LOMA 291 Module 1 Lesson 1 Questions & Accurate Solutions
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Course
LOMA 291
Institution
LOMA 291
stakeholder - Correct Answer A party that has an interest in how a company conducts its business. Also known as a constituent.
dividend - Correct Answer Compensation that a company may pay to owners upon a vote by the company's board of directors.
financial professional - Correct Answer In...
LOMA 291 Module 1 Lesson 1 Questions &
Accurate Solutions
stakeholder - Correct Answer A party that has an interest in how a company conducts its business. Also
known as a constituent.
dividend - Correct Answer Compensation that a company may pay to owners upon a vote by the
company's board of directors.
financial professional - Correct Answer In insurance sales, any individual—including agents, bank-
affiliated sales personnel, and brokers—who is licensed to sell insurance products, solicit sales, or
negotiate insurance contracts.
reinsurance - Correct Answer Insurance that one insurance company, known as the direct writer,
purchases from another insurance company, known as the reinsurer, to transfer all or part of the risk on
insurance policies that the direct writer issued.
board of directors - Correct Answer A corporation's governing body, elected by the owners, that makes
broad policy decisions to ensure that stakeholder interests are safeguarded appropriately.
governance - Correct Answer A corporate board's accountability, responsibility, and authority to direct
an organization to properly fulfill its missions on behalf of legitimate stakeholders.
inside director - Correct Answer A member of the board of directors who also holds a position within
the company.
outside director - Correct Answer A member of the board of directors who does not hold a position
within the company. Also known as an independent director.
ethics - Correct Answer A system of accepted standards of conduct and moral judgment that combines
the elements of honesty, integrity, and fair treatment.
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