XCEL Solutions Exam Study Guide with Complete Solutions
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Course
Xcel
Institution
Xcel
XCEL Solutions Exam Study Guide with
Complete Solutions
a nonparticipating company is sometimes called a - Answer️️ -stock
insurer
Fraternal Benefit Society has each other the following characteristics except
- Answer️️ -exist for profit
The Fair Credit and Reporting Act's main purpos...
Why are dividends from a mutual insurer not subject to taxation? -
Answer✔️✔️-Because dividends are considered to be a return of premium
An insurer's claim settlement practices are regulated by the - Answer✔️✔️-
State Insurance Departments
All of the following are examples of pure risk EXCEPT - Answer✔️✔️-losing
money at a casino
Which of the following is considered to be an event or condition that
increases the probability of an insured's loss? - Answer✔️✔️-Hazard
An individual who removes the risk of losing money in the stock market
by never purchasing stocks is said to be engaging in - Answer✔️✔️-Risk
avoidance
The cause of a loss is referred to as - Answer✔️✔️-peril
Insurance represents the process of risk - Answer✔️✔️-transference
What is known as the immediate specific event causing loss and giving rise
to risk - Answer✔️✔️-Peril
An example of risk sharing would be - Answer✔️✔️-Doctors pooling their
money to cover malpractice exposures
Insurance companies determine risk exposure by which of the following? -
Answer✔️✔️-Law of large numbers and risk pooling
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