Exam (elaborations)
Xcel solutions chapter exam basic principles Questions and Answers 2024
- Course
- Institution
Xcel solutions chapter exam basic principles
[Show more]
Content preview
Xcel solutions chapter exam basicprinciples
What type of reinsurance contract involves two companies automatically sharing their
risk exposure? - answer treaty
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the - answer Fair Credit Reporting Act
A group-owned insurance company that is formed to assume and spread the liability
risks of its members is known as a - answer risk retention group
When a policy pays dividends to its policyholders, it is said to be - answer participating
What year was the McCarran-Ferguson act enacted - answer1945
Which of the following requires insurers to disclose when applicant's consumer or credit
history - answer1970 fair credit reporting act
The stated amount or percent of liquid assets that an insurer must have on hand that
will satisfy future obligations to its policyholders is called - answerreserves
A nonprofit incorporated society that does not have capital stock and operates for the
sole benefit of its members is known as: - answerfraternal benefit society
Who elects the governing body of a mutual insurance company? - answerPolicyholders
What is the name of the law that requires insurers to disclose information gathering
practices and where the information was obtained - answerFair Credit Reporting Act
At what point must a life insurance applicant be informed of their right that fall under the
fair credit reporting act - answerUpon completion of the application
Divdends payable to policyowner are - answerDeclared by insurance company
What of these describe a participating insurance policy - answerPolicyowner are entitled
to receive dividends
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82215 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now