Fraternal benefit society Study guides, Class notes & Summaries
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![Florida 240 License exam questions with verified correct answers](/docpics/3437851/65036563cfda5_3437851_121_171.jpeg)
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Florida 240 License exam questions with verified correct answers
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The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: 
Reserves 
 
 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: 
Fair Credit Reporting Act 
 
 
 
A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: 
A fraternal benefit society 
 
 
 
What I the name...
![NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 actual exam](/docpics/4209214/65a16916d2cb6_4209214_121_171.jpeg)
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NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 actual exam
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NY Life, Accident, and Health Insurance 
Agent/Broker Exam Series 17-55 actual 
exam 
Process 2103 (d-i) - CORRECT ANSWER-1. The Superintendent may issue a license 
to any person, firm or corporation who has complied with the requirements of the 
Insurance Code, authorizing the licensee to act as agent of any authorized insurer. 
Every individual applicant for a license under this section and every proposed sublicensee must be 18 years of age or older at the time of issuance of such licens...
![NC Life Insurance Practice Exam Questions and Answers Already Passed](/docpics/6426fe228ad6c_2539151.jpg)
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NC Life Insurance Practice Exam Questions and Answers Already Passed
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NC Life Insurance Practice Exam Questions and Answers Already Passed 
All of the following are included within the Insurance Commissioner's duties EXCEPT 
a) Conducting investigation of all domestic insurers. 
b) Reviewing the insurers' annual reports. 
c) Writing North Carolina insurance laws. 
d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. c) Writing North Carolina ins...
![XCEL SOLUTIONS: Georgia Life-Only Pre-Licensing Questions and Answers 100% Pass](/docpics/5140050/662fa78829fbb_5140050_121_171.jpeg)
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XCEL SOLUTIONS: Georgia Life-Only Pre-Licensing Questions and Answers 100% Pass
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XCEL SOLUTIONS: Georgia Life-Only Pre-Licensing 
Questions and Answers 100% Pass 
When a policy pays dividends to its policyholders, it is said to be 
-profitable 
-mutual 
-nonparticipating 
-participating - Correct Answer ️️ --Participating 
A participating policy is one in which insurance policies pay out dividends to the 
policyholders. 
A nonprofit incorporated society that does not have capital stock and operates for the 
sole benefit of its members is known as: 
-a fraternal benefit s...
![GA Life Insurance Exam 2024 with 100% correct answers](/docpics/4641867/65e23a58bb72e_4641867_121_171.jpeg)
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GA Life Insurance Exam 2024 with 100% correct answers
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Who elects the governing body of a mutual insurance company? - correct answer policyholders 
 
What year was the McCarran-Ferguson Act enacted? - correct answer 1945 
 
A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: - correct answer a fraternal benefit society 
 
The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - corr...
![NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55| 200 QUESTIONS| GRADED A](/docpics/6333c99589ca9_1991114.jpg)
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NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55| 200 QUESTIONS| GRADED A
- Exam (elaborations) • 44 pages • 2022
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Process 2103 (d-i) Correct Answer: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sub-licensee must be 18 years of age or older at the time of issuance of such license. The person must submit to and pass a written examination required by the Superintendent. 
 ...
![214 FLORIDA INSURANCE ACTUAL EXAM WITH QUESTIONS AND ANSWERS VERIFIED](/docpics/4114893/65918d74b48d6_4114893_121_171.jpeg)
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214 FLORIDA INSURANCE ACTUAL EXAM WITH QUESTIONS AND ANSWERS VERIFIED
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Multi-Line Insurers - CORRECT ANSWER-________-______ Insurers are insurance 
carriers that offer more than one line of insurance. 
False - CORRECT ANSWER-True or False? Stock Insurance Companies are 
"participating" in that the policyholders receive dividends. 
Attorney-In-Fact - CORRECT ANSWER-Reciprocal Insurers are managed by an 
___________________. 
Association - CORRECT ANSWER-Contrary to popular opinion, Lloyd's of London is 
not an insurer but rather an ____________. 
Limits Catas...
![North Carolina XCEL Testing Life & Health Insurance Exam Study Guide with complete solution](/docpics/63ff4bdfd45cb_2424893.jpg)
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North Carolina XCEL Testing Life & Health Insurance Exam Study Guide with complete solution
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North Carolina XCEL Testing Life & Health Insurance Exam Study Guide with complete solution 
 
Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated: Answer>>1970 - Fair Credit Reporting Act 
 
What type of reinsurance contract involves two companies automatically sharing their risk exposure? Answer>>Treaty 
 
What is the name of the law that requires insurers to disclose information gathering practices and where ...
![NC Life Insurance Exam Study Guide with Complete Solutions Latest Updated 2024/2025](/docpics/4554681/65d4ecebcd022_4554681_121_171.jpeg)
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NC Life Insurance Exam Study Guide with Complete Solutions Latest Updated 2024/2025
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NC Life Insurance Exam Study Guide with Complete Solutions Latest Updated 2024/2025 
Fraternal Benefit Society - Correct Answer An organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. 
 
Fraternal Benefit Societies - Correct Answer Agents of these societ...
![Michigan Life Insurance State Exam Solved 100% Correct](/docpics/6425da06692a3_2535603.jpg)
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Michigan Life Insurance State Exam Solved 100% Correct
- Exam (elaborations) • 35 pages • 2023
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Under a traditional IRA, interest is taxed: 
 
Only if withdrawn prior to age 59 1/2 
 
According to the capital gains rate 
 
Upon distribution 
 
During the accumulation phase - ANSWER-Upon distribution 
 
Which of these statements concerning Traditional IRAs is CORRECT? 
 
Earnings are not taxable when withdrawn 
 
Earnings are taxable when withdrawn 
 
Contribution are never tax deductible 
 
Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn 
 
Wh...
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