POL & life study guide

Fair Credit Reporting Act

An applicant is denied insurance because of information found on a consumer report what requires that the insurance company supplies application with the name and address of the consumer reporting company

The date of medical exam

An individual applied for an insurance policy and paid the initial premium. The insurer issued a conditional receipt. Five days later the applicant had to submit to a medical exam. If the policy is issued, what would be the policy's effective date?

With the policy

If a policy includes a free-look period of at least 10 days, the Buyer's Guide may be delivered to the applicant no later than

Return the application to the applicant for a signature

If an agent fails to obtain an applicant's signature on the application the agent must

As of the application date

The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective?

Selection, classification, and rating of risks

What best details the underwriting process for life insurance?

Buyer's Guide

What is generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process

application

What is the basic source of information used by the company in the risk selection process?

To explain features and benefits of a purposed policy to the customer

What is the purpose of a disclosure statement in life insurance policies?

National Do Not Call Registry

What was created to keep telemarketers from calling customers who do not wish to be contacted?

Consumer report

What will provide the underwriter with the information about an insurance applicant credit?

Calls based from outside of the United States

What would NOT be considered an exception to the National Do Not Call List?

If it is intentional and material

When would a misrepresentation on the insurance application be considered fraud?

Return the application to the applicant for completion

Which is the appropriate action by the insurer if a prospective insured submitted an incomplete application?