Common Sources of Underwriting Information for Life and Health Insurance

question 41

Multiple Choice

Common sources of underwriting information for life and health insurance include all of the following EXCEPT

• A)the application.
• B)a physical examination.
• C)the Medical Information Bureau.
• D)the applicant's income tax return.

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Definitions:

Trade Discounts

Discounts from the list prices in published catalogs or special discounts offered to certain classes of buyers.

List Prices

The pre-discount price at which goods and services are listed to be sold to customers.

FOB Destination

This term refers to a shipping agreement where the seller bears the shipping costs and remains responsible for the goods until they are delivered to the buyer's location.

Purchase Discount

A deduction that a buyer receives on the invoice price of a purchase if the payment is made within a specified period.