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Arizona Basic Principles of Insurance Pre Exam Questions With Solved Solutions. $9.49   Add to cart

Exam (elaborations)

Arizona Basic Principles of Insurance Pre Exam Questions With Solved Solutions.

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  • Course
  • Arizona Life and Health Insurance
  • Institution
  • Arizona Life And Health Insurance

Acturarial Departments - Answer calculated policy rates, reserves, and dividends Alien Insurer - Answer Main office is located outside the US Admitted Insurer - Answer Receives certificate of authority from state and is allowed to conduct insurance business in that state Broker - Ans...

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  • September 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Arizona Life and Health Insurance
  • Arizona Life and Health Insurance
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Arizona Basic Principles of Insurance
Pre Exam Questions With Solved
Solutions.
Acturarial Departments - Answer calculated policy rates, reserves, and dividends



Alien Insurer - Answer Main office is located outside the US



Admitted Insurer - Answer Receives certificate of authority from state and is allowed to conduct
insurance business in that state



Broker - Answer Represents themselves and then insurer



Captive Insurer - Answer established and owned by a parent firm for the purpose of insuring the parent
firms loss exposure



Certificate of Authority - Answer Issued to insurer which allows them to conduct insurance business



Claims Department - Answer responsible for processing, investigating and paying claims `



Divisible Surplus - Answer is the amount of earnings paid to policy owners as dividends after the
insurance company sets aside funds required to cover reserves, operating expenses, and general
business purposes.



Domestic Insurer - Answer an insurer with its principal or home office in a state where it is authorized



Foreign Insurer - Answer is in different state from which its transacting insurance business



Fraternal Benefit Society - Answer Nonprofit benevolent organizations that provide insurance to its
members

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