XCEL Chapter 1 Exam 2023 with 100% correct answers
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Course
Xcel
Institution
Xcel
Stock insurer - correct answer -A non-participating company is also called
Insurance policy - correct answer -Contract that involves one party which indemnifies another when a loss arises from an unknown event
Mutual - correct answer -A type of insurer that is owned by its policy owners is ca...
XCEL Chapter 1 Exam 2023 with 100% correct answers
Stock insurer - correct answer -A non-participating company is also called
Insurance policy - correct answer -Contract that involves one party which indemnifies another when a loss arises from an unknown event
Mutual - correct answer -A type of insurer that is owned by its policy owners is called
Because dividends are considered to be a return of premium - correct answer -Why are dividends from a
mutual insurer not subject to taxation?
Participating life insurance policy - correct answer -Life insurance policy issued by a mutual insurer provides a return of divisible surplus
Exist for profit - correct answer -Fraternal Benefit Society does NOT
Reinsurance - correct answer -Type of insurance where an insurer transfers loss exposures from policies written for its insurers
It is the distribution of excess of funds accumulated by the insurer on participating policies - correct answer -What is a true statement regarding a life insurance policy dividend?
Mutual Insurer - correct answer -Insurer owned by its policyholders
Reinsurer - correct answer -A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called the
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