Wisconsin Life Insurance Course question and answers rated A+

Wisconsin Life Insurance Course question and answers rated A+Stock Companies - correct answer -private organization focused to make profits for shareholders -Stock dividends are paid to stock holders -policyholders do not participate Mutual Companies - correct answer -have no stock holders -owners are policy owners -policy holders can vote for members of the board -policy owners receive dividends Lloyd's of London - correct answer -A syndicate of individuals who underwrite insurance Reinsurers - correct answer -are a specialized branch of the insurance industry because they insure insurers -reinsure risk to lessen it if a large claim would be made 1945 McCarren-Ferguson Act - correct answer Insurance would be regulated by the states but would conform to federal anti trust laws 1970 Fair Credit Reporting Act - correct answer which is the authority that requires fair and accurate reporting of information about consumers, including applicaitons for insurance. Insurers must inform applicants about any investigations that are being made NAIC - correct answer All State insurance commisioners or directos are members Broad objectives 1. To encourage uniformity in state insurance laws and regulations 2. To assist in the administration of those laws and regulations by promoting efficiency