A.D. BANKER: Life & Health - Comprehensive Exam Updated Questions with 100% Correct Answers | Latest & Verified bundles
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Temporary Total Disability may be described as: - CORRECT ANSWER-Inability to return to any employment while recovering Supplementary Payment under Part A of the Personal Auto Policy? - CORRECT ANSWER-A Up to $250 for the cost of bail bonds B Payment for lost earnings up to $200/day C Medical p...
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Add to cartTemporary Total Disability may be described as: - CORRECT ANSWER-Inability to return to any employment while recovering Supplementary Payment under Part A of the Personal Auto Policy? - CORRECT ANSWER-A Up to $250 for the cost of bail bonds B Payment for lost earnings up to $200/day C Medical p...
A producer who is acting as an agent is representing: A The insured, the applicant and the beneficiary B Always the insured C The insured and the insurer D Always the insurer - CORRECT ANSWER-D In order to be valid, a contract must be between individuals considered legally able to enter in...
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Add to cartA producer who is acting as an agent is representing: A The insured, the applicant and the beneficiary B Always the insured C The insured and the insurer D Always the insurer - CORRECT ANSWER-D In order to be valid, a contract must be between individuals considered legally able to enter in...
Which insurer's owner receives taxable corporate dividends as a return of profit? - CORRECT ANSWER-Stock To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: - CORRECT ANSWER-Reinsure the risk The direct writing distribution mod...
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Add to cartWhich insurer's owner receives taxable corporate dividends as a return of profit? - CORRECT ANSWER-Stock To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: - CORRECT ANSWER-Reinsure the risk The direct writing distribution mod...
Legally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. - CORRECT ANSWER-Fiduciary It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. - CORRECT A...
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Add to cartLegally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. - CORRECT ANSWER-Fiduciary It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. - CORRECT A...
Dividends if declared are paid: A. Annually B. Semi-annually C. Monthly D. Quarterly - CORRECT ANSWER-A. Annually An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the ...
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Add to cartDividends if declared are paid: A. Annually B. Semi-annually C. Monthly D. Quarterly - CORRECT ANSWER-A. Annually An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the ...
Insurers - CORRECT ANSWER-(Insurance Companies or Carriers) provide insurance coverage by issuing particular insurance policies or contracts Insurance Agencies - CORRECT ANSWER-Independent sales organizations that provide service and distribute insurance policies to consumers Insurance Agents or...
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Add to cartInsurers - CORRECT ANSWER-(Insurance Companies or Carriers) provide insurance coverage by issuing particular insurance policies or contracts Insurance Agencies - CORRECT ANSWER-Independent sales organizations that provide service and distribute insurance policies to consumers Insurance Agents or...
Which of the following situations will require proof of insurability? - CORRECT ANSWER-Adjusting the face amount up on a Universal Life insurance policy with Option A death benefit selected Sean has a home with a mortgage. He needs life insurance to protect his family but also wants to leave the...
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Add to cartWhich of the following situations will require proof of insurability? - CORRECT ANSWER-Adjusting the face amount up on a Universal Life insurance policy with Option A death benefit selected Sean has a home with a mortgage. He needs life insurance to protect his family but also wants to leave the...
John is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? A. ABC Insurance B. None C. John D. Jane - CORRECT ANSWER-A. ABC Insurance In an insurance contract the value that each party gives the other is said to be the: A. Subject matter B...
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Add to cartJohn is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? A. ABC Insurance B. None C. John D. Jane - CORRECT ANSWER-A. ABC Insurance In an insurance contract the value that each party gives the other is said to be the: A. Subject matter B...
A person who negotiates insurance contracts with insurers on behalf of an applicant is known as a(n): a. Broker b. Consultant c. Advisor d. Agent/Producer - CORRECT ANSWER-a. Broker The contract type in which only one party is legally bound to its contractual obligations after a premium is pa...
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Add to cartA person who negotiates insurance contracts with insurers on behalf of an applicant is known as a(n): a. Broker b. Consultant c. Advisor d. Agent/Producer - CORRECT ANSWER-a. Broker The contract type in which only one party is legally bound to its contractual obligations after a premium is pa...
The field underwriter is the _________ and is not a determiner of insurability. - CORRECT ANSWER-Producer The insurance industry is primarily regulated at the _________ level. - CORRECT ANSWER-State A contract that is drafted by an insurer and receives no input or alteration from the insured, i...
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Add to cartThe field underwriter is the _________ and is not a determiner of insurability. - CORRECT ANSWER-Producer The insurance industry is primarily regulated at the _________ level. - CORRECT ANSWER-State A contract that is drafted by an insurer and receives no input or alteration from the insured, i...
Until yesterday, J. J. worked for his father's company and was covered by the company's large group health plan. He stopped working to go to college. He is 26 years of age and wants to keep the same coverage until he earns his degree in approximately 24 months. Which of the following statements...
