Which Unfair Trade Practice Involves An Agent Suggesting That An Insurance Policy? Which Unfair Trade Practice involves an agent telling a prospective client that a policy’s dividends are guaranteed? The correct answer is “Misrepresentation“. An agent who tells a client that dividends are guaranteed may be guilty of misrepresentation. Which unfair trade practice involves making
Why Is An Applicant Signature Required On Life Insurance Application? Why is an applicant’s signature required on a life insurance application? T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date of the application or medical examination, whichever is later.
Which Of The Following Terms Defines An Illness That First Appears While The Policy Is In Force? Which of the following terms defines an illness that first appears while the policy is in force? Sickness is defined as an illness which first manifests itself while the policy is in force. Which of the following is
How Much Should A Personal Lines CSR Handle? In personal lines, most average CSRs handle between $75,000 and $120,000 in commission. High-performing CSRs are in the $105,000 to $180,000 range, again based on size of account. How much should a commercial lines CSR handle? Some commercial lines CSRs can handle only 250 to 300 accounts
Which Tasks Do Insurance Underwriters Perform? examining insurance proposals. collecting background information and assessments of risk. analysing statistical data using specialist computer programmes. writing quotes and negotiating the terms with brokers and clients. determining premiums. deciding the wording of policies. What are the duties of an insurance underwriter? They typically assess a business’s entire operation
Which Statement Is Not True Regarding Underwriting Group Health Insurance? Which of the following are generally NOT considered when underwriting group insurance? The insureds’ medical history (Group life insurance is written on a group, not individual basis. What is underwriting group health insurance? Medical underwriting refers to the process by which a life or health