LIFE INSURANCE AGENT TEST EXAM PREPERATION AUDIO [4K UHD]

Описание: $ WHAT KIND OF OF INCOME DOES SOMEONE INSURED HAVE IF HE OR SHE IS UNABLE TO WORK = UNEARNED
$ The following is a way of calculating the amount of disability coverage that an individual requires = PROGRAMMING
$ Which insurance paperwork permits an insured to obtain term coverage for a spouse = Spouse term insurance rider
$ COBRA permits = A terminated employee to continue coverage
$ When assessing a health insurance policy premium, all but which of the following should be taken into account = GENDER
$
1 AN OFFER THAT ATTEMPTS TO INFLUENCE THE OTHER PARTY = INDUCEMENT
2 A MUTUAL EXCHANGE OF BENEFITS OR PRIVILEGES. ''I'LL SCRATCH YOUR BACK IF YOU SCRATCH MINE''. = RECIPROCITY
3.. HEART ATTACKS FROM A CAR/MOTORCYCLE = ONLY PAY THE FACE AMOUNT TO THE BENEFICIARY
..How long can a temporary license be issued? 90 DAYS
..require that you complete 20 hours of pre-license education
4 RESTORATION TO THE ORIGINAL CONDITION OR REPAYMENT = RESTITUTION
5 INSURANCE THAT IS NOT AVAILABLE FROM ADMITTED INSURERS = SURPLUS LINES INSURANCE
6 WHAT DOES INDEMNIFY MEAN = TO RESTORE AN INSURED TO THE SAME FINANCIAL STATUS AS BEFORE THE LOSS
7 WHAT ARE SOME COMMON PERSONAL USES OF LIFE INSURANCE = SURVIVOR PROTECTION, ESTATE CREATION & CONSERVATION, CASH ACCUMULATION, AND LIQUIDITY
8 ED = CONDITIONAL
9 TRUTHFULNESS WITH BOTH PARTIES - CONTACT OF UTMOST GOOD FAITH
10 WHAT DOES REPRESENTATION MEAN AND HOW DOES IT DIFFER FROM WARRANTY = REPRESENTATIONS ARE STATEMENTS BELIEVED TO BE TRUE TO THE BEST OF ONE'S KNOWLEDGE. A WARRANTY IS AN ABSOLUTELY TRUE STATEMENT UPON WHICH THE VALIDITY OF THE INSURANCE POLICY DEPENDS
11 WHAT DOES INSURANCE SOLICITATION MEAN = IT IS AN ATTEMPT TO PERSUADE A PERSON TO BUY AN INSURANCE POLICY, AND IT CAN BE DONE ORALLY OR IN WRITING
12 WHAT INFORMATION DOES A BUYERS GUIDE PROVIDE = BASIC INFORMATION ABOUT LIFE INSURANCE POLICIES AND COMPARISON OF POLICY COST
13 WHAT IS UNDERWRITING = RISK SELECTION + CLASSIFICATION PROCESS
14 STOCK INSURERS ARE OWNED BY SHAREHOLDERS
Premium=the money paid to the insurance company for the insurance policy
Reciprocity/ Reciprocal=a mutual interchange of rights and privileges
Commissioner=the head of the department of insurance
Consent=permission to do something
Consideration=something of value that each party gives to the other (binding force in any contract)
Disclosure=revealed information to help someone make an informed decision
Lapse=policy termination due to nonpayment of premium
Underwriting=risk selection and classification process
Beneficiary=a person who receives the benefits of an insurance policy
Estate=a person's net worth
Attained Age=the insured's age at the time the policy is renewed or replaced
Cash Value=a policy's savings element or living benefit
Deffered=withheld or postponed until a specified time or event in the future
Endow=to have the cash value of a whole life policy reach the contractual face amount
Nonforfeiture Values=benefits in a life insurance policy that the policy owner cannot lose
even if the policy is surrendered or lapses
Face Amount=the amount of benefit stated in the life insurance policy
Lapse=policy termination due to nonpayment of premium