Exam (elaborations)
Wisconsin Accident and Health Insurance Exam (230 questions and answers).
- Course
- Just Wisconsin
- Institution
- University Of Wisconsin-Madison
Wisconsin Accident and Health Insurance Exam (230 questions and answers).
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WisconsinAccident and
Health Insurance
Exam (230
questions and
answers)
Dividends from a stock company are normally sent to:
Beneficiaries
Shareholders
Policy holders
Insureds - answer 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 - answer Life insurance
Which of the following outlines the authority given to the
producer on behalf of the insurer?
Rebating arrangement
Commingling contract
Controlled business clause
Producer contract - answer Producer contract
Dividends from a mutual insurance company are paid to
whom?
Policyholders
Beneficiaries
Preferred stockholders
Stockholders - answer Policyholders
A stock insurance company is owned by its
Officers
Board directors
Policyowners
Shareholders - answer Policyowners
,A reciprocal insurer typically has an administrator who
manages the premiums collected from the group's
members. This administrator is called a(n)
Reciprocal commissioner
Attorney general
Attorney-in-fact
Reciprocal - answer Attorney-in-fact
which reinsurance contract between two insurers involves
an automatic sharing of the risks assumed?
Arbitrage reinsurance
Facultative reinsurance
Excess reinsurance
Treaty reinsurance - answer Treaty reinsurance
A group-owned insurance company that is formed to
assume and spread the liability risks of its members is
known as a
Risk retention group
Treaty insurer
Risk assumption group
Captive insurer - answer Risk retention group
, Which group is the Do not Registry designed to protect
against?
Telemarketers
Charities
Political organizations
Relatives - answer Telemarketers
who regulates an insurer's claim settlement practices?
National Association of Claim Adjusters
State attorney general
National Association of insurance Commissioners
State insurance departments - answer State insurance
departments
Which of the following is Not an example of risk
retention?
Becoming aware of a risk and taking no action
Self-insuring a given risk
Deciding a business deal is risky but going through with it
anyways
Not doing a business deal after deciding it would be too
risky - answer Not doing a business deal after deciding it
would be too risky
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