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Add to cartUntil yesterday, J. J. worked for his father's company and was covered by the company's large group health plan. He stopped working to go to college. He is 26 years of age and wants to keep the same coverage until he earns his degree in approximately 24 months. Which of the following statements...
All of the following are true in general about riders, except: A) A rider can modify conditions of the policy by expanding or decreasing its benefits B) Riders are optional C) All riders are provided for as long as the policy is in effect D) Riders typically are available for an additional prem...
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Add to cartAll of the following are true in general about riders, except: A) A rider can modify conditions of the policy by expanding or decreasing its benefits B) Riders are optional C) All riders are provided for as long as the policy is in effect D) Riders typically are available for an additional prem...
B decides to buy a single premium immediate annuity, choosing the Life Only distribution option. How long will the insurer make payments to B? A For B's lifetime or until the principal and interest are exhausted, whichever is shorter B For the period of time it takes B to recover the initial ...
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Add to cartB decides to buy a single premium immediate annuity, choosing the Life Only distribution option. How long will the insurer make payments to B? A For B's lifetime or until the principal and interest are exhausted, whichever is shorter B For the period of time it takes B to recover the initial ...
Which of the following perils would be covered under a Dwelling policy? A Water discharged by a plumbing failure B Overflow of water from a sump pump C Water accumulating below the surface of the ground D Water leakage in a driveway - CORRECT ANSWER-A Water discharged by a plumbing failure Whi...
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Add to cartWhich of the following perils would be covered under a Dwelling policy? A Water discharged by a plumbing failure B Overflow of water from a sump pump C Water accumulating below the surface of the ground D Water leakage in a driveway - CORRECT ANSWER-A Water discharged by a plumbing failure Whi...
Warranty - CORRECT ANSWER-An applicant makes a statement on the insurance application which becomes part of the contract that she has an alarm system which qualifies her for a premium discount. This statement is considered a ________. Consideration - CORRECT ANSWER-In an insurance contract, the ...
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Add to cartWarranty - CORRECT ANSWER-An applicant makes a statement on the insurance application which becomes part of the contract that she has an alarm system which qualifies her for a premium discount. This statement is considered a ________. Consideration - CORRECT ANSWER-In an insurance contract, the ...
Damage to your neighbors crops as a result of your livestock getting out and continuously tampling them is an example of: - CORRECT ANSWER-Occurence An example of the kind of property, with endorsement, which can be insured for an amount greater than its actual cash value, would be a: - CORRECT ...
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Add to cartDamage to your neighbors crops as a result of your livestock getting out and continuously tampling them is an example of: - CORRECT ANSWER-Occurence An example of the kind of property, with endorsement, which can be insured for an amount greater than its actual cash value, would be a: - CORRECT ...
An employer may require a former employee who has COBRA coverage to pay up to _____% of the premium. - CORRECT ANSWER-102 Accidental Injury is a: - CORRECT ANSWER-Sudden, unexpected and unforeseen event Albert owned a $100,000 policy that had accumulated a cash value of $20,000, against which h...
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Add to cartAn employer may require a former employee who has COBRA coverage to pay up to _____% of the premium. - CORRECT ANSWER-102 Accidental Injury is a: - CORRECT ANSWER-Sudden, unexpected and unforeseen event Albert owned a $100,000 policy that had accumulated a cash value of $20,000, against which h...
Which rating method listed below is established by the underwriter? A. Manual rating B. Retrospective rating C. Individual rating D. Judgment rating - CORRECT ANSWER-D. Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by t...
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Add to cartWhich rating method listed below is established by the underwriter? A. Manual rating B. Retrospective rating C. Individual rating D. Judgment rating - CORRECT ANSWER-D. Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by t...
Premises and Operations - CORRECT ANSWER-exposure under a general liability policy applies to an insured business that conducts its operations both at its own premises and elsewhere. Products Exposure - CORRECT ANSWER-under a GL policy applies to the bodily injury property damage caused by any...
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Add to cartPremises and Operations - CORRECT ANSWER-exposure under a general liability policy applies to an insured business that conducts its operations both at its own premises and elsewhere. Products Exposure - CORRECT ANSWER-under a GL policy applies to the bodily injury property damage caused by any...
Accident - CORRECT ANSWER-A sudden, unforeseen, unintended, and unplanned event from which loss or damage results. Occurrence - CORRECT ANSWER-An accident includes continuous or repeated exposure to the same general harmful conditions. Cancellation - CORRECT ANSWER-The termination of an insuranc...
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Add to cartAccident - CORRECT ANSWER-A sudden, unforeseen, unintended, and unplanned event from which loss or damage results. Occurrence - CORRECT ANSWER-An accident includes continuous or repeated exposure to the same general harmful conditions. Cancellation - CORRECT ANSWER-The termination of an insuranc...
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