WebCE Exam Tutor
A customer's solutions on an application for coverage are considered to be:
warranties
representations
assurances
ensures - ANS-representations
A lifestyles coverage software asks Steven whether or not he has had heart issues. He does
no longer answer the query even though he had coronary heart surgical procedure three
years in the past due to the fact he is afraid his application may be denied. Steven's failure to
provide his whole clinical records is:
an estoppel
a concealment
a waiver
a breach of agreement - ANS-concealment
A life coverage policy matures or endows when its assured cash cost equals its face
amount. With an endowment settlement, whilst does the coverage endow?
Whilst the insured dies
at age a hundred and twenty
after age 120
well before age 120, commonly at age 65 - ANS-well before age one hundred twenty,
commonly at age sixty five
A life coverage policy that gives coverage for a distinct, restrained length without a cash fee
building up is called a:
time period existence insurance coverage
entire existence insurance coverage
graded top class whole lifestyles coverage
limited pay life insurance policy - ANS-term lifestyles insurance policy
A existence insurance underwriter may additionally request an attending health practitioner's
announcement (APS):
for fashionable facts about any clinical conditions now not reported at the health phase of the
software
to gain the name of a health practitioner who knows how the medical condition in question is
dealt with entire the APS
for a sworn assertion from the applicant about why the situation became left off the utility
for unique details from the applicant's doctor approximately any medical conditions
discovered in the fitness segment of the utility - ANS-for specific information from the
applicant's doctor approximately any medical conditions observed in the fitness phase of the
software
,A married couple is insured under a joint existence coverage. The first partner dies. What
can the surviving partner do with the policy?
The surviving partner can renew the policy.
The surviving spouse can convert the coverage if he or she proves insurability.
The surviving partner may also convert the policy with out proving insurability.
The surviving partner cannot convert the policy. - ANS-the surviving spouse can convert the
coverage if she or he proves insurability
A man or woman who smokes closely and liquids alcohol to extra exhibits what sort of an
coverage threat?
Physical danger
ethical risk
criminal threat
planned risk - ANS-physical hazard
A plan wherein a collection of two or extra employers from the identical alternate or
enterprise be a part of to sponsor a group coverage plan is called a(n):
union plan
a couple of agency welfare arrangement
insured organization plan
change association arrangement - ANS-a couple of employer welfare arrangement
A policyowner deliberately misstates fabric statistics on an coverage software to get
insurance for a decrease top class. This kind of deception is:
fraud
churning
libel
nondisclosure - ANS-fraud
A policyowner time and again declines the opportunity to boom her incapacity income policy
blessings via its gain increase rider. She suffers a loss that could had been blanketed under
the rider. May she sue the insurance organization to growth the policy benefit?
No, due to the fact the policyowner waived her right to exercising the rider benefit when the
possibility to achieve this changed into available to her.
No, due to the fact greater than 30 days have passed.
Yes; the insurer is at fault for not forcing the insured to workout the proper.
Yes; the loss must be protected below the coverage. - ANS-No, because the policyowner
waived her proper to exercise the rider gain while the possibility to accomplish that was
available to her
A potential insured offers an agent a finished life coverage utility with the first top class fee.
What need to the agent now give the applicant?
Replica of the application
top class receipt
transient coverage
bridge policy - ANS-top class receipt
,A type of lifestyles insurance that covers two people and can pay the loss of life gain
simplest upon the second one insured's death is called
survivorship existence
circle of relatives life
spousal existence
joint existence - ANS-survivorship life
A form of permanent lifestyles insurance that shall we the policyowner increase, lessen or
maybe pass premium bills at will without the policy lapsing high-quality describes:
variable lifestyles insurance
prevalent existence insurance
adjustable existence insurance
changed top rate complete lifestyles insurance - ANS-established life coverage
A legitimate insurance agreement does not require:
attention
disinterested witnesses
legal reason
capable events - ANS-disinterested witnesses
A whole life insurance coverage that has charges that start decrease than similar directly
whole existence after which boom steadily for a limited period of time is a:
constrained pay entire lifestyles
graded top rate whole life
modified top rate whole life
unmarried premium existence - ANS-graded premium whole existence
Abbott Computers gives a group existence coverage plan issued by means of ABC
Insurance for its employees and will pay 80 percentage of the top class for the group
coverage. The employees pay the last 20 percentage. This sort of plan is known as a:
contributory plan
non-contributory plan
self-insured plan
obligatory participation plan - ANS-contributory plan
Abby lives in Ohio, where she is licensed as an coverage producer. She desires to follow for
a nonresident license in Pennsylvania. Which of the following conditions ought to she fulfill?
