Answer D is correct. Workers compensation programs provide death benefits, medical benefits, and disability benefits. They do not provide retirement benefits.
Answer B is correct. After a presumptive disability has been medically verified, no further examinations are required to verify the loss.
Answer B is correct. To be covered under social security, a disability must be serious enough to be expected to be fatal or to last at least 12 months.
Correct answer: (A) Third-party ownership exists when the insured and the owner of the policy are different persons.
Correct answer: (A) The insured may not be the beneficiary of his own policy. The owner and the applicant may also be the insured.
Correct answer: (D) An illustration or policy summary must be provided prior to or at the time a policy is delivered. If the policy is not the same as that which was illustrated previously, the client must be given a new illustration matching the policy that is issued. In practice, insurance companies include a matching illustration or summary with every policy approved for delivery.
Correct answer: (C) Only the applicant/insured and the producer's signatures are required in an application for insurance.
Correct answer: (B) The insurance company is entitled to have the most correct information available before it approves a person for insurance. Incorrect information in the application may only be changed before the policy is issued.
Correct answer: (C) The Fair Credit Reporting Act is the only one in the list which may have jurisdiction over information gathered for underwriting purposes.
Correct answer: (A) Gross premium is the total amount a person pays the insurer for his/her coverage. Net premium, sometimes called the "pure premium," does not include business expenses of the insurer.
Total Questions: | |
Correct Answers: | |
Wrong Answers: | |
Percentage: |
|