Field Underwriting Procedures [Health]

Question 1

Who is responsible for paying the cost of a medical examination required in the process of underwriting?

Answer 1

insurer

Question 2

. What entities make up the Medical Information
Bureau?

Answer 2

Insurers

Question 3

Who must sign a health insurance application?

Answer 3

The policy owner, the insured (if different), and
the agent

Question 4

What is the entire contract in health insurance
underwriting?

Answer 4

The application and the policy issued

Question 5

What is the best way to make a change on an
application for insurance?

Answer 5

Start over with a fresh application

Question 6

If an insurer decides to obtain medical information from different sources in order to determine
the insurability of an applicant, who must be notified of the investigation?

Answer 6

applicant

Question 7

What information are the members of the Medical
Information Bureau required to report?

Answer 7

Adverse medical information about the applicants or insured

Question 8

Whose responsibility is it to inform an applicant
for health insurance about the insurer’s information gathering practices?

Answer 8

agent

Question 9

What is the term used for a written request for an
insurer to issue an insurance contract based on
the provided information?

Answer 9

application

Question 10

If an underwriter requires extensive information
about the applicant’s medical history, what report will best serve this purpose?

Answer 10

Attending Physician’s Statement

Question 11

If an agent makes a correction on the application
for health insurance, who must initial the correct
answer?

Answer 11

applicant

Question 12

In health insurance, the policy itself and the insurance application form what?

Answer 12

Entire Contract

Question 13

When should an agent obtain a Statement of
Good Health from the insured?

Answer 13

When the premium was paid upon policy delivery and not at the time of application

Question 14

If an underwriter requires extensive information about the applicant’s medical history, what report will best serve this purpose?

Answer 14

Attending physician’s statement

Question 15

What information are the members of the Medical Information Bureau required to report?

Answer 15

Adverse medical information about the applicant’s or the insured

Question 16

If an insurer decides to obtain medical information from different sources in order to determine the insurability of an applicant, who must be notified of the investigation?

Answer 16

the applicant

Question 17

Who must sign a health insurance application?

Answer 17

The policy owner , the insured (If different) , and the agent

Question 18

What law protects consumers against the circulation of inaccurate or obsolete personal or financial information?

Answer 18

The fair credit reporting act

Question 19

An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the following insurance principles has the insurer violated?

Answer 19

Consideration

Question 20

What phase begins after a new policy is delivered?

Answer 20

Free-look period

Question 21

Within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will obtain?

Answer 21

3 days

Question 22

An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant’s premium check, answers any questions the applicant may have, and then leaves. What did he forget to do?

Answer 22

Ask her to sign a statement of good health

Question 23

The proposed insured makes the premium payment on a new insurance policy. If the insured should die, the insurer will pay the death benefit to the beneficiary if the policy is approved. This is an example of what kind of contract?

Answer 23

Conditional

Question 24

When would a misrepresentation on the insurance application be considered fraud?

Answer 24

If it’s intentional and material