Unit 2 Checkpoint Exam

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

A

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) preferred B) standard C) substandard D) classified

A

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

A

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

A

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

B

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

B

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

B

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

B

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

C

Which of the following maintains underwriting information on applicants? A) HIPPA B) Investigative consumer reports C) Medical Information Bureau D) Consumer Reports

C

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

D

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

D