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CPCU 520 Final Exam Questions and Answers
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CPCU 520 Final Exam Questions and Answers What is the formula for the GAAP method for determining return on equity Net Income / Average Owners Equity State insurance departments enforce insurance laws enacted by the state legislature Previous Play Next Rewind 10 seconds Move ...

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  • October 24, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cpcu 520 final exam questions and answers
  • what is the formula for the gaap method for determ
  • state insurance departments enforce insurance laws

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  • CPCU - Chartered Property Casualty Underwriter
  • CPCU - Chartered Property Casualty Underwriter

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CPCU 520 Final Exam Questions and
Answers
What is the formula for the GAAP method for determining return on equity - answer
Net Income / Average Owners Equity

State insurance departments enforce insurance laws enacted by the - answer state
legislature

What are the underwriting profitability functions of an insurer? - answer guarding
against adverse selection, ensuring adequate policyholders' surplus, and enforcing
underwriting guidelines.

what is the co-participation provision of a primary insurer in it's reinsurance program -
answer a provision in a reinsurance agreement that requires the primary insurer to
retain a specified percentage of the losses that exceed its attachment point

Generally the largest liability on the insurer's balance sheet and a significant part of an
insurer's financial condition are the - answer Loss reserves for future claim
payments.

What are the steps in the claims handling process? - answer acknowledging and
assigning the claim, identifying the policy and setting reserves, contacting the insured or
the insured's representative, investigating and documenting the claim, determining the
cause of loss, liability, and the loss amount.

What is affinity marketing - answer group marketing that targets various groups
based on profession, association, interests, hobbies, and attitudes.

Computer processing or output that simulates human reasoning or knowledge is
referred to as - answer artificial intelligence

A commercial insurer has historically targeted small businesses. It is considering
expanding its market to middle market organizations. To succeed, the insurer will need
to develop a level of expertise in which one of the following areas? - answer Risk
financing alternatives

When using prospective loss costs supplied by advisory organizations to produce rates,
each insurer must apply its own - answer loss cost multiplier

A primary insurer is able to obtain surplus relief through reinsurance by - answer
Receiving ceding commissions to offset policy acquisition expenses

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