Alcohol Beverage Control (ABC) Laws And Procedures Practice Test

When a life insurance policy is issued with a conditional receipt, when does coverage become effective?

On the date of the receipt, provided the applicant is found insurable Only upon policy delivery Only when the policy is approved by the home office Three days after the application date

Correct Answer:

On the date of the receipt, provided the applicant is found insurable

Explanation:

A conditional receipt makes coverage effective on the date of application or medical exam, provided the applicant is insurable at the applied-for risk class.

Access more questions from this quiz

Continue to Alcohol Beverage Control (ABC) Laws and Procedures Practice Test for more practice questions and the full quiz experience.

Access More Questions