Life & Health 1 41 Correctly Answered Questions Latest Update

Upon policy delivery, the producer may be required to obtain any of the following except? -Payment of premium. -Delivery receipt. -Signed waiver of premium. -Statement of good health. {Ans: Signed waiver of premium.}A producer agent must do all of the following except? -Disclose commissions earned from the sale of the policy. -Explain the policy provisions, riders, & exclusions. -Collect any premium due. -Explain the rating procedures if the policy is rated differently than applied for. {Ans: Disclose commissions earned from the sale of the policy.}Which of the following policies would have an IRS required corridor or gap between the cash value & the death benefit? -Universal Life - Option A -Universal Life - Option B -Equity Indexed Universal Life -Variable Universal Life {Ans: Universal Life - Option A}What is the primary source of information used for insurance underwriting? {Ans: The Application}What is the purpose of the buyer's guide? {Ans: To allow the consumer to compare the costs of different policies.}Who makes up the Medical Information Bureau? {Ans: Insurers}All of the following information about the applicant is identified in the General Information section of a life insurance application except? -Gender. -Occupation. -Education. -Age. {Ans: