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AD Banker Comprehensive 2024/ 2025 Exam| Questions and Verified Answers| 100% correct| Grade A Q: The relationship of a person who acts on behalf of a company whereby the person's actions can bind the company is known as: A. Surplus lines or excess insurance B. The law of large numbers C. The law of agency D. Brokerage business Answer: C. Q: _____________ consists of groups of underwriters called syndicates, each of which specializes in insuring a particular type of risk. A. L...

AD Banker Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: In an insurance contract, the value that each party gives the other is called the: A. Acceptance B. Consideration C. Offer D. Subject matter Answer: B Consideration Consideration can take the form of money, goods, a promise to do something, or anything else that changes the legal position of the party. A contract cannot exist without consideration being given by both sides. Q...

Until yesterday, J. J. worked for his father's company and was covered by the company's large group health plan. He stopped working to go to college. He is 26 years of age and wants to keep the same coverage until he earns his degree in approximately 24 months. Which of the following statements is true? CORRECT ANSWER A good option for J.J. is to exercise the COBRA option under his father's group plan Which of the following annuities does not have a traditional accumulation phase? CORRECT ...

Where can an insured find insurance coverage after being rejected by Insurer A due to claims history? A Residual market B Risk retention insurer C Reinsurance market D Lloyd's of London CORRECT ANSWER A Residual Market The residual market is a coverage source of last resort for businesses and individuals who have been rejected by voluntary market insurers. Which Federal entity administers the Terrorism Risk Insurance Program Reauthorization Act? A Secretary of State B Executiv...

AD Banker Comprehensive Exam 294 Questions And Answers 2024 (Verified Answers). 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 - Correct answer D In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: A Restricted persons B Considerations C Competent parties D Agreem...

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 - correct answer D In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: A Restricted persons B Considerations C

AD Banker Comprehensive Exam / AD Banker Comprehensive Exam Actual Questions and Answers Solved Complete Test Already Passed/verified 100%

AD Banker Comprehensive Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest Update) Q: When insurance cannot be placed with a licensed insurer, it may be placed with an authorized/non-admitted insurer by a: A. General surplus producer B. General use producer C. General consultant D. Surplus Lines broker Answer: D. Q: In insurance, to determine acceptable risks is the primary responsibility of the: A. Underwriter B. Adjuster C. Auditor D. Producer Ans...

AD Banker Property and Casualty Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% correct| Grade A Q: An insurer authorized to transact insurance in a particular state by that state's insurance department is known as: A - A resident insurer B - A domestic insurer C - A non-admitted insurer D - An admitted insurer Answer: D - An admitted insurer An admitted insurer is an insurer authorized to transact insurance in a particular state by that state's departm...

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