CHAPTER 2 QUIZ Q's

All of the following are duties and responsibilities of producers at the time of application EXCEPT

change any incorrect statement on the application by personally initialing next to the correct statement - any changes must be initialed by applicant

Upon policy delivery, the producer may be required to obtain any of the following EXCEPT

signed waiver of premium

If an insurer issued a policy based on the application that had unanswered questions, which of the following will be TRUE?

the policy will be interpreted as if the insurer waived its right to an answer on the application

for what reason may a life insurance producer backdate a life insurance policy

to avoid increase in premium rate for the insured

Why should the producer personally deliver the policy when the first premium has already been paid?

to help the insured understand all aspects of the contract