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XCEL Solutions Already Graded A+
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XCEL Solutions Already Graded A+ 1. A nonparticipating company is sometimes called a: - A) ️ Stock insurer - B) Mutual insurer - C) Fraternal insurer - D) Reinsurer 2. Fraternal Benefit Society has each of the following characteristics except: - A) Nonprofit status - B) Membersh...

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  • August 15, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • xcel solutions already graded a

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XCEL Solutions Already Graded A+


1. A nonparticipating company is sometimes called a:

- A) ✔️ Stock insurer

- B) Mutual insurer

- C) Fraternal insurer

- D) Reinsurer



2. Fraternal Benefit Society has each of the following characteristics except:

- A) Nonprofit status

- B) Membership based on a common bond

- C) Provides benefits to members

- D) ✔️ Exist for profit



3. The Fair Credit and Reporting Act's main purpose is to:

- A) Regulate credit card companies

- B) ✔️ Protect consumers with guidelines regarding credit reporting and distribution

- C) Increase competition among lenders

- D) Provide insurance coverage for credit risks



4. A life insurance company has transferred some of its risk to another insurer. The insurer assuming the
risk is called the:

- A) ✔️ Reinsurer

- B) Primary insurer

- C) Sibling insurer

- D) Participating insurer



5. What kind of life insurance policy issued by a mutual insurer provides a return of divisible surplus?

, - A) Nonparticipating life insurance policy

- B) ✔️ Participating life insurance policy

- C) Fixed life insurance policy

- D) Whole life insurance policy



6. What is considered to be the primary reason for buying life insurance?

- A) Accumulate cash value

- B) ✔️ Provide death benefits

- C) Save for retirement

- D) Tax benefits



7. An insurer's ability to make unpredictable payouts to policyowners is called:

- A) Capital

- B) Profitability

- C) ✔️ Liquidity

- D) Solvency



8. The Do Not Call Registry offers exemptions for calls placed from all of the following except:

- A) Political organizations

- B) Charitable organizations

- C) ✔️ Insurance sales calls

- D) Survey organizations



9. Why are dividends from a mutual insurer not subject to taxation?

- A) Because they are treated as income

- B) ✔️ Because dividends are considered to be a return of premium

- C) Because they do not exceed certain thresholds

- D) Because they are earned through investments

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