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XCEL Chapter 1 Exam Review Questions and Answers
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XCEL Chapter 1 Exam Review Questions and Answers
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XCEL Chapter 1 Exam Review Questionsand Answers
Stock iiinsurer ii- iiAnswers ii-A iinon-participating iicompany iiis iialso iicalled
Insurance iipolicy ii- iiAnswers ii-Contract iithat iiinvolves iione iiparty iiwhich iiindemnifies
iianother iiwhen iia iiloss iiarises iifrom iian iiunknown iievent
Mutual ii- iiAnswers ii-A iitype iiof iiinsurer iithat iiis iiowned iiby iiits iipolicy iiowners iiis iicalled
Because iidividends iiare iiconsidered iito iibe iia iireturn iiof iipremium ii- iiAnswers ii-Why iiare
iidividends iifrom iia iimutual iiinsurer iinot iisubject iito iitaxation?
Participating iilife iiinsurance iipolicy ii- iiAnswers ii-Life iiinsurance iipolicy iiissued iiby iia
iimutual iiinsurer iiprovides iia iireturn iiof iidivisible iisurplus
Exist iifor iiprofit ii- iiAnswers ii-Fraternal iiBenefit iiSociety iidoes iiNOT
Reinsurance ii- iiAnswers ii-Type iiof iiinsurance iiwhere iian iiinsurer iitransfers iiloss
iiexposures iifrom iipolicies iiwritten iifor iiits iiinsurers
It iiis iithe iidistribution iiof iiexcess iiof iifunds iiaccumulated iiby iithe iiinsurer iion iiparticipating
iipolicies ii- iiAnswers ii-What iiis iia iitrue iistatement iiregarding iia iilife iiinsurance iipolicy
iidividend?
Mutual iiInsurer ii- iiAnswers ii-Insurer iiowned iiby iiits iipolicyholders
Reinsurer ii- iiAnswers ii-A iilife iiinsurance iicompany iihas iitransferred iisome iiof iiits iirisk iito
iianother iiinsurer. iiThe iiinsurer iiassuming iithe iirisk iiis iicalled iithe
Marketing ii- iiAnswers ii-One iiimportant iifunction iiof iian iiinsurance iicompany iiis iito
iiidentify iiand iisell iito iipotential iicustomers. iiWhich iiof iithese iiBEST iidescribes iithis
iifunction?
Participating iipolicy ii- iiAnswers ii-John iiowns iian iiinsurance iipolicy iithat iigives iihim iithe
iiright iito iishare iiin iithe iiinsurer's iisurplus. iiWhat iikind iiof iipolicy iiis iithis?
Non-participating iipolicy ii- iiAnswers ii-Does iinot iiparticipate iiin iipaying iidividends
Participating iilife iiinsurance iipolicy ii- iiAnswers ii-Contract iithat iiallows iithe iipolicy iiowner
iito iireceive iia iishare iiof iisurplus iiin iithe iiform iiof iipolicy iidividends
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