Reciprocal insurers - Study guides, Class notes & Summaries

Pure correct answers Insurance is defined as the transfer of ______________ risk to the insurance company in consideration for a premium. Pure Risk correct answers The chance of loss without any chance of gain is called ___________ Speculative Risk correct answers has the possibility for gain or loss and is not insurable. Risk correct answers is defined as the chance of loss. Exposure correct answers A condition that could result in a loss is known as Hazard correct answers is som...

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. - ANSWER c) Writing North Carolina insurance laws. Writing insurance law is not the Insurance ...

Who would be most likely to apply to the commissioner for a nonresident license? Answer Individual licensed in another state and who resides in that state What does a viatical settlement involve? Answer The sale of a life insurance policy In Montana, the _________ reviews and approves the insurance continuing education courses. Answer Comissioner A _________ insurer is one domiciled in another state. Answer Foreign In Montana, health insurance companies must provide maternity coverag...

Texas All Lines Adjuster Test Study Guide & Terms Accumulated Depreciation, Bailee, Claims-Made Form, Deductible - fixed, Estoppel, Federal Crop Insurance Act, Group Risk Income Protection (Crop Insurance), HIPAA, Impaired Property, Joint, Kickbacks, Legal Purpose, McCarren-Ferguson Act, National Resources Conservation Service, Occurrence Form Policy, Paul the Policyholder, Reciprocal Insurers, Scheduled payment release, Tort, Umbrella Liability Policy, Valuation, Waiver, Yield Protection (C...

NC Life Insurance Practice Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS 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 enforc...

risk avoidance correct answers occurs when individuals evade risk entirely risk reduction correct answers occurs when chances of risk are lessened risk retention correct answers is being aware of the risks involved and taking precautions for financial protection. risk transference correct answers is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical correct answers A bodily disease of endangerment, such as cancer, presents a _____...

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. - ANSWER c) Writing North Carolina insurance laws. Writing insurance law is not the Insurance ...

Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? Rebating arrangement Commingling contract Controlled business clause Producer contrac...

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 ...

NC Life Insurance Practice Exam Questions and Correct Answers 2024/2025 / Verified 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. - Correct An...