Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Insurance Test

Enter the letter for the matching Answer
incorrect
1.
The company who issues an insurance policy
incorrect
2.
This document provides basic, GENERIC information about life insurance policies that contains, and is limited to, language provided by the Department of Insurance. This is called...
incorrect
3.
High risk individuals requesting insurance
incorrect
4.
a person's net worth
incorrect
5.
The paid amount upon death of the insured in a life insurance policy
incorrect
6.
A statement that if discovered, would alter the underwriting decision of the insurance company
incorrect
7.
Agent/Producer, Applicant, and Policyowner (if not proposed insurer)
incorrect
8.
- Proper solicitation of applicants - Helping prevent adverse selection - Completing the application - Obtaining the required signature - Collecting initial Premium and issuing the receipt - Delivering the policy
incorrect
9.
A person applying for insurance
incorrect
10.
To purchase insurance, the policyowner must face the possibility of losing money or something of value in the event of loss. This must be exist on a life insurance policy at the application or issued date This is called...
incorrect
11.
Pure Death Protection
incorrect
12.
Appointment date Medical Exam Death Policy Issued
incorrect
13.
a membership corporation owned by member insurance companies. Nonprofit trade organization which receives adverse medical information from insurance companies and maintains confidential medical impairment information on individuals
incorrect
14.
Signature of good health
incorrect
15.
A person who receives the benefits of an insurance policy
incorrect
16.
Policy termination due to nonpayment of premium
incorrect
17.
Untrue statements on application
incorrect
18.
Money paid to the insurance company for the insurance policy
incorrect
19.
An insurance producer, not appointed by an insurance company and who represents their client
incorrect
20.
A written statement describing the FEATURES & ELEMENTS of the policy being issued.
A.
Estate
B.
Lapse
C.
Applicant
D.
Required Signatures
E.
Receipt
F.
Policy Summary
G.
Medical Information Bureau (MIB)
H.
Insurable Interest
I.
Term Life Insurance
J.
Buyer's Guide
K.
Broker
L.
Material Misrepresentation
M.
Insurance Company, also known as the Insurer (Principal)
N.
Field Underwriting responsibilities
O.
Example of a Conditional Receipt
P.
Beneficiary
Q.
Death benefit
R.
Misrepresentation
S.
Adverse Selection
T.
Premium
Type the Answer that corresponds to the displayed Question.
incorrect
21.
Statements believed to be true to the best of one's knowledge but they are not guaranteed to be true
incorrect
22.
allows policyowner the right to renew the same amount of coverage, without evidence of insurability. Premium for new term is based on insured's current age
incorrect
23.
The risk selection and classification process. It's when an insurance company determines whether or not a particular applicant is insurable, and if so, what premium to charge.
incorrect
24.
The practice of terminating and existing policy of letting it lapse, and obtaining a new one
incorrect
25.
A contract between a policyowner (and/or the insured) and a insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events
incorrect
26.
commonly purchased to insure the payment of a mortgage or other debts
incorrect
27.
A legal representative of an insurance company
incorrect
28.
Before submitting application you must complete and sign...
incorrect
29.
An AGENT on the company's front line, the agent is usually soliciting the potential insured.
incorrect
30.
A statement saying that coverage will be effective either on the date of application or the date of medical examination, whichever occurs last, unless coverage is declined or rated, or issued with riders excluding specific coverage

edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: NelsonUSMC2025
Popular Insurance sets