Life Underwriting Exam Test with 100% Verified
Answers 2025
An insurance company needs to obtain personal needs to obtain personal
information from a third party concerning an applicant. Which law do all
insurers and their producers need to comply with? - -Fair Credit
Reporting Act. To protect the rights of consumers for whom an inspection or
credit report has been requested, Congress enacted the Fair Credit Reporting
Act in 1970.
Upon policy delivery, which of the following must a producer have an
applicant sign if no initial premium was collected with the life insurance
application? - -A Good Health Statement. The producer must have the
applicant sign a statement of good health when delivering the policy.
An insurance applicant with a below-average likelihood of loss is typically
considered to be a: - -Preferred Risk
In which of the following relationships would there NOT be an insurable
interest? - -Business owner to business customer.
Exceptions included:
-Parent to child
-Business partner to business partner
-brother to sister
Answers 2025
An insurance company needs to obtain personal needs to obtain personal
information from a third party concerning an applicant. Which law do all
insurers and their producers need to comply with? - -Fair Credit
Reporting Act. To protect the rights of consumers for whom an inspection or
credit report has been requested, Congress enacted the Fair Credit Reporting
Act in 1970.
Upon policy delivery, which of the following must a producer have an
applicant sign if no initial premium was collected with the life insurance
application? - -A Good Health Statement. The producer must have the
applicant sign a statement of good health when delivering the policy.
An insurance applicant with a below-average likelihood of loss is typically
considered to be a: - -Preferred Risk
In which of the following relationships would there NOT be an insurable
interest? - -Business owner to business customer.
Exceptions included:
-Parent to child
-Business partner to business partner
-brother to sister
