Mutual company - Study guides, Class notes & Summaries

FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS Which of the following individuals MUST be licensed as an agent? - CORRECT ANSWER-A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - CORRECT ANSWER-The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary...

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 ...

What are the main services offered by financial institutions? A. Soliciting charitable donations and then managing the distribution of these funds B. Accepting a wide variety of deposits, offering investment products, providing loans, and brokering financial transactions C. Deciding which assets to invest in to create wealth in the future D. Evaluating sources of funding for a business project, the capital structure of a firm, or actions managers could take to increase the value of the fir...

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...

A participating company is also referred to as which type of insurer? - CORRECT ANSWER-Mutual insurer An insurer owned by its policyholders, is called a - CORRECT ANSWER-Mutual insurer What is a participating life insurance policy? - CORRECT ANSWER-Contract that allows the policyowner to receive a share of surplus in the form of policy dividends An insurer enter into a contract with a third-party to ensure itself against losses from insurance policies it issues. What is this agreement ca...

1. private insurers 2. government insurers - 2 types of entities providing insurance today 1. stock insurance companies 2. mutual insurance companies - the 2 largest types of commercial insurance companies Stock insurance companies - owned by stockholders, these companies dividends, when declared, to their stockholders. have minimum capital requirements and are governed by a board of directors elected by their stockholders Mutual insurance companies - owned by their policy owners; have no...

Kentucky Life Insurance State Exam Practice Questions with Certified Answers The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? Business expenses These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life...

Dave Ramsey Finance Chapter 12 Test with Complete Solutions Usually, the more liquid an asset is (like cash in the bank), the less return you can expect. true false True Be aware of any ____ you might receive, but don't bank on it as a key part of your retirement plan. A. Tax refunds B. Inheritance C. Bonus checks D. Additional work B The three components of compound growth are money, time and ____. A. A large paycheck B. Investments C. Retirement D. Rate of return ...

a domestic user will be examined by the commissioner at least once every ___ - 5 years. an insurance company owned by its policyholder is known as ___ - mutual insurance company. an insurance company headquartered in ohio, conducting business with west virginia is know as ___ - foreign insurer. agent wilson strikes a deal with his client: if the client agree to purchase homeowners insurance from agent wilson, wilson will waive the clients first premium payment. wilson is guilty of ___ - reb...

IFSTA Company officer Exam Questions and Answers 100% Pass Which of the following statements most accurately Reflects the concept of a company officer as a public servant A. Contact with the public only occurs in non-emergency situation B. The public may judge the entire organization by the company officers actions C. Unit personnel should focus solely on emergency response and not worry about public impressions D. Fire and emergency organization should not think of They are job as custo...