She should flow to Pennsylvania.
She ought to give up her Ohio license.
She need to be backed by using a manufacturer licensed in Pennsylvania.
She need to display her Ohio license is in correct standing. - ANS-she should show her Ohio
license is in good status
ABC Insurance Company fires Renee, a manufacturer. She continues to interview
potentialities, make income shows with corporation substances, and accumulate rates.
When dealing with Renee, the possibilities consider that she has what sort of authority from
ABC?
, Apparent
actual
implied
explicit - ANS-apparent
ABC Insurance Company is domiciled in Delaware and does enterprise in Ohio. Which of the
subsequent is correct about ABC?
ABC is a home insurer in Delaware and an alien insurer in Ohio.
ABC is a home insurer in Delaware and a overseas insurer in Ohio.
ABC is a home insurer in Ohio.
ABC is a foreign insurer in Delaware. - ANS-ABC is a domestic insurer in DE and a foreign
insurer in OH
ABC Supply, Inc. Has implemented for, owns, and is the beneficiary of a coverage on
certainly one of its personnel. What type of coverage is this commonly known as?
Deferred repayment
break up-dollar life coverage
key character existence coverage
business overhead fee insurance - ANS-key individual existence insurance
According to the laws of organisation, an coverage agent appointed with the aid of an
insurance agency acts on behalf of:
the purchaser
the organization
the kingdom insurance department
the appointing insurer - ANS-the appointing insurer
Acme Insurance and Apogee Insurance conform to offer exclusive premium rates for
persons of equal risk within a specific class. They additionally agree to restrict advantages
paid to insureds inside this magnificence if the insureds live in positive counties of
Pennsylvania. What are Acme and Apogee engaging in?
Appropriate advertising and marketing and underwriting practices
unfair and prohibited enterprise practices
insurance fraud
false marketing - ANS-unfair and prohibited business practices
Acme Insurance Company wants to hire Anthony as a producer. To do so, what movement
need to Acme take?
File a word of appointment with the Department
affirm that Anthony is eligible for appointment
have Anthony sign a noncompete and specific enterprise settlement
publish a be aware of appointment to the NAIC's country wide database - ANS-document a
observe of appointment with the Department
Actuaries base conventional life insurance rates on all the following elements, EXCEPT:
mortality
interest prices
expenses
A customer's solutions on an application for coverage are considered to be:
warranties
representations
assurances
ensures - ANS-representations
A lifestyles coverage software asks Steven whether or not he has had heart issues. He does
no longer answer the query even though he had coronary heart surgical procedure three
years in the past due to the fact he is afraid his application may be denied. Steven's failure to
provide his whole clinical records is:
an estoppel
a concealment
a waiver
a breach of agreement - ANS-concealment
A life coverage policy matures or endows when its assured cash cost equals its face
amount. With an endowment settlement, whilst does the coverage endow?
Whilst the insured dies
at age a hundred and twenty
after age 120
well before age 120, commonly at age 65 - ANS-well before age one hundred twenty,
commonly at age sixty five
A life coverage policy that gives coverage for a distinct, restrained length without a cash fee
building up is called a:
time period existence insurance coverage
entire existence insurance coverage
graded top class whole lifestyles coverage
limited pay life insurance policy - ANS-term lifestyles insurance policy
A existence insurance underwriter may additionally request an attending health practitioner's
announcement (APS):
for fashionable facts about any clinical conditions now not reported at the health phase of the
software
to gain the name of a health practitioner who knows how the medical condition in question is
dealt with entire the APS
for a sworn assertion from the applicant about why the situation became left off the utility
for unique details from the applicant's doctor approximately any medical conditions
discovered in the fitness segment of the utility - ANS-for specific information from the
applicant's doctor approximately any medical conditions observed in the fitness phase of the
software
,A married couple is insured under a joint existence coverage. The first partner dies. What
can the surviving partner do with the policy?
The surviving partner can renew the policy.
The surviving spouse can convert the coverage if he or she proves insurability.
The surviving partner may also convert the policy with out proving insurability.
The surviving partner cannot convert the policy. - ANS-the surviving spouse can convert the
coverage if she or he proves insurability
A man or woman who smokes closely and liquids alcohol to extra exhibits what sort of an
coverage threat?
