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13 Cards in this Set
- Front
- Back
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An insurance broker is an intermediary who acts in the procuring of insurance on behalf of |
An applicant |
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Who receives a fee or commission to attempt to negotiate settlements between a life insurance policy holder or certificate holder and one or more life settlement providers |
Life settlement broker |
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What is a person who has authority to bund or manages all or part of the assumed reinsurance business of a reinsurer and acts as an agent for the reinsurer? |
Reinsurance manager |
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A person who receives a fee or commission to attempt to negotiate settlements between a life insurance policy holder or certificate holder and one or more viatical settlement providers |
Viatical settlement broker |
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Easter plus lines agent or broker may be required to supply a bond of no greater than what amount? |
$100,000 |
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What report will provide the underwriter with the information about the insurance applications credit? |
Consumer report |
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What report will provide the underwriter with the information about the insurance applications credit? |
Consumer report |
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What is the maximum number of insurance risks and agent can place with a single insurer in one calendar year if the agent is not listed with that insurer? |
5 |
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What authority decides whether a person's license should be revoked? |
The commissioner |
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What is a statement made in an insurance application by the ensured that is the absolute truth the validity of the contract depends on the parties agreeing that the policy will not be binding unless the statement is literally true |
Warranty |
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What constitutes a prompt action? |
10 business days |
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Ensures must pay a claim within how many days of receiving proof of loss? |
30 days |
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What is the state minimum score for readability on a Medicare supplement policy? |
50 |
