Exam (elaborations)
NE State insurance exam Questions and Answers (Latest Update 2024)
- Course
- Institution
NE State insurance exam Questions and Answers (Latest Update 2024)
[Show more]
Content preview
NE State insurance exam Questions andAnswers (Latest Update 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 ANSWERS Insurance Commissioner
Spreads the risk of loss from one person to a large number of people through the
pooling of collected premiums? - CORRECT ANSWERS 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 ANSWERS Risk
What best defines the concept known as life insurance? - CORRECT ANSWERS
The immediate creation of funds
An insurance contract is an agreement between two parties. What are the parties
involved in a life insurance contract? - CORRECT ANSWERS 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 ANSWERS 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 ANSWERS At the time of the application
, NE State insurance exam Questions and
Answers (Latest Update 2024)
What will help to reduce or avoid adverse selection? - CORRECT ANSWERS
Sound underwriting
What approach is used to determine the appropriate amount of life insurance
involved in an individual's future earning capacity? - CORRECT ANSWERS
Human life value approach
A net single premium primarily looks at what? - CORRECT ANSWERS 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 ANSWERS
Foreign insurer
An authorized company whose principal office is located in this State operates in
this State as? - CORRECT ANSWERS Domestic company
An insurer owned by its policyholders best describes? - CORRECT ANSWERS A
mutual company
What is a reciprocal managed by? - CORRECT ANSWERS An attorney-in-fact
Who do Fraternals offer various types of insurance programs to? - CORRECT
ANSWERS For their members only
Insurance rating services analyze insurers based upon all of the following criteria,
EXCEPT?
Personnel practices
Expense ratios
A product mix
Insurer reserve adequacy - CORRECT ANSWERS Personnel practices
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICNURSING001. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75391 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now