An insurer wishes to compare the information given in an insurance application with previous insurance applications by the same applicant but for different companies. What organization can help the insurer accomplish this?

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An insurer wishes to compare the information given in an insurance application with previous insurance applications by the same applicant but for different companies. What organization can help the insurer accomplish this?

A. The Medical Information Bureau
B. The State Department of Insurance
C. Social Security
D. The National Association of Insurance Commissioners

Answer: A. The Medical Information Bureau

Accident and Health Insurance Basics

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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?

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? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need:

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need: Answer: A bail bond Jim will most likely need to post bail to be allowed out of jail before his court date. Bail is a set amount of money an arrested individual must pay the court to guarantee they will appear for their scheduled hearings and trial dates. By posting bail, Jim can secure his release from jail pending his court appearances. There are several options for posting bail: Cash Bail : Jim or someone on his behalf can pay the total bail amount in cash directly to the court. Once the case is resolved, the bail money is returned minus any fees or fines imposed by the court. Bail Bond : If Jim or his family cannot afford to pay the full bail amount, they may use a bail bond service. A bail bondsman typically charges a non-refundable fee, usually a percentage of the total bail amount, in exchange for posting the full bail amount on Jim's behalf. Th...

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive?

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? a) $0 b) $50,000 (50% of the policy value) c) $100,000 d) $300,000 (triple the amount of policy value) Answer: c) $100,000

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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
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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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death?
The authority granted to a licensed producer is provided via the
All of the following are examples of a Business Continuation Plan EXCEPT
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The pro rata liability clause is designed to protect the principle of
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What is the benefit of choosing extended term as a nonforfeiture option?
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What documentation grants express authority to an agent?

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