AD Banker Comprehensive Practice Exam

What type of report includes information about an applicant's work behavior or character gathered from neighbors or co-workers?

1. Inspection Report

2. Agent's Report

3. APS

4. MIB

The correct answer is: Inspection Report

The type of report that includes information about an applicant's work behavior or character gathered from neighbors or co-workers is an Inspection Report. Such reports are typically utilized in insurance underwriting to assess the applicant's lifestyle, character, and other personal attributes that may not be easily quantifiable through standard application questions or records. These reports can provide valuable insights into an individual’s reputation and reliability, thereby assisting insurance companies in making informed decisions. The other options do not fit this context. An Agent's Report generally pertains to information provided by an insurance agent regarding an individual’s circumstances or the details of an insurance application, rather than personal character insights. APS stands for Attending Physician's Statement, which focuses specifically on the medical history and current health status provided by the applicant's healthcare provider. The MIB, or Medical Information Bureau, primarily shares information related to an applicant's medical history and previous insurance applications but does not include the social insights that would come from an Inspection Report.