Underwriting

通報

問題一覧

Each occupation listed in iPoS has a corresponding occupational rating.

True

A contingent beneficiary is also known as a secondary beneficiary.

True

Instead of submitting a photocopy of your identification card, you can capture it in Next Gen iPoS when submitting your e-application.

True

Which instance/s will the advisor receive SMS advisory while the application is in process?

All of the above.

47 No adverse declaration in the application form ₱2 Million ₱3 Million (issued 6 months ago)

NON-MEDICAL

This is prepared by a consumer-reporting agency and contains information about a proposed insured's occupation, personal habits, hobbies, driving record, health and finances.

Inspection Report

Next Gen iPos is a convenient way of doing business that aims for faster approval of application.

True

You can re-apply at a later date if your application is postponed.

True

Next Gen iPoS can store client records, generate proposal or complete an e-application but not submit the application electronically.

False

66 No adverse declaration in the application form ₱10 Million P8 Million (issued 5 years ago)

MEDICAL

64 No adverse declaration in the application form ₱1 Million ₱2 Million (issued 3 months ago)

MEDICAL

Which questionnaire is an example of a Non-Medical Questionnaire?

Diving Questionnaire

The validity of a MEDEX report is one year from the date of medical examination.

False

61 No adverse declaration in the application form ₱3 Million ₱1 Million (issued 1.5 years ago)

MEDICAL

46 No adverse declaration in the application form ₱8 Million ₱3 Million (issued 6 months ago)

NON-MEDICAL

The older the Proposed-Insured, the lower the premium.

False

You can appoint a legal entity or an organization as a beneficiary.

True

Instead of submitting a photocopy of your identification card, you can capture it in Next Gen iPoS when submitting your e-application.

True

The validity of a Medical Examination (MEDEX) report is three months or 90 days from the date of medical examination by the approval date.

True

Build is the the single, most important indicator of the physical make-up of a person. It is the basis for premium computation.

False

Each occupation listed in iPoS has a corresponding occupational rating.

True

A contingent beneficiary is also known as a secondary beneficiary.

True

This questionnaire is required for Proposed Insured who is involved in a common-law relationship or has a live-in partner.

Confidential Report on Marital Status Questionnaire

Current residence and areas of travel might pose a level of risk. Which of the following should you look into?

All of the above.

Which information is NOT required when scheduling for a mobile clinic?

Advisor's office address

The Proposed-Insured (PI) just turned 40 years old last September 23, 2020. If the proposal date was generated is July 7, 2020. What would be his insurance age?

AGE 41

It is the best source of underwriting information as this contains all details about the Applicant-Owner and the Proposed-Insured.

Application Form

Who are considered to be High Risk Customers?

All of the above.

59 With adverse declaration ₱13 Million No existing coverage

MEDICAL

39 No adverse declaration in the application form ₱4 Million ₱1 Million (issued 4 years ago)

NON-MEDICAL

The Company reserves the right to require a medical examination or proofs of insurability as it may deem necessary on non-medical applications submitted by the advisor.

True

This pertains to the general lifestyle, reputation, behavior and overall conduct of the Proposed Insured that can increase his risk exposure.

What is the validity period of the application from the time it was signed by the client?

90 days

70 With adverse declaration ₱9 Million No existing coverage

MEDICAL

58 With adverse declaration ₱3 Million No existing coverage

MEDICAL

Which description/s is/are FALSE about Next Gen iPoS?

It is downloadable from the Apple Store.

This is required for application with significant premium payment to establish the payor's capacity to pay, sources of funds and overall financial standing.

Large Amount Questionnaire

The percentage sharing allocation of all primary beneficiaries must total to 100%.

True

A Field Underwriter is an employee of a life insurance company who assesses the risk factors that can impact the insurability of the Proposed-Insured.

False

If a certain occupation has a rating of ₱5.00 per thousand, how much additional premium will he be paying for a P1 Million coverage being applied for?

₱5,000

A Policy Owner is considered as a US Person if s/he has:

All of the above

An applicant-owner is required to provide at least one (1) valid ID to process his application.

True

Replacement of existing policies is always in the best interest of the client.

False

A common-law spouse with legal impediment (previous marriage is not yet dissolved) is an acceptable beneficiary.

False

This is a Next Gen iPoS menu where you input beneficiary designations, answer medical questions and assign commission sharing.

E-application menu

You use this when logging in to your Next Gen iPoS account.

Advisor code

Residence Certificate (Cedula) is an acceptable ID.

False

One of its functions is to detect and deter fraud and misrepresentation attempted by proposed insureds who omit or seek to conceal facts that are essential to accurate, proper, and reasonable classification of risks.

Medical Information Bureau (MIB)

Who are not considered to be Politically Exposed Persons (PEP)?

Barangay Councilors

30 No adverse declaration in the application form ₱5 Million No existing coverage

NON-MEDICAL

It refers to the comprehensive medical history and present health status of the Proposed-Insured or the Applicant-Owner.

Medical Examination Report

The Large Amount Questionnaire (LAQ) is required for ALL applications.

False

Driver's License is an acceptable form of identification.

True

Replacement of existing policies is NOT always in the best interest of the client.

True

Which statement is NOT TRUE about Underwriting?

It considers only one factor -the health condition of the client.

Practicing Know Your Customer will entail a long and cumbersome procedure with the client which is not beneficial to him.

False

It is NOT recommended that minors be designated as Irrevocable beneficiaries.

True

Which description/s is/are TRUE about Next Gen iPoS?

A and B only.

The advisor's NMA is absolute and is not subject to the company's right to require a medical examination or proofs of insurability as it may deem necessary.

False

Next Gen iPoS is a business tool that helps in processing the application faster.

True

Who are NOT considered to have High Risk Occupation?

Stockbrokers

Advisors can submit business on their own lives without a medical examination provided:

A and B only

Which questionnaire DOES NOT belong to the group?

Digestive Disorders Questionnaire

Which of the following occupations is most likely to be rated or classfied as a substandard case?

Firefighter

Next Gen iPoS can be installed and operated in iPhones and android tablets.

False

The validity of a MEDEX report is one year from the date of medical examination.

False

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