Question 9005 of 287 · Texas Life, Accident and Health Agent Exam
If an agent collects the initial premium with the application, the agent should
Exactly one answer is correct.
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Correct answer to question 9005
- D: give the applicant a receipt that states the type of coverage, if any, and the conditions
Explanation
Premiums collected are the insurer's funds and must be submitted promptly. The receipt establishes the terms for coverage before the policy is delivered.
More questions: Accident and Health: Field Underwriting Procedures
- 9006An agent who deposits a client's premium in a personal account has committed
- 9007When delivering a policy, the agent should explain
- 9008If the policy issued differs from the one applied for (for example, with a rating or exclusion), the agent should
- 9009Replacing an existing health policy with a new policy without regard to the client's interests is
- 9010Twisting is
- 9011Churning is