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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A domestic insurer issuing variable contracts must establish one or more
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The pro rata liability clause is designed to protect the principle of
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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
What documentation grants express authority to an agent?
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Fraternal Benefit Society has each of the following characteristics EXCEPT
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The authority granted to a licensed producer is provided via the
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All of the following entities regulate variable life policies EXCEPT
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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