Mutual insurance company - Study guides, Class notes & Summaries
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Life accident and health insurance Mississippi Questions and Answers with complete solution
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1. private insurers 
2. government insurers - 2 types of entities providing insurance today 
1. stock insurance companies 
2. mutual insurance companies - the 2 largest types of commercial insurance companies 
Stock insurance companies - owned by stockholders, these companies dividends, when declared, to 
their stockholders. have minimum capital requirements and are governed by a board of directors elected 
by their stockholders 
Mutual insurance companies - owned by their policy owners; have no...
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
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PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2024/ 2025
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PRIMERICA LIFE INSURANCE EXAM 
WITH 100% CORRECT ANSWERS 2025 
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 - Correct answer-A. mutual 
funds not paid out after paying claims and other operating costs are re...
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Kentucky Life Insurance State Exam Practice Questions with Certified Answers
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Kentucky Life Insurance State Exam Practice Questions with Certified Answers 
The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer 
Which of these is NOT considered to be a cost connected with an individual's death? Business expenses 
These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted 
Which of these is NOT relevant when determining the amount of personal life...
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Alabama Life & Health Insurance Exam Questions and answers
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Alabama Life & Health Insurance Exam 
Questions and answers 
Which of the following would be considered a speculative risk? - 
ANSWER-The possibility the painting you bought might be a long-lost 
masterpiece 
A speculative risk is one in which there is a chance for either loss or 
gain. Example: Gambling, Casino's, Lottery, etc. All of the other 
choices describe pure risk, where there is no chance of gain, only a 
chance of loss exists. 
Which is the proper term for a company owned by its poli...
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West Virginia Insurance Property & Casualty Exam | 200 Questions with 100% Correct Answers | Verified | Latest Update 2024
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a domestic user will be examined by the commissioner at least once every ___ - 5 years. 
an insurance company owned by its policyholder is known as ___ - mutual insurance company. 
an insurance company headquartered in ohio, conducting business with west virginia is know as ___ - 
foreign insurer. 
agent wilson strikes a deal with his client: if the client agree to purchase homeowners insurance from 
agent wilson, wilson will waive the clients first premium payment. wilson is guilty of ___ - reb...
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Michigan Credit Insurance Producer Study Guide with Verified Solutions | Latest 2024/2025
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Producer ️ licensed person who has the authority to sell, solicit, or 
negotiate insurance contracts 
Who has permission to cancel the license? ️ the commissioner 
Agent ️ person or corporation authorized to solicit insurance, collect 
premiums & transact insurance business on behalf of an insurance 
company 
Producer is appointed by who ️ appointed by the agent to represent the 
insurer & an insurer can cancel the appointment of agent 
DIFS ️ Dept of Insurance and Financial Services, ...
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CA LIFE EXAM - PSI - Questions and Answers Latest 2024
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A participating company is also referred to as which type of insurer? - CORRECT 
ANSWER-Mutual insurer 
An insurer owned by its policyholders, is called a - CORRECT ANSWER-Mutual 
insurer 
What is a participating life insurance policy? - CORRECT ANSWER-Contract that 
allows the policyowner to receive a share of surplus in the form of policy 
dividends 
An insurer enter into a contract with a third-party to ensure itself against losses 
from insurance policies it issues. What is this agreement ca...
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
- Exam (elaborations) • 33 pages • 2023
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
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FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS
- Exam (elaborations) • 10 pages • 2023
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FLORIDA LIFE INSURANCE/ ANNUITIES 
2-14 STUDY SET EXAM WITH CORRECT 
ANSWERS 
Which of the following individuals MUST be licensed as an agent? - CORRECT 
ANSWER-A person who places insurance on behalf of anyone seeking insurance. 
Which of the following statements regarding a nonresident insurance agent is 
CORRECT? - CORRECT ANSWER-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...
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