Captive insurer Study guides, Class notes & Summaries
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PA Life Insurance Exam – Latest 2024 Graded A+
- Exam (elaborations) • 43 pages • 2024
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PA Life Insurance Exam – Latest 2024 
 
Graded A+ 
 
Risk Uncertainty or chance of loss. When you buy or purchase insurance, you transfer the 
risk of Financial Liability to the Insurer (Risk Transferred). 
 
Self Insured You are considered to be Self-Insured if you do not purchase insurance. 
 
Risk Retention Not transferring the risk to the insurer. If you are Self Insured, then you are 
practicing Risk Retention. 
 
Pure Risk Chance of LOSS with NO chance of gain. Insurance is based upon th...
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WFG Final Exam Questions Rated 100% Correct!!
- Exam (elaborations) • 135 pages • 2024
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John owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of 
policy is this? 
-Non-participating 
-Contributory 
-Participating 
-Surplus - Answer-"Participating". 
Participating policies give the policyowner the right to 
share in the insurer's surplus. 
Which of the following is NOT a benefit of insurance? 
-Reduces the uncertainty of loss exposures 
-Losses due to fraud are eliminated 
-Makes a loss whole again 
-Source of investment funds - Answ...
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WFG Final Exam Questions With 100% Correct Answers
- Exam (elaborations) • 128 pages • 2024
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WFG Final Exam Questions With 100% 
Correct Answers 
John owns an insurance policy that gives him the right to share in the insurer's surplus. What 
kind of policy is this? 
-Non-participating 
-Contributory 
-Participating 
-Surplus - answer"Participating". 
Participating policies give the policyowner the right to 
share in the insurer's surplus. 
Which of the following is NOT a benefit of insurance? 
-Reduces the uncertainty of loss exposures 
-Losses due to fraud are eliminated 
-Makes a ...
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RMI 2101 Exam 2 Questions and Answers Already Passed
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RMI 2101 Exam 2 Questions and 
Answers Already Passed 
 
What are risk transfers of the financing type? (6) Involves the transfer of risk through 
insurance or non-insurance techniques to shift the financial responsibility of a loss to another 
party. The activity or asset is still exposed to loss. Financial responsibility can be transfered 
back. 
 
Explain the insurance and non-insurance techniques of risk transfers and provide examples. (6) 
Insurance: transfer financial responsibility to ins...
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Wisconsin Accident and Health Insurance Exam Questions and Answers 100% Pass
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Wisconsin Accident and Health 
 
Insurance Exam Questions and Answers 
 
100% Pass 
 
Dividends from a stock company are normally sent to: 
Beneficiaries 
Shareholders 
Policy holders 
Insureds Shareholders 
 
Which of the following financial products creates an instant estate, no matter when the date of 
death? 
Mutual funds 
Life insurance 
Certificate of deposit 
Deferred annuity Life insurance 
 
Which of the following outlines the authority given to the producer on behalf of the insurer? 
R...
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California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass
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California Life, Accident, and Health Licensing 
Exam Questions and Answers 100% Pass 
Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and 
the insured to share in the cost of services rendered 
Exclusion ratio - Correct Answer ️️ -The formula which is used by the IRS to determine 
how much is taxable to an annuitant during the pay out period. 
Occupational policy - Correct Answer ️️ -When a disability income policy provides 
coverage for injuries wh...
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Virginia Life Insurance and Annuities Questions and Answers Rated A+
- Exam (elaborations) • 27 pages • 2024
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Virginia Life Insurance and Annuities 
Questions and Answers Rated A+ 
 
Methods of Handling Risk (STARR) 1. Sharing (each member of group pays portion of loss) 
2. Transfer (spreading risk among customers) 
3. Avoidance (not engaging in certain activity) 
4. Reduction (lessening chance) 
5. Retention (indiv pays for loss) 
 
Elements of Insurable Risk (CANHAM) 1. Calculable (based on prior loss stats) 
2. Affordable (for avg consumer) 
3. Non-catastrophic (no widespread loss events) 
4. Homogen...
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AZ Life and Health Insurance Study Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct
- Exam (elaborations) • 104 pages • 2024
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AZ Life and Health Insurance Study Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct 
 
Q: Methods of Handling Risk: 
Avoidance, Retention, Sharing, Reduction, Transfer 
 
 
 
Q: Risk Retention 
 
 
Answer: 
the planned assumption of risk by an insured through the use of deductibles, co-payments, or self-insurance. It is also known as self-insurance when the insured accepts the responsibility for the loss before the insurance company pays. The purpose of retention is ...
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AZ Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A
- Exam (elaborations) • 46 pages • 2024
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AZ Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A 
 
Q: Which of these is an accurate statement regarding the fixed period settlement option on a life insurance policy? 
 
 
Answer: 
A portion of the payments paid to the beneficiary comes from interest calculated on the proceeds of the policy 
 
 
 
Q: Under what circumstance does an accident and health insurer have the right to request an autopsy? 
 
 
Answer: 
When not prohibited...
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RMIN 4000 Exam 2 Questions and Answers Already Passed
- Exam (elaborations) • 42 pages • 2024
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RMIN 4000 Exam 2 Questions and 
Answers Already Passed 
Major Types of Private Insurers Stock Insurers 
Mutual Insurers 
Lloyds of London 
Stock Insurer -A corporation owned by stockholders. 
-Objective is to earn profits for the stockholders by increasing stock and paying dividends. 
(Progressive, Allstate, Metlife, etc.) 
Mutual Insurer -a corporation owned by policyholders. 
-profits are distributed to policyholders by dividends or rate reductions. 
(statefarm, nationwide, liberty mutual) 
ty...
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