What is the purpose of the Medical Information Bureau (MIB)?

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What is the purpose of the Medical Information Bureau (MIB)?

a) To accept or decline insurance applicants
b) To set the premium rates for insurers
c) To help underwriters evaluate risk
d) To perform physical examinations on applicants

Answer: c) To help underwriters evaluate risk

WA Life Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The pro rata liability clause is designed to protect the principle of
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A domestic insurer issuing variable contracts must establish one or more
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A beneficiary change can occur
No existing agent's license will be revoked until
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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Under an extended term nonforfeiture option, the policy cash value is converted to
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
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How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
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All of the following statements are true regarding installments for a fixed amount EXCEPT
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A securities license is required for a life insurance producer to sell
Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
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All of the following are true regarding rebates EXCEPT
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Life income joint and survivor settlement option guarantees
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Which of the following is NOT true regarding a Certificate of Authority?
Which of the following is NOT an example of utilization review?
The requirement that agents not commingle insurance monies with their own funds is known as
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What is the purpose of establishing the target premium for a universal life policy?
What is the other term for the cash payment settlement option?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
Insurance represents the process of risk
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What is the purpose of establishing the target premium for a universal life policy?
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