WorksheetsTGCS Week 2 Pop Quiz
Total questions: 23
Worksheet time: 23mins
What type of policy has the same due before date and cancel date?
Preferred Billing
Base Billing
Quarterly Billing
Paid in Full Billing
In which state may a customer be required to file an SR-50?
Indiana
Virginia
Georgia
Arkansas
A short-rate cancellation charges a penalty of up to what percentaage?
15%
10%
20%
25%
What is the maximum number of days you can request a due date change without supervisor approval or additional premium?
10
3
5
You always need approval/additional premium
What does UW stand for?
Underwater
Underwriting
Undermining
Underwinning
If a held installment is combined with the next month's bill instead of being sent out separately this is called?
Basic Held Installment
Auto Debit
Skip Held Installment
Fraud
To determine cost per day on a policy, which equation would you use?
Total Premium divided by the number of days in the term
Total Premium minus the earned premium
Monthly payment divide by 30 days
You cannot find the cost per day
What is the term used for premium that is owed for the number of days coverage was provided?
Pro-Rate
Short-Rate
Earned Premium
Unearned Premium
If you import 4 photos into Solcom, how many times should you route the policy to the workflow?
4
1
2
8
Generally speaking, are customers able to replace a Down Payment that was returned for insufficient funds?
Yes-The policy Flat Cancelled but they have 10 days to provide replacement payment.
No-They must start a new policy
Yes-They have up to 30 days
No-They are banned for life
What is an RWL ( reinstate with lapse credit)?
Credit for days of coverage the customer did not have due to a lapse
A bonus incentive offered to customers to encourage reinstatement
A penalty charged for the customer to reinstate their policy
A credit the customer will receive for paying their installment early.
Which resource contains our underwriting rules regarding acceptability?
Underwriting Guidelines
Declarations Page
State Differences Spreadsheet
SIS
This policy was cancelled by the insured's request. How much is the unearned premium?
$318.00
$0.04
$89.52
$81.04
This customer's policy was cancelled. On what date did coverage end?
12/22
10/22
6/22
Coverage did not end
This policy was cancelled. How much will be refunded to the customer?
$18.84
$363.00
$72.97
There is no refund amount to the customer.
This policy was cancelled. How much does the customer owe The General after the cancellation?
$18.84
$363.00
$10.00
The customer does not owe the company anything
What status is the customer's policy?
Lapsed
Pending Cancellation
Expired
Entry
When will the customer's policy lapse and for what reason?
The policy will lapse on 7/14 if we do not receive the missing information
Th e policy will lapse due to non-payment if the customer does not pay their outstanding balance
The policy will not lapse
When accepting voice signatures how should all screens be read to the customer?
Word for word
By breaking down main points so it is understood
By giving the customer a summary of what is being said
When completing a voice signature with a customer we should always re-ask the underwriting questions.
False
True
What is the most convenient way for a customer to sign their policy application?
My policy page
Voice Signature
By mail
Which of the following is correct about Steve's policy? Assume today is 9/12/2019
The policy will cancel if Steve does not provide the information requested on the underwriting letter
The policy will cancel 9/26/2019 unless a payment is made before that date
Due to certain reasons, Steve is currently without insurance
Steve does not owe anything on his policy
If a customer calls to set up auto debit today, when will it start drafting?
The current amount due will draft immediately
On the next invoice date ( Following Month)
At 12:01 am
Never
