Field Underwriting (ID A/H/S)

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Question 1 of 10

1. Question

Which of the following is false regarding underwriting for health insurance?

Producers are considered to be the field underwriters.

Underwriting is the risk-selection process.

Preventing adverse selection is one of the main goals of underwriting.

A producer usually has the authority to bind health insurance policies.

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Question 2 of 10

2. Question

Which is the most accurate definition of adverse selection?

Insuring only low-risk individuals

Insuring too many high-risk individuals

Underwriting that involves unfair discrimination to determine insurability

Insuring too many individuals that are in good health

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Question 3 of 10

3. Question

What is the title of Part 1 of a health insurance application?

General Information

Demographics

Medical Information

Agent’s Report

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Question 4 of 10

4. Question

Which of the following is not gathered in Part 1 of a health insurance application?

A list of other health insurance coverage the proposed insured already has

The proposed insured's name and address

The amount and type of life insurance being applied for

Medical Information

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Question 5 of 10

5. Question

For health insurance policies that involve underwriting, which of the following is not typically included in Part 2 of the application?

The proposed insured’s gender and date of birth

Physician of the proposed insured

Medical history of the proposed insured’s parents and siblings

Proposed insured’s current and past history of medical conditions

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Question 6 of 10

6. Question

What are the three main components related to the health insurance application process for policies that involve underwriting?

General Information, Adverse Selection, and Agent’s (Producer’s) Report

General Information, Medical Information, and Agent’s (Producer’s) Report

Signatures, Changes, and Riders

Conditional Receipt, Medical Information, and Insurable Interest

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Question 7 of 10

7. Question

Who fills out the Agent’s Report?

The proposed insured

The policyowner

The physician

The producer

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Question 8 of 10

8. Question

Bob is applying for a health insurance policy for his 8-year-old daughter Anna. Who is required to sign the policy?

Bob, Anna, and the insurance producer

Bob only

Anna only

Bob and the insurance producer

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Question 9 of 10

9. Question

Which statement is false about a Conditional Receipt?

It provides the insurer time to complete the underwriting process

It acknowledges that the initial premium was paid

It obligates the insurer to provide coverage as long as the proposed insured meets all the insurer’s underwriting qualifications.

It’s only given to insureds that are determined to be in excellent physical condition.

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Question 10 of 10

10. Question

As it relates to accident and health insurance underwriting, an insurance producer (agent) has the authority to do what?

Gather information, take applications, accept initial premium

Bind coverage and issue policies

Set premium rates

Make the final underwritng decision

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