Package deal
Value Pack for AD BANKER EXAMS Compilation | Verified | Guaranteed Success
Value Pack for AD BANKER EXAMS Compilation | Verified | Guaranteed Success
[Show more]Value Pack for AD BANKER EXAMS Compilation | Verified | Guaranteed Success
[Show more]A producer who is acting as an agent is representing: 
 
A 
The insured, the applicant and the beneficiary 
 
B 
Always the insured 
 
C 
The insured and the insurer 
 
D 
Always the insurer - ANSWER D 
 
In order to be valid, a contract must be between individuals considered legally able to e...
Preview 4 out of 93 pages
Add to cartA producer who is acting as an agent is representing: 
 
A 
The insured, the applicant and the beneficiary 
 
B 
Always the insured 
 
C 
The insured and the insurer 
 
D 
Always the insurer - ANSWER D 
 
In order to be valid, a contract must be between individuals considered legally able to e...
2x sold
Legally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. - ANSWER Fiduciary 
It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. - ANSWER Stat...
Preview 3 out of 19 pages
Add to cartLegally speaking, a producer has a __________ duty when handling life insurance premiums and applications for an insurer. - ANSWER Fiduciary 
It is the _________ who issues a Certificate of Authority enabling an insurer to conduct insurance business within a particular state. - ANSWER Stat...
Which insurer's owner receives taxable corporate dividends as a return of profit? - ANSWER Stock 
To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: - ANSWER Reinsure the risk 
The direct writing distribution model util...
Preview 4 out of 80 pages
Add to cartWhich insurer's owner receives taxable corporate dividends as a return of profit? - ANSWER Stock 
To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will: - ANSWER Reinsure the risk 
The direct writing distribution model util...
Dividends if declared are paid: 
 
A. Annually 
B. Semi-annually 
C. Monthly 
D. Quarterly - ANSWER A. Annually 
An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the p...
Preview 4 out of 40 pages
Add to cartDividends if declared are paid: 
 
A. Annually 
B. Semi-annually 
C. Monthly 
D. Quarterly - ANSWER A. Annually 
An insured dies within the time limit of an Increasing Term Rider and the beneficiary receives the face amount plus the value of all paid premiums. Which rider is attached to the p...
Insurers (Insurance companies or Carriers) - ANSWER manufacture and sell insurance coverage by way of insurance policies or contracts. In California, any person capable of making a contract may be an insurer, subject to the restrictions imposed by the insurance code. In this case, a person is ...
Preview 4 out of 40 pages
Add to cartInsurers (Insurance companies or Carriers) - ANSWER manufacture and sell insurance coverage by way of insurance policies or contracts. In California, any person capable of making a contract may be an insurer, subject to the restrictions imposed by the insurance code. In this case, a person is ...
John is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? 
A. ABC Insurance 
B. None 
C. John 
D. Jane - ANSWER A. ABC Insurance 
In an insurance contract the value that each party gives the other is said to be the: 
A. Subject matter 
B. Co...
Preview 3 out of 27 pages
Add to cartJohn is the agent for ABC Insurance and Jane is the insured. Who is the principal in this agency relationship? 
A. ABC Insurance 
B. None 
C. John 
D. Jane - ANSWER A. ABC Insurance 
In an insurance contract the value that each party gives the other is said to be the: 
A. Subject matter 
B. Co...
A person who negotiates insurance contracts with insurers on behalf of an applicant is known as a(n): 
a. Broker 
b. Consultant 
c. Advisor 
d. Agent/Producer - ANSWER a. Broker 
The contract type in which only one party is legally bound to its contractual obligations after a premium is paid is...
Preview 2 out of 9 pages
Add to cartA person who negotiates insurance contracts with insurers on behalf of an applicant is known as a(n): 
a. Broker 
b. Consultant 
c. Advisor 
d. Agent/Producer - ANSWER a. Broker 
The contract type in which only one party is legally bound to its contractual obligations after a premium is paid is...
Temporary Total Disability may be described as: - ANSWER Inability to return to any employment while recovering 
Supplementary Payment under Part A of the Personal Auto Policy? - ANSWER A Up to $250 for the cost of bail bonds 
B Payment for lost earnings up to $200/day 
C Medical payment...
Preview 4 out of 58 pages
Add to cartTemporary Total Disability may be described as: - ANSWER Inability to return to any employment while recovering 
Supplementary Payment under Part A of the Personal Auto Policy? - ANSWER A Up to $250 for the cost of bail bonds 
B Payment for lost earnings up to $200/day 
C Medical payment...
Which rating method listed below is established by the underwriter? 
 
A. Manual rating 
B. Retrospective rating 
C. Individual rating 
D. Judgment rating - ANSWER D. 
Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by th...
Preview 3 out of 21 pages
Add to cartWhich rating method listed below is established by the underwriter? 
 
A. Manual rating 
B. Retrospective rating 
C. Individual rating 
D. Judgment rating - ANSWER D. 
Judgment rating is the Only rating method that is determined by the underwriter. All other rating methods are determined by th...
Which of the following situations will require proof of insurability? - ANSWER Adjusting the face amount up on a Universal Life insurance policy with Option A death benefit selected 
Sean has a home with an mortgage. He needs life insurance to protect his family but also wants to leave them wit...
Preview 3 out of 16 pages
Add to cartWhich of the following situations will require proof of insurability? - ANSWER Adjusting the face amount up on a Universal Life insurance policy with Option A death benefit selected 
Sean has a home with an mortgage. He needs life insurance to protect his family but also wants to leave them wit...
All of the following are true in general about riders, except: 
 
A) A rider can modify conditions of the policy by expanding or decreasing its benefits 
B) Riders are optional 
C) All riders are provided for as long as the policy is in effect 
D) Riders typically are available for an additional pre...
Preview 3 out of 19 pages
Add to cartAll of the following are true in general about riders, except: 
 
A) A rider can modify conditions of the policy by expanding or decreasing its benefits 
B) Riders are optional 
C) All riders are provided for as long as the policy is in effect 
D) Riders typically are available for an additional pre...
A contract whereby only one party is bound to future performance, is said to be: - ANSWER A unilateral contract 
What is the term for the increase in predictability of the loss when the number of similar units of risk increase? - ANSWER Law of Large Numbers 
Which insurer's owner receiv...
Preview 2 out of 15 pages
Add to cartA contract whereby only one party is bound to future performance, is said to be: - ANSWER A unilateral contract 
What is the term for the increase in predictability of the loss when the number of similar units of risk increase? - ANSWER Law of Large Numbers 
Which insurer's owner receiv...
__________ are primarily social organizations that engage in charitable and benevolent activities consisting of members of a given faith, lodge, or order, and are usually organized as non-profits. 
 
Lloyds of London Syndicates 
 
Trade Associations 
 
Fraternal Benefit Societies 
 
Stock Insurance ...
Preview 2 out of 12 pages
Add to cart__________ are primarily social organizations that engage in charitable and benevolent activities consisting of members of a given faith, lodge, or order, and are usually organized as non-profits. 
 
Lloyds of London Syndicates 
 
Trade Associations 
 
Fraternal Benefit Societies 
 
Stock Insurance ...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACELEARNERS. Stuvia facilitates payment to the seller.
No, you only buy these notes for $29.99. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
89675 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now