Alien insurer - Study guides, Class notes & Summaries

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock (Ans- A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds are...

Primerica Life Insurance Exam 2024 100% Passed An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - Answer ️️ -A. mutual funds not paid out after paying claims and other operating costs are returned to the po...

Georgia Life and Health Insurance Exam Questions and Answers 100% Pass Accident - Correct Answer ️️ -An unplanned unforseen event which occurs suddenly at an unspecified place Accident insurance - Correct Answer ️️ -A type of insurance that protects the insured against loss due to an accidental bodily injury Accidental bodily injury - Correct Answer ️️ -Unplanned unforseen traumatic injury to the body Accidental Death and Dismemberment - Correct Answer ️️ -An insurance po...

Accident - Answer-A sudden event, unforeseen and unintended Claim - Answer-A demand for payment under the insurance policy Absolute assignment - Answer-A transfer by the policy holder of all control and rights to a third party Accident and Sickness - Answer-Insurance against bodily injury, disability or death by accident, or against disability or expense resulting from sickness, and the insurance relating thereto Accidental Means - Answer-The unexpected cause of an accidental bodily injury....

NJ Title Insurance Exam updated 2023/24 Reloaded| 100% verified In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? - Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? - Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? - Federal Government Activitie...

Which of the following individuals MUST be licensed as an agent? - A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary license to which of the following individuals? - A surviving spouse of a deceased agent A person is required t...

California Life Accident and Health Exam Practice 2024 A ABC INSURANCE -Answer-JOHN IS THE AGENT FOR ABC INSURANCE AND JANE IS THE INSURED. WHO IS THE PRINCIPAL IN THIS AGENCY RELATIONSHIP? A ABC INSURANCE B JOHN C JANE D NONE D ADMITTED -Answer-A(N) ________ INSURER IS AUTHORIZED TO WRITE INSURANCE POLICIES IN A PARTICULAR STATE. A DOMESTIC B NON-ADMITTED C FOREIGN D ADMITTED B A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF AN INSURED -Answer-WHICH OF THE FOLL...

Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated Insurance transfer of risk Speculative risk has a possibility of both loss and gain Pure risk only has a possibility of loss (no gain) Exposure risks for which an insurance company would be liable expressed in units Peril cause of a loss Hazard an increase in the chance of loss Moral hazard arise from people's character (faking a loss) Morale hazard state of mind or careless attitude (accidentally lea...

Primerica Life Insurance Test Exam Questions and Correct Answers 2024/2025 An example of an alien insurer doing business in this state is one formed under the laws of - CORRECT ANSWER-Mexico Partners in a business want to make sure that if - CORRECT ANSWER-Buy-Sell Agreement Ten years ago an insured purchased a life insurance policy designed to pay his family $500 - CORRECT ANSWER-Family income policy An agent delivers a policy to an applicant who pays the initial premium but refus...

Examination of Records - The Commissioner can examine anyone in the business of insurance in the state at anytime. A company shall be examined every 5 years. Notice and Hearing - the Commissioner may call and hold hearings for any purpose deemed necessary. Insurance Commissioner - the commissioner may conduct investigations or examinations whenever deemed necessary, subpoena the witnesses to testify. cease and desist order - the commissioner may issue this order to any person committed ...