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Xcel solutions chapter exam basic principles Questions and Answers 2024 $14.49   Add to cart

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Xcel solutions chapter exam basic principles Questions and Answers 2024

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Xcel solutions chapter exam basic principles

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  • November 5, 2024
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Xcel solutions chapter exam basic
principles

What type of reinsurance contract involves two companies automatically sharing their
risk exposure? - answer treaty

An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the - answer Fair Credit Reporting Act

A group-owned insurance company that is formed to assume and spread the liability
risks of its members is known as a - answer risk retention group

When a policy pays dividends to its policyholders, it is said to be - answer participating

What year was the McCarran-Ferguson act enacted - answer1945

Which of the following requires insurers to disclose when applicant's consumer or credit
history - answer1970 fair credit reporting act

The stated amount or percent of liquid assets that an insurer must have on hand that
will satisfy future obligations to its policyholders is called - answerreserves

A nonprofit incorporated society that does not have capital stock and operates for the
sole benefit of its members is known as: - answerfraternal benefit society

Who elects the governing body of a mutual insurance company? - answerPolicyholders

What is the name of the law that requires insurers to disclose information gathering
practices and where the information was obtained - answerFair Credit Reporting Act

At what point must a life insurance applicant be informed of their right that fall under the
fair credit reporting act - answerUpon completion of the application

Divdends payable to policyowner are - answerDeclared by insurance company

What of these describe a participating insurance policy - answerPolicyowner are entitled
to receive dividends

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