Exam (elaborations)
NE State insurance exam Questions and Answers (Latest 2024)
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NE State insurance exam Questions and Answers (Latest 2024)
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NE State insurance exam Questions andAnswers (Latest 2024)
All of the following influence the premiums charged for life
insurance policies, Except?
A. Mortality
B. Agent Commissions
C. Investment Return
D. Insurance comissioner - Correct Answer ✅Insurance
Commissioner
Spreads the risk of loss from one person to a large number of
people through the pooling of collected premiums? - Correct
Answer ✅Insurance
Insurance aids in reducing uncertainty with regard to possible
financial losses. What definition best identifies the
uncertainty concerning loss or chance of loss? - Correct
Answer ✅Risk
What best defines the concept known as life insurance? -
Correct Answer ✅The immediate creation of funds
,NE State insurance exam Questions and
Answers (Latest 2024)
An insurance contract is an agreement between two parties.
What are the parties involved in a life insurance contract? -
Correct Answer ✅Insurer and policy owner
Several financial burdens exist upon the death of an
individual. Each of the following is a cost associated with
death, EXCEPT:
A. Burial Expenses
B. Estate Taxes
C. Indemnification Expenses
D. Debt Obligations - Correct Answer ✅Indemnification
expenses
In order for one person to purchase life insurance in the life of
another a valid insurable interest must be present. When
must insurable interest exist in a life insurance? - Correct
Answer ✅At the time of the application
What will help to reduce or avoid adverse selection? -
Correct Answer ✅Sound underwriting
, NE State insurance exam Questions and
Answers (Latest 2024)
What approach is used to determine the appropriate amount
of life insurance involved in an individual's future earning
capacity? - Correct Answer ✅Human life value approach
A net single premium primarily looks at what? - Correct
Answer ✅Death benefit
An insurer that is chartered in the state of New Jersey and is
authorized in Connecticut is referred to in the latter state as
what? - Correct Answer ✅Foreign insurer
An authorized company whose principal office is located in
this State operates in this State as? - Correct Answer
✅Domestic company
An insurer owned by its policyholders best describes? -
Correct Answer ✅A mutual company
What is a reciprocal managed by? - Correct Answer ✅An
attorney-in-fact
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