Ankers Study guides, Class notes & Summaries

A.D. BANKER LIFE & HEALTH GUARANTEE EXAM QUESTIONS AND ANSWERS 2024 GRADED A+. 2 / 28 1. B decides to buy a single premium immediate annuity, choosing the LifeOnly distribution option. How long will the insurer make payments to B? A For B's lifetime or until the principal and interest are exhausted, whichever isshorter B For the period of time it takes B to recover the initial premium or his lifetime,whichever is shorter C For a guaranteed period of time, whether or not B survives to...

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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...

Eligibility - Homeowners Forms HO-2, HO-3, HO-5, and HO-8 CORRECT ANSWER are eligible only for an owner-occupant. The dwelling must be the principal residence of the insured. Incidental occupancies, such as office or professional occupancies, are permitted. Eligibility - Homeowners Forms 4 and 6 CORRECT ANSWER are written to insure the personal property and personal liability of occupants, but do not cover the structure. The HO-4 is designed for tenants of rental units, and the HO-6 is design...

Insurers CORRECT ANSWER (Insurance Companies or Carriers) provide insurance coverage by issuing particular insurance policies or contracts Insurance Agencies CORRECT ANSWER Independent sales organizations that provide service and distribute insurance policies to consumers Insurance Agents or Producers CORRECT ANSWER are licensed individuals representing an insurance company when transacting insurance business Who primarily regulates the insurance industry? CORRECT ANSWER The insurance i...

AD Banker Comprehensive 2024/ 2025 Exam| Questions and Verified Answers| 100% correct| A Grade The type of policy that can be changed from one that does not accumulate cash values to one that does is a: A. Universal life policy B. Variable life policy C. Permanent policy D. Convertible term policy Answer: D. QUESTION With a modified premium whole life contract, premium payments: A. Are lower in the early years of the contract B. Are invested in the stock market C. Never...

AD Banker Comprehensive Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest Update 2024/ 2025) Q: Which of the following applies when two parties rely upon the promises of the other? Answer: Concept of utmost good faith Q: Which of the following is not an unfair claims practice? Answer: A. Attempting to settle claims on the basis of an altered application Answer:Failing to inform a claimant about appealing arbitration awards C. Requiring an insured to sue ...

Insurers (Insurance companies or Carriers) CORRECT 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 defined as any individual (natural person), association, organization, partnership, business trust, limited liability company, or corporation. Insurance Agencies CORRECT ANSWER are independent orga...

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 CORRECT 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. Consideration C. Acceptance D. Offer CORRECT ANSWER B. Consideration Which of the following is classified as an insurance broker? A A person in the home office who does not solicit outside of t...

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