A participating insuranc - Study guides, Class notes & Summaries

XCEL SOLUTIONS: GEORGIA LIFE-ONLY PRE-LICENSING EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ When a policy pays dividends to its policyholders, it is said to be -profitable -mutual -nonparticipating -participating Correct Answer: -Participating A participating policy is one in which insurance policies pay out dividends to the policyholders. A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is...

Florida 2-15 Insurance Exam with Complete SolutionsExam with Solutions In the insurance business, risk can best be defined as: A. sharing the possibility of a loss B. uncertainty regarding the future C. uncertainty regarding financial loss D. uncertainty regarding when death will occur Which of the following risks is insurable? A. pure risks B. gambling C. speculative risks D. investing Buying insurance is one of the most ef- fective ways of A. avoiding risk B. transferring risk ...

Wisconsin Life Insurance Exam Prep 2024 Updated Stock insurer - CORRECT ANSWER-- Owned by stockholders/shareholders - Pays taxable dividends to shareholders if a profit is made -Issues nonparticipating policies (non-PAR) Mutual Insurer - CORRECT ANSWER-- An insurer that is owned by its policyholders - If company is profitable, excess premiums are returned as non-taxable dividend -Issues participating (Par) policies Fraternal Benefit Societies - CORRECT ANSWER--Life or health insurance ...

NORTH CAROLINA XCEL TESTING LIFE & HEALTH INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated: Correct Answer: 1970 - Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their risk exposure? Correct Answer: Treaty What is the name of the law that requires insurers to disclose informa...

Florida Health Insurance Exam latest 2023/24 complete solution Accident - An unplanned, unforeseen event which occurs suddenly and at an unspecified place Accident Insurance - A type of insurance that protects the insured against loss due to accidental bodily injury Accidental Bodily Injury - Unplanned, unforeseen traumatic injury to the body Accidental Death and Dismemberment - An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the i...

which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business - Answer- knowing that his family is depending on him, Frank wants to insure his own lif...

james bought a life insurance policy 18 months ago. If he commits suicide today, what, if anything, would the insurer be obligated to pay the beneficiary? -the full death benefit -the death benefit minus premiums paid -refund of the premiums paid -nothing - ANSWER If you commit suicide within 2 years after purchasing a life insurance policy, the insurer is obligated to only refund the premiums paid to your beneficiary. in some states, employers can buy group life insurance for their emp...

webce Exam questions and Answers which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business - Correct answer knowing that his family is dependin...

webce test questions with correct answers which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business . Agent Jill received a letter from the D...

If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be - Answer- Authorized A participating insurance policy may do which of the following? - Answer- Pay dividends to the policy owner An insured owns a life insurance policy. To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. There is a limit for a withdrawal and the insurer charges a fee. What type of policy does the in...