Avoidance and retention - Study guides, Class notes & Summaries
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Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers
- Exam (elaborations) • 84 pages • 2023
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Arizona Life Insurance Exam 
Questions and Answers 
(Latest Update 2023) 
Verified Answers 
a whole life policy that provides a choice of dividend options include the 
following statement about dividends they accrue at a guaranteed rate 
they are deferred for one year they are not guaranteed they are guaranteed 
after the first year - Correct Answers they are not guaranteed 
When there is a named beneficiary on a life insurance policy, the death 
benefits 
1. are directed to a trustee ...
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PRIMERICA LIFE INSURANCE EXAM 2024 |Question and Answer| 100% Correct
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PRIMERICA LIFE INSURANCE EXAM 
2024 |Question and Answer| 100% 
Correct 
An insured purchased an insurance policy 5 years ago. Last year, she received a dividend 
check from the insurance company that was not taxable. This year, she did not receive a 
check from the insurer. From what type of insurer did the insured purchase the policy? 
a. mutual 
b. reciprocal 
c. nonprofit service organization 
d. stock *Ans* A. mutual 
funds not paid out after paying claims and other operating costs are r...
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Wisconsin Accident and Health Insurance Exam Questions and Correct Answers 100%
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Wisconsin Accident and Health 
Insurance Exam Questions and Correct 
Answers 100% 
Dividends from a stock company are normally sent to: 
Beneficiaries 
Shareholders 
Policy holders 
Insureds - CORRECT ANSWER-Shareholders 
Which of the following financial products creates an instant estate, no matter when the 
date of death? 
Mutual funds 
Life insurance 
Certificate of deposit 
Deferred annuity - CORRECT ANSWER-Life insurance 
Which of the following outlines the authority given to the produ...
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Ohio Property and Casualty Exam Questions & Answers 2023-24
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Ohio Property and Casualty Exam Questions & Answers 2023-24 
 
 
What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance 
 
What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. 
 
In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer 
 
Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...
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PRIMERICA LIFE INSURANCE EXAM | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 60 pages • 2024
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An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the 
insurance company that was not taxable. This year, she did not receive a check from the insurer. From 
what type of insurer did the insured purchase the policy? 
a. mutual 
b. reciprocal 
c. nonprofit service organization 
d. stock - A. mutual 
funds not paid out after paying claims and other operating costs are returned to the policy owners in the 
form of a dividend. if all funds are paid o...
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Primerica Life Insurance Exam Questions and Answers Already Passed
- Exam (elaborations) • 99 pages • 2023
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Primerica Life Insurance Exam Questions and Answers Already Passed 
An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? 
a. mutual 
b. reciprocal 
c. nonprofit service organization d. stock A. mutual 
funds not paid out after paying claims and other operating costs are returned to the po...
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
- Exam (elaborations) • 33 pages • 2024
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
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KY Property & Casualty Insurance Exam 2024 with 100% correct answers
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Faulty wiring in a home is an example of a: 
a) loss 
b) peril 
c) risk 
d) hazard - correct answer Hazard 
 
When a person buys insurance what method of handling risk has been undertaken? 
a) transfer 
b) reduction 
c) avoidance 
d) retention - correct answer Transfer 
 
In property and casualty insurance, insurable interest must exist: 
a) at the time a change is made to a policy 
b) at the time of policy application 
c) at the time of loss 
d) at the time of policy solicitation - correct...
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KENTUCKY ADJUSTER EXAM PREP EXAM QUESTIONS WITH COMPLETE VERIFIED ANSWERS LATEST UPDATES
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KENTUCKY ADJUSTER EXAM PREP EXAM QUESTIONS WITH COMPLETE VERIFIED ANSWERS LATEST UPDATES 
Insurance 
Transfers risk of financial losses from one party to another 
Insured 
Individual or organization that pays premiums in exchange for protection 
Insurer 
Company, group, or government agency offering financial protection 
Insurance policy 
A legally binding contract in which the insurer agrees to take on specified risks in exchange for the insured's premium. 
Principle of indemnity 
Restoration ...
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AZ Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A
- Exam (elaborations) • 36 pages • 2024
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AZ Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A 
 
Q: A life policy that has premiums that are lower than normal during the early years is called 
 Decreasing term 
 Modified life 
 Variable life 
 Limited-pay life 
 
 
Answer: 
Modified life 
 
 
Q: a material change in a modified endowment contract (MEC) results in 
the contract becoming void 
a new contestable period 
the seven pay test, adjustable for cash value, applies again 
a tax ...
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
- Exam (elaborations) • 33 pages • 2023
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
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