Physical danger
ethical risk
criminal threat
planned risk - ANS-physical hazard
A plan wherein a collection of two or extra employers from the identical alternate or
enterprise be a part of to sponsor a group coverage plan is called a(n):
union plan
a couple of agency welfare arrangement
insured organization plan
change association arrangement - ANS-a couple of employer welfare arrangement
A policyowner deliberately misstates fabric statistics on an coverage software to get
insurance for a decrease top class. This kind of deception is:
fraud
churning
libel
nondisclosure - ANS-fraud
A policyowner time and again declines the opportunity to boom her incapacity income policy
blessings via its gain increase rider. She suffers a loss that could had been blanketed under
the rider. May she sue the insurance organization to growth the policy benefit?
No, due to the fact the policyowner waived her right to exercising the rider benefit when the
possibility to achieve this changed into available to her.
No, due to the fact greater than 30 days have passed.
Yes; the insurer is at fault for not forcing the insured to workout the proper.
Yes; the loss must be protected below the coverage. - ANS-No, because the policyowner
waived her proper to exercise the rider gain while the possibility to accomplish that was
available to her
A potential insured offers an agent a finished life coverage utility with the first top class fee.
What need to the agent now give the applicant?
Replica of the application
top class receipt
transient coverage
bridge policy - ANS-top class receipt
,A type of lifestyles insurance that covers two people and can pay the loss of life gain
simplest upon the second one insured's death is called
survivorship existence
circle of relatives life
spousal existence
joint existence - ANS-survivorship life
A form of permanent lifestyles insurance that shall we the policyowner increase, lessen or
maybe pass premium bills at will without the policy lapsing high-quality describes:
variable lifestyles insurance
prevalent existence insurance
adjustable existence insurance
changed top rate complete lifestyles insurance - ANS-established life coverage
A legitimate insurance agreement does not require:
attention
disinterested witnesses
legal reason
capable events - ANS-disinterested witnesses
A whole life insurance coverage that has charges that start decrease than similar directly
whole existence after which boom steadily for a limited period of time is a:
constrained pay entire lifestyles
graded top rate whole life
modified top rate whole life
unmarried premium existence - ANS-graded premium whole existence
Abbott Computers gives a group existence coverage plan issued by means of ABC
Insurance for its employees and will pay 80 percentage of the top class for the group
coverage. The employees pay the last 20 percentage. This sort of plan is known as a:
contributory plan
non-contributory plan
self-insured plan
obligatory participation plan - ANS-contributory plan
Abby lives in Ohio, where she is licensed as an coverage producer. She desires to follow for
a nonresident license in Pennsylvania. Which of the following conditions ought to she fulfill?
She should flow to Pennsylvania.
She ought to give up her Ohio license.
She need to be backed by using a manufacturer licensed in Pennsylvania.
She need to display her Ohio license is in correct standing. - ANS-she should show her Ohio
license is in good status
ABC Insurance Company fires Renee, a manufacturer. She continues to interview
potentialities, make income shows with corporation substances, and accumulate rates.
When dealing with Renee, the possibilities consider that she has what sort of authority from
ABC?
, Apparent
actual
implied
explicit - ANS-apparent
ABC Insurance Company is domiciled in Delaware and does enterprise in Ohio. Which of the
subsequent is correct about ABC?
ABC is a home insurer in Delaware and an alien insurer in Ohio.
ABC is a home insurer in Delaware and a overseas insurer in Ohio.
ABC is a home insurer in Ohio.
ABC is a foreign insurer in Delaware. - ANS-ABC is a domestic insurer in DE and a foreign
insurer in OH
ABC Supply, Inc. Has implemented for, owns, and is the beneficiary of a coverage on
certainly one of its personnel. What type of coverage is this commonly known as?
Deferred repayment
break up-dollar life coverage
key character existence coverage
business overhead fee insurance - ANS-key individual existence insurance
According to the laws of organisation, an coverage agent appointed with the aid of an
insurance agency acts on behalf of:
the purchaser
the organization
the kingdom insurance department
the appointing insurer - ANS-the appointing insurer
Acme Insurance and Apogee Insurance conform to offer exclusive premium rates for
persons of equal risk within a specific class. They additionally agree to restrict advantages
paid to insureds inside this magnificence if the insureds live in positive counties of
Pennsylvania. What are Acme and Apogee engaging in?
Appropriate advertising and marketing and underwriting practices
unfair and prohibited enterprise practices
insurance fraud
false marketing - ANS-unfair and prohibited business practices
Acme Insurance Company wants to hire Anthony as a producer. To do so, what movement
need to Acme take?
File a word of appointment with the Department
affirm that Anthony is eligible for appointment
have Anthony sign a noncompete and specific enterprise settlement
publish a be aware of appointment to the NAIC's country wide database - ANS-document a
observe of appointment with the Department
Actuaries base conventional life insurance rates on all the following elements, EXCEPT:
mortality
interest prices
expenses
