L/H UNIT 2 CHECKPOINT

C) the date that the policy was issued

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 Molly sent in her application B) the date that the policy was approved by the insurer C) the date that the policy was issued D) the date that the agent first met with Molly to discuss her options

D) Part 1

An applicant's name, address, date of birth, and gender are all included in which part of the application? A) Part 2 B) Part 3 C) Both Part 1 and Part 2 D) Part 1

D) 6 months

Most state laws allow life insurance applications to be backdated up to A) 1 month B) 3 months C) 12 months D) 6 months

A) the applicant's sexual orientation can be used during the underwriting process to determine insurability

All of the following statements about AIDS considerations during the underwriting process are correct EXCEPT A) the applicant's sexual orientation can be used during the underwriting process to determine insurability B) if results are positive, a report is sent to the MIB C) AIDS testing is paid for by the insurer D) AIDS testing can be required with the applicant's written consent

A) the applicant

Changes in an insurance application must be initiated by A) the applicant B) the agent and applicant C) the insurer D) the agent

D) income

Insurers cannot discriminate between individuals in all of the following EXCEPT A) place of residence B) race C) religion D) income

B) preferred

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) standard B) preferred C) substandard D) classified

D) only the producer

The producer's report will be signed by A) only the insurer B) the agent and insurer C) the producer and agent D) only the producer

C) USA PATRIOT Act

Which of the following is designed to deter terrorist activity, both globally and in the US in particular? A) ERISA B) STOLI C) USA PATRIOT Act D) IOLI

A) Medical Information Bureau

Which of the following maintains underwriting information on the applicant? A) Medical Information Bureau B) consumer reports C) HIPAA D) investigative consumer reports

C) income

Which of the following would not be included in the second part of an insurance application? A) current medical treatments B) tobacco usage C) income D) height and weight

D) the insurer

Who pays for medical exams and any tests that are required during the underwriting process? A) the applicant and insurer B) the agent C) the applicant D) the insurer