Reinsurer - Study guides, Class notes & Summaries

Stakeholders (consituents) - A party that has an interest in how a company conducts its business. Also known as a constituent. Dividend - Compensation that a company may pay to owners upon a vote by the company's board of directors. Stockholder - We 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 stockholders. The paym...

ARKANSAS HEALTH INSURANCE EXAM QUESTIONS & ANSWERS 100% CORRECTARKANSAS HEALTH INSURANCE EXAM QUESTIONS & ANSWERS 100% CORRECTARKANSAS HEALTH INSURANCE EXAM QUESTIONS & ANSWERS 100% CORRECT In order for a contract to be valid, it must: - ANSWER Contain an offer & acceptance When does a nondisabled person first qualify for a Medicare Supplement Policy? - ANSWER Age 65 A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called the: ...

Casualty Producer NJ- Exam Questions with correct Answers Powers and duties of Commissioner Conduct research Make reasonable rules and regulations Issue orders and notices Issue insurance licenses and certificates of authority Impose penalties Approve insurance policy forms and rates Amount of days notice before hearing 10 Retrocession When a reinsurer transfers risks it has accepted to another insurer Producers can be Agents, brokers or both Insurance agent a licensed insurance producer who is ...

LOMA 291 Module 1 with Complete Solutions Stakeholders (consituents) A party that has an interest in how a company conducts its business. Also known as a constituent. Dividend Compensation that a company may pay to owners upon a vote by the company's board of directors. Stockholder We 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 t...

Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score. (1)Surplus Lines premiums typically expand during: A) A soft Market B) A Hard Market - correct answers.A Hard Market. Surplus lines premiums typically expand during a hard market. (2) During the time of a hard market, insurers will: A) Tighten their underwriting standards B) Loosen their underwriting standards - correct answers.A) Tighten their underwriting standards. Tighten and ra...

Life & Health Insurance Exam Questions and Answers 100% Pass Insurance - Correct Answer ️️ -transfer of risk Speculative risk - Correct Answer ️️ -has a possibility of both loss and gain Pure risk - Correct Answer ️️ -only has a possibility of loss (no gain) Exposure - Correct Answer ️️ -risks for which an insurance company would be liable expressed in units Peril - Correct Answer ️️ -cause of a loss Hazard - Correct Answer ️️ -an increase in the chance of loss M...

Reinsurance - an insurance company (the ceding company) paying another insurance company (reinsurer) to take some of the company's risk •Reinsurers help spread the insurer's risk CANHAM - Elements of an insurable risk C - Calculable A - Affordable N - Non-catasrophic H - Homogenous A - Accidental M - Measurable Insurance - Transfer of risk from a person or business to an insurer Risk - Uncertainty / Possibility of a loss Exposure - Risks for which the insurance company would be l...

(1)Surplus Lines premiums typically expand during: A) A soft Market B) A Hard Market - A Hard Market. Surplus lines premiums typically expand during a hard market. (2) During the time of a hard market, insurers will: A) Tighten their underwriting standards B) Loosen their underwriting standards - A) Tighten their underwriting standards. Tighten and raise premiums. (3) A Ceding company (Choose all that apply): A) Is a primary insurer B) Is also a reinsurer C) Is always also a captive c...

NJ EXAM QUESTIONS WITH CORRECT SOLUTIONS Which of the following is NOT an unfair claims practice? - Correct Answer ️️ -A- Refusing to pay a claim without investigating it B-Failing to affirm or deny coverage of claims within a reasonable time after proof of loss C-Promptly acknowledging communications pertinent to a claim D-Misrepresenting pertinent policy facts or provisions to claimants C- Promptly acknowledging communications pertinent to a claim is required with respect to claim ...

Massachusetts Life and Health Insurance Exam Already Passed Insurance Transfer of Risk Risk Uncertainty/ Possibility of Loss Exposure Risks for which the insurance company would be liable Peril Cause of Loss Hazard Something that causes an increase in the chance of loss Physical Hazard Hazard that can be seen Moral Hazard A belief that intentionally causing a loss is acceptable Morale Hazard Carelessness STARR Method of handling risk S- Method of handling risks Sha...