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chapter 5 life insurance license test
Questions and Expert Answers the
Latest Version
Question: What is the term used for an applicant's written request to an
insurer for the company to issue a contract, based on the information
provided?
Answer: application
Question: An insurance policy, together with the policy application and any
other riders form what is known as?
Answer: entire contract
Question: To comply with Fair Credit Reporting Act, when must a producer
notify an applicant that a credit report may be requested?
Answer: at the time of the application
Question: When is a notice to the applicant issued to applicants?
Answer: for health insurance coverage
Question: Which of the following entities can legally bind a coverage?
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Answer: insurer
Question: Which is true regarding obtaining underwriting sources?
Answer: The applicant must be informed of the sources contacted and how
the information is being gathered
Question: Whose responsibility is it to determine if all of the questions on an
application have been answered?
Answer: the agent
Question: An agent is ready to deliver a policy to an applicant but has not yet
received payment. Upon delivery, the agent collects the applicant's premium
check, answers any questions the applicant may have, and then leaves. What
did he forget to do?
Answer: Ask her to sign a statement of good health
Question: An application for a health insurance policy returns a completed
application to her agent, along with a check for the first premium. she receives
a conditional receipt 2 weeks later. which of the following has the insurer done
by this point?
Answer: Neither approved the application nor issued the policy
Question: What document describes an insured's medical history, including
diagnoses and treatments?
chapter 5 life insurance license test
Questions and Expert Answers the
Latest Version
Question: What is the term used for an applicant's written request to an
insurer for the company to issue a contract, based on the information
provided?
Answer: application
Question: An insurance policy, together with the policy application and any
other riders form what is known as?
Answer: entire contract
Question: To comply with Fair Credit Reporting Act, when must a producer
notify an applicant that a credit report may be requested?
Answer: at the time of the application
Question: When is a notice to the applicant issued to applicants?
Answer: for health insurance coverage
Question: Which of the following entities can legally bind a coverage?
, Page | 2
Answer: insurer
Question: Which is true regarding obtaining underwriting sources?
Answer: The applicant must be informed of the sources contacted and how
the information is being gathered
Question: Whose responsibility is it to determine if all of the questions on an
application have been answered?
Answer: the agent
Question: An agent is ready to deliver a policy to an applicant but has not yet
received payment. Upon delivery, the agent collects the applicant's premium
check, answers any questions the applicant may have, and then leaves. What
did he forget to do?
Answer: Ask her to sign a statement of good health
Question: An application for a health insurance policy returns a completed
application to her agent, along with a check for the first premium. she receives
a conditional receipt 2 weeks later. which of the following has the insurer done
by this point?
Answer: Neither approved the application nor issued the policy
Question: What document describes an insured's medical history, including
diagnoses and treatments?
