AD Banker Ch 1 & 2 Review

What is a stated dollar amount that applies per claim in addition to any other cost-sharing?

• Deductible

• Coinsurance

• Copayment

• Morbidity Table

Principal Types of Losses and Benefits

• Long-Term Care Expense

• Vision Insurance

• Medical Expense

• Car Insurance

What would be considered a Prohibited Form of Advertising

• Solicitation

• Outline of Coverage

• Private vs Government

• Marketing

What are some Underwriting Factors?

• Tobacco use

• Income

• Health history

• Physical condition

What is considered a Classification of Risks Premium Determination and Rating?

• Medical Examination

• Expenses

• Issued as a Preferred Risk

• Inspection Report

Types of Insurers Insurance Companies/Carriers:

• Fraternal Benefit Societies

• Insurance Agencies

• Domestic Insurer

• Insured

An applicant determined to have below average risk of loss would be:

• Issued a rated policy

• Declined for coverage

• Issued a standard policy

• Issued a preferred policy

What factors are not used in underwriting an individual disability policy?

• Age and gender

• Political affiliation and religious preference

• Health history and foreign travel

• Smoking and hobbies

A medical condition that was treated prior to the effective date of a policy is a:

• Prescribed Condition

• Probationary Condition

• Pre-existing Condition

• Surgical Condition

Which of the following would be considered legally competent to enter into a contract?

• A 13-year-old honor student

• A person deemed to be mentally incapacitated

• A person who is under the influence of drugs or alcohol

• A 25-year-old self-employed person