Exam (elaborations)
NE State insurance exam Questions and Answers (Latest 2024)
- Course
- Institution
NE State insurance exam Questions and Answers (Latest 2024)
[Show more]
Content preview
NE State insurance exam Questions andAnswers (Latest 2024)
All of the following influence the premiums charged for life
insurance policies, Except?
A. Mortality
B. Agent Commissions
C. Investment Return
D. Insurance comissioner - Correct Answer ✅Insurance
Commissioner
Spreads the risk of loss from one person to a large number of
people through the pooling of collected premiums? - Correct
Answer ✅Insurance
Insurance aids in reducing uncertainty with regard to possible
financial losses. What definition best identifies the
uncertainty concerning loss or chance of loss? - Correct
Answer ✅Risk
What best defines the concept known as life insurance? -
Correct Answer ✅The immediate creation of funds
,NE State insurance exam Questions and
Answers (Latest 2024)
An insurance contract is an agreement between two parties.
What are the parties involved in a life insurance contract? -
Correct Answer ✅Insurer and policy owner
Several financial burdens exist upon the death of an
individual. Each of the following is a cost associated with
death, EXCEPT:
A. Burial Expenses
B. Estate Taxes
C. Indemnification Expenses
D. Debt Obligations - Correct Answer ✅Indemnification
expenses
In order for one person to purchase life insurance in the life of
another a valid insurable interest must be present. When
must insurable interest exist in a life insurance? - Correct
Answer ✅At the time of the application
What will help to reduce or avoid adverse selection? -
Correct Answer ✅Sound underwriting
, NE State insurance exam Questions and
Answers (Latest 2024)
What approach is used to determine the appropriate amount
of life insurance involved in an individual's future earning
capacity? - Correct Answer ✅Human life value approach
A net single premium primarily looks at what? - Correct
Answer ✅Death benefit
An insurer that is chartered in the state of New Jersey and is
authorized in Connecticut is referred to in the latter state as
what? - Correct Answer ✅Foreign insurer
An authorized company whose principal office is located in
this State operates in this State as? - Correct Answer
✅Domestic company
An insurer owned by its policyholders best describes? -
Correct Answer ✅A mutual company
What is a reciprocal managed by? - Correct Answer ✅An
attorney-in-fact
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 Allivia. 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)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now