AD Banker-Health Insurance Exam Questions
With Correct Answers
Domicile |- |CORRECT |ANSWER✔✔-refers |to |the |jurisdiction |where |an |insurer |was |formed |or |
incorporated.
Consideration |- |CORRECT |ANSWER✔✔-In |a |legal |sense, |premium |functions |as |the |insured's
Judicial |Branch |- |CORRECT |ANSWER✔✔-The |judicial |branch |is |responsible |for |interpreting |and |
determining |the |constitutionality |of |the |statutes.
A |Certificate |of |Authority |- |CORRECT |ANSWER✔✔-What |gives |an |insurer |the |authority |to |
operate |within |this |state?
Indemnity |- |CORRECT |ANSWER✔✔-Which |principle |states |that |an |insured |may |be |reimbursed |
up |to |the |amount |of |the |actual |loss?
Conditional |Contract? |- |CORRECT |ANSWER✔✔-A |contract |in |which |both |parties |must |perform |
specified |duties |in |order |for |the |contract |to |remain |enforceable
Contract |of |Adhesion |- |CORRECT |ANSWER✔✔-A |contract |that |is |drafted |by |an |insurer |and |
receives |no |input |or |alteration |from |the |insured, |is |considered |a(n)
National |Association |of |Insurance |Commissioners |(NAIC): |- |CORRECT |ANSWER✔✔-does |not |
have |legal |authority |over |insurance |regulation, |but |promotes |uniformity |in |the |interpretation |
of |insurance |legislation |and |regulation.
, medical |or |physical |exam |request |- |CORRECT |ANSWER✔✔-paid |for |by |the |insurer |and |does |
not |require |written |consent |under |the |FCRA. |A |written |statement |from |the |applicant's |doctor |
explaining |treatment |for |a |preexisting |condition |is |an |attending |Physician's |statement. |The |
medical |exam |is |completed |by |usually |a |registered |nurse |or |a |paramedical |professional |and |
includes |checking |vitals, |height, |weight, |and |collecting |blood |and |urine |samples.
At |the |time |of |policy |delivery, |the |producer |has |been |informed |there |is |a |change |in |the |
insured's |health |status. |If |the |premium |has |not |been |collected, |the |producer |should: |- |
CORRECT |ANSWER✔✔-Return |the |policy |to |the |insurer |for |further |underwriting
Before |a |policy |will |be |issued, |an |insurable |interest |must |exist |between |the |owner |(applicant) |
and |the |- |CORRECT |ANSWER✔✔-the |owner |(applicant) |and |insured.
Probationary |period |- |CORRECT |ANSWER✔✔-The |specified |period |that |must |elapse |before |
new |coverage |is |effective |for |nonaccidental |losses |is |known |as |which |of |the |following?
Consumer |Investigative |Report |- |CORRECT |ANSWER✔✔-general |report |of |the |applicant's |
finances, |character, |morals, |work, |hobbies |and |other |habits. |It |is |sometimes |called |an |
Inspection |Report.
If |an |application |is |submitted |with |a |question |left |unanswered, |which |of |the |following |should |
occur? |- |CORRECT |ANSWER✔✔-The |insurer |would |require |an |answer |before |issuing |a |policy
MIB |- |CORRECT |ANSWER✔✔-was |created |in |order |to |alert |insurer |home |office |underwriters |of
|errors, |omissions, |or |misrepresentations |made |on |insurance |applications.
A
The |agent's |report
With Correct Answers
Domicile |- |CORRECT |ANSWER✔✔-refers |to |the |jurisdiction |where |an |insurer |was |formed |or |
incorporated.
Consideration |- |CORRECT |ANSWER✔✔-In |a |legal |sense, |premium |functions |as |the |insured's
Judicial |Branch |- |CORRECT |ANSWER✔✔-The |judicial |branch |is |responsible |for |interpreting |and |
determining |the |constitutionality |of |the |statutes.
A |Certificate |of |Authority |- |CORRECT |ANSWER✔✔-What |gives |an |insurer |the |authority |to |
operate |within |this |state?
Indemnity |- |CORRECT |ANSWER✔✔-Which |principle |states |that |an |insured |may |be |reimbursed |
up |to |the |amount |of |the |actual |loss?
Conditional |Contract? |- |CORRECT |ANSWER✔✔-A |contract |in |which |both |parties |must |perform |
specified |duties |in |order |for |the |contract |to |remain |enforceable
Contract |of |Adhesion |- |CORRECT |ANSWER✔✔-A |contract |that |is |drafted |by |an |insurer |and |
receives |no |input |or |alteration |from |the |insured, |is |considered |a(n)
National |Association |of |Insurance |Commissioners |(NAIC): |- |CORRECT |ANSWER✔✔-does |not |
have |legal |authority |over |insurance |regulation, |but |promotes |uniformity |in |the |interpretation |
of |insurance |legislation |and |regulation.
, medical |or |physical |exam |request |- |CORRECT |ANSWER✔✔-paid |for |by |the |insurer |and |does |
not |require |written |consent |under |the |FCRA. |A |written |statement |from |the |applicant's |doctor |
explaining |treatment |for |a |preexisting |condition |is |an |attending |Physician's |statement. |The |
medical |exam |is |completed |by |usually |a |registered |nurse |or |a |paramedical |professional |and |
includes |checking |vitals, |height, |weight, |and |collecting |blood |and |urine |samples.
At |the |time |of |policy |delivery, |the |producer |has |been |informed |there |is |a |change |in |the |
insured's |health |status. |If |the |premium |has |not |been |collected, |the |producer |should: |- |
CORRECT |ANSWER✔✔-Return |the |policy |to |the |insurer |for |further |underwriting
Before |a |policy |will |be |issued, |an |insurable |interest |must |exist |between |the |owner |(applicant) |
and |the |- |CORRECT |ANSWER✔✔-the |owner |(applicant) |and |insured.
Probationary |period |- |CORRECT |ANSWER✔✔-The |specified |period |that |must |elapse |before |
new |coverage |is |effective |for |nonaccidental |losses |is |known |as |which |of |the |following?
Consumer |Investigative |Report |- |CORRECT |ANSWER✔✔-general |report |of |the |applicant's |
finances, |character, |morals, |work, |hobbies |and |other |habits. |It |is |sometimes |called |an |
Inspection |Report.
If |an |application |is |submitted |with |a |question |left |unanswered, |which |of |the |following |should |
occur? |- |CORRECT |ANSWER✔✔-The |insurer |would |require |an |answer |before |issuing |a |policy
MIB |- |CORRECT |ANSWER✔✔-was |created |in |order |to |alert |insurer |home |office |underwriters |of
|errors, |omissions, |or |misrepresentations |made |on |insurance |applications.
A
The |agent's |report
