FIELD UNDERWRITING PROCEDURES
An investor buys a life policy on an elderly person in order to sell it for a life settlement. This is an example of...
A STOLI policy
An applicant is denied insurance because of information found on a consumer report. Which of the following requires that the insurance company supply the applicant with the name and address of the consumer reporting company?
Fair Credit Reporting Act
The MIB (Medical Information Bureau) was created to protect...
Insurance companies from adverse selection by high risk persons
A prospective insured recieves aa conditional receipt before the policy is issued. The insurerer will...
Pay the policy proceeds only if it would have issued the policy
When an agent collects the initial premium from the applicant, the agent should issue the applicant a...
Premium receipt
