Loma 291 exam - Study guides, Class notes & Summaries

LOMA 291 Exam Questions and Answers

LOMA 291 Module 1 Exam with correct Answers

LOMA 291 Exam with Complete Solutions 100% Pass Market conduct examination - Answer-A formal investigation of an insurer by one or more state insurance departments of an insurer's nonfinancial operations to determine whether those operations comply w applicable laws and regulations Comprehensive examination - Answer-A full scope examination of all nonfinancial aspects of an insurer's operations conducted by a state insurance department Target examination - Answer-A limited scope market...

LOMA 291 Module 1 Exam with Correct Answers Updated Regulators and rating agencies expect an insurer to have an ERM program - Answer-When evaluating a company, they review The quality and effectiveness of the company's ERM program The risks the company faces Its strategies for managing risks The following statements pertain to enterprise risk management in a typical financial services company. Select each correct statement. a. ERM targets not only risks that threaten a company's viabil...

LOMA 291 Module 1 Exam Questions and Answers (verified Answers)

Stakeholders (constituents) - ANSWERA party that has an interest in how a company conducts its business Dividend - ANSWERCompensation that a company may pay to owners upon a vote by thr company's board of directors Reinsurance - ANSWERInsurance that one insurance company, the direct writer, purchases from another insurance company, the reinsurer, to transfer all or part of the risk on insurance policies that the direct writer issued Inside directors - ANSWERA member of the board of dir...

Stakeholders (consituents) - ANSWERA party that has an interest in how a company conducts its business. Also known as a constituent. Dividend - ANSWERCompensation that a company may pay to owners upon a vote by the company's board of directors. Stockholder - ANSWERWe stockholders expect the company to grow steadily. We expect to earn a reasonable return, sometimes in the form of dividends. Do you know what a dividend is? Sometimes the board of directors votes to make a payment to the stoc...