Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link According to the required provisions, what MUST the Insured do if the Insurer does NOT furnish forms to provide proof of loss to the Insured within 15 days after the Insured gives notice of loss? A. Contact the Insurer to request such forms. B. File written proof of loss. C. Refile notice of loss within 20 days. D. No action is required. Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link An applicant states that they have never had any major surgeries, but during underwriting it is discovered they had a heart surgery five years ago. How would this situation be handled? A. Adjust the premium B. Void the policy C. Ignore the discrepancy D. Investigate further Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link In a whole life policy, the amount of pure insurance protection is the policy’s face value minus the cash value. When the cash value increases, what happens to the pure insurance protection and the face value? A. The pure insurance protection and face value remain the same. B. The pure insurance protection and face value increase. C. The pure insurance protection decreases but face value increases. D. The pure insurance protection decreases but face value remains the same. Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link During the policy delivery process, a producer discovers the policy issued has a higher premium than initially quoted due to a rating adjustment. How should the producer proceed at the time of delivery? A. Disregard the premium change B. Explain the rating adjustment C. Recommend cancelling the policy D. Deliver without explanation Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link When can a policy no longer be cancelled for material misstatements after its date of issue? A. 1 year B. 2 years C. 5 years D. At any time Submit Answer