LLQP Ethics & Professional Practice · Component 2.2 · 40% of the exam
The agent's obligation when an insurer requests additional underwriting information from the client is to:
- AAnswer on the client's behalf from the agent's knowledge of the file, so the underwriting decision is not delayed
- BLeave the request unanswered, since the insurer already has enough information to make its decision
- CProvide an answer the agent believes to be accurate, since the client is unlikely to remember the details
- Obtain it from the client accurately and promptly, explain why it is needed, and never coach untrue answers
Correct answer: D) Obtain it from the client accurately and promptly, explain why it is needed, and never coach untrue answers
Facilitating accurate information flow is the agent's role; coaching false answers is fraud.
Why the other options are wrong
- AThe client, not the agent, must answer.
- BIgnoring the request delays or prevents issue.
- CInventing underwriting information is fraud.
Exam tip
Facilitate accurate answers; never coach falsehoods.
Common mistake
Telling the client 'just say you don't remember'.
What this tests
CISRO competency component 2.2 — Integrate into practice the rules governing the activities of life insurance agents — which is weighted at 40% of the Ethics & Professional Practice module. Written against the published curriculum.
More from component 2
- A prospective client wants to confirm that an agent is properly licensed before meeting him. She should:
- A dual-licensed agent's mutual fund business is reviewed following a client complaint. The review will be conducted by:
- Assuris coverage applies to:
- OLHI's services are available to:
- Complaints about an agent's conduct (as opposed to an insurer's claim decision) should be directed to:
- The best summary of an agent's ethical obligations is to:
Practice the whole Ethics & Professional Practice module
Timed sets weighted like the exam, and review of every question you miss. Free to start.