Question
a.
To receive a birthday or anniversary gift from the insurance companyIt always shortens the policy's tenure
b.
To confuse the insurance companyIt always extends the policy's tenure
c.
To have an excuse to throw a partyIt has no impact on the policy's tenure
d.
To make it easier to remember their premium due dateIt can shorten the policy's tenure and facilitate early maturity
Posted under IC38 Life Insurance Agent Exam
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. Why might someone backdate their insurance policy to coincide with their birthday or anniversary?How does backdating affect the tenure of an insurance policy?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. How can backdating be beneficial in terms of the premium?
View solution
Q. What is one purpose of backdating an insurance policy?
View solution
Q. What does it mean when a person's chest is expanded by at least four centimeters in the context of build?
View solution
Q. What can the specific gravity of urine indicate in medical underwriting?
View solution
Q. What does backdating mean in the context of insurance policies?
View solution
Q. What does high blood pressure indicate in medical underwriting?
View solution
Q. What is a person's build in the context of medical underwriting?
View solution
Q. What type of report may be called for individuals with adverse family history in medical underwriting?
View solution
Q. What is the significance of personal history in medical underwriting?
View solution
Q. Why do life insurers need to be cautious when dealing with individuals having adverse family history?
View solution
Q. What is one of the key factors evaluated in medical underwriting?
View solution
Q. Which aspect of family history is considered in medical underwriting to assess mortality risk?
View solution
Q. Which of the following is an example of moral hazard?
View solution
Q. What does "substance abuse" refer to in the context of lifestyle and habit risks?
View solution
Q. Which of the following is considered a lifestyle risk related to alcohol?
View solution
Q. How do insurance companies differentiate between smokers and non-smokers in terms of premiums?
View solution
Q. What lifestyle and habit factors are considered important in underwriting?
View solution
Q. In the context of underwriting, what is a "flat extra" related to an applicant's occupation?
View solution
Q. What may be required of an applicant for insurance if their occupation falls under a hazardous category?
View solution
Q. Which of the following is an example of a health hazard related to an occupation?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
