FIELD UNDERWRITING PROCEDURES QUIZ AND COMPLETE SOLUTIONS VERIFIED 100% LATEST UPDATE

FIELD UNDERWRITING PROCEDURES QUIZ AND COMPLETE SOLUTIONS

VERIFIED 100% LATEST UPDATE


In a replacement situation, all of the following must be considered EXCEPT?

A. Assets.

B. Benefits.

C. Limitations.

D. Exclusions.

Assets

Which of the following entities can legally bind coverage?

A. Insurer.

B. The insured.

C. Federal Insurance Board.

D. Agent.

Insurer

In comparison to consumer reports, which of the following describes a unique

characteristic of investigative consumer reports?

A. The customer has no knowledge of this action.

B. The customer's associates, friends, and neighbors provide the report's data.

C. They provide additional information from an outside source about a particular

risk.

D. They provide information about a customer's character and reputation.

The customer's associates, friends, and neighbors provide the report's data.

, If an insurance company wishes to order a consumer report on an applicant to

assist in the underwriting process, and if a notice of insurance information

practices has been provided, the report may contain all of the following

information EXCEPT the applicant's.

A. Habits.

B. Prior insurance.

C. Ancestry.

D. Credit history.

Ancestry

An insurance contract must contain all of the following to be considered legally

binding EXCEPT.

A. Competent parties.

B. Beneficiary's consent.

C. Offer and acceptance.

D. Consideration.

Beneficiary's consent

If a consumer requests additional information concerning an Investigative

Consumer Report, how long does the insurer or reporting agency have to

comply?

A. 5 days.

B. 7 days.

C. 10 days.

D. 3 days.