Period for the SAME disability.

🔴 What advantage does the 🔷 "RECURRENT DISABILITY♿️" provision provide to the insured under a disability income policy?

Premium💰 Payment💸 Period📅

🔴 What is the DIFFERENCE between a 🔷 Straight Life policy and a 🔷 ⭐️"20-pay" Whole Life policy?

$500,000

🔴 What is the MAXIMUM death benefit that the 🔷 Life and Disability Insurance Guaranty Association will pay for an insolvent insurer?

It determines who receives policy benefits if the PRIMARY beneficiary is DECEASED☠️

🔴 What would be an advantage to naming a ⭐️ CONTINGENT (or secondary) beneficiary in a life insurance policy?

Seeking CREDIBLE information ℹ️ about an applicant for health insurance.

🔴 When acting as a field UNDERWRITER✍️, a ⭐️ PRODUCER👩‍💼 is