Chapter Exam - Basic Principles of Life and Hea
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Chapter Exam (1)- Basic Principles of Life and Health Insurance and Annuities Nonprofit Organizations What type of nonprofit organization operates without capital stock and benefits its members? Options: a. Fraternal benefit society; b. Stock insurer; c. Mutual insurer; d. Life and Health Insurance Guaranty Association Answer: a. Fraternal benefit society Reserves and Surplus What term refers to the amount of liquid assets an insurer must have on hand to satisfy future obligati...