Keywords

Question 1

Funds set aside to pay future claims

Answer 1

Reserves

Question 2

Described the underwriting category into
Which a risk Exposure is placed depending
Upon the applicant susceptibility to injury illness
Or death

Answer 2

Risk classification

Question 3

Applicant who can’t qualify for a standard policy but may secure
One with a rider waiving the payment for a loss

Answer 3

Special class

Question 4

Detailed into about a non medical aspect of the applicant
life usually about an activity that entails a greater
Than average level of risk

Answer 4

Special questionnaire

Question 5

Person who according to a company underwriting standards

Considered an average risk and insurable at standard rates

Answer 5

Standard risk

Question 6

Applicant whose physical condition doesn’t meet the

Usual minimum standards

Answer 6

Substandard risk

Question 7

Binding receipt

Answer 7

Temporary insurance

Question 8

Application submitted without the

Initial premium

Answer 8

Trail application

Question 9

Person who identifies examines classified the
Degree of risk represented by a proposed insured
To determine whether or not coverage should be provided
If so st what rate

Answer 9

Underwriter

Question 10

Process if selecting and rating risk

Answer 10

Underwriting

Question 11

Pro rated amount of paid in advance premiums that have not been
Earned by the insurer

Answer 11

Unearned premium

Question 12

Loss exposure is uninsurable when the risk of covering it is so great that an insurance carriers can’t
Do so profitably

Answer 12

Uninsurable

Question 13

Anti terrorism legislation that also addressed money laundering

Answer 13

USA patriots act

Question 14

Applicant statements on the application are considered representation
And not warranties

Answer 14

Warranties

Question 15

3 part of the application

Answer 15

General medical agent report

Question 16

Statements on a application are known

Answer 16

Executing agreements