Arizona Basic Principles of Insurance Pre Exam Questions With Solved Solutions.
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Course
Arizona Life and Health Insurance
Institution
Arizona Life And Health Insurance
Acturarial Departments - Answer calculated policy rates, reserves, and dividends
Alien Insurer - Answer Main office is located outside the US
Admitted Insurer - Answer Receives certificate of authority from state and is allowed to conduct insurance business in that state
Broker - Ans...
Arizona Basic Principles of Insurance
Pre Exam Questions With Solved
Solutions.
Acturarial Departments - Answer calculated policy rates, reserves, and dividends
Alien Insurer - Answer Main office is located outside the US
Admitted Insurer - Answer Receives certificate of authority from state and is allowed to conduct
insurance business in that state
Broker - Answer Represents themselves and then insurer
Captive Insurer - Answer established and owned by a parent firm for the purpose of insuring the parent
firms loss exposure
Certificate of Authority - Answer Issued to insurer which allows them to conduct insurance business
Claims Department - Answer responsible for processing, investigating and paying claims `
Divisible Surplus - Answer is the amount of earnings paid to policy owners as dividends after the
insurance company sets aside funds required to cover reserves, operating expenses, and general
business purposes.
Domestic Insurer - Answer an insurer with its principal or home office in a state where it is authorized
Foreign Insurer - Answer is in different state from which its transacting insurance business
Fraternal Benefit Society - Answer Nonprofit benevolent organizations that provide insurance to its
members
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