Life Insurance FundamentalsQuestion 142 of 315
What role does the agent play in 'field underwriting'?
a.The agent has authority to issue the policy on the spot without home-office approval
b.The agent performs initial screening, gathers accurate application information, and identifies obvious uninsurable risks
c.The agent sets the final premium rate and risk class
d.The agent collects the medical exam fee directly from the applicant
Explanation
Field underwriting is the agent's contribution to the underwriting process. The agent screens applicants for obvious red flags, ensures the application is complete and truthful, and forwards a clean file to the home-office underwriter. The agent does not set rates or issue the policy.
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