Field Underwriting (ID-L)

The report on which the producer is able to document any important knowledge or observations he or she has about the proposed insured, such as activities, habits, finances, and character—can be called all of the following EXCEPT which one?

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

Which of the following is NOT typically included in Part 2 of a life insurance application?

What are the three main components related to the life insurance application process?

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

Albert applied for life insurance, paid the initial premium, was given a conditional receipt, and then died before the underwriting process was complete. Will the death benefit be paid?

Which of the following is FALSE about life insurance underwriting?

Which of the following is NOT gathered in Part 1 of a life insurance application?

Who fills out the agent’s report?

Which is the most accurate definition of adverse selection?

Which statement is FALSE about a conditional receipt?