Reinsurer - Study guides, Class notes & Summaries
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Life & Health Insurance Exam Questions and Answers 100% Pass
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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...
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LOMA 281 Correct Questions & Answers(RATED A+)
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waiver of premium for payor benefit - ANSWER insurer waives renewal premiums if the policy owner, rather than the insured, dies or becomes totally disabled (must provide evidence of insurability) 
 
Contracts of Indemnity - ANSWER base benefits on the actual amount of the financial loss that results from a covered event when it occurs, subject to maximum limits (other than life insurance) 
 
Valued Contract - ANSWER life insurance policies which state the benefit payable at the time of the polic...
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RMI 3567 Exam 3 Questions and Answers(A+ Solution guide)
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Name four examples of alternative capital - Answer-Pension Plan 
Endowments 
Hedge Funds 
Alt. Asset Manager 
what is it called when a reinsurer transfers risk to another reinsurer? - Answer-Retrocession 
who is the reinsurer who the additional risk is ceded to? - Answer-Retrocessionaire 
Who is the primary or reinsurer who transfers the risk? - Answer-cedent 
Where are the top insurance markets? - Answer-US 
China 
Japan 
What is the US insurance market driven by? - Answer-property and casualty...
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Massachusetts Life and Health Insurance Exam Questions and Answers well Explained Latest 2024/2025 Update 100% Correct.
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Material Misrepresentation - - a false statement that changes the outcome of issuing a policy 
- generally with the health statement 
Surplus Lines - any type of insurance for which there is no available market within the state, and 
the coverage must be placed with a non admitted insurer 
Mutual Insurer - An insurer that is owned by its policyholders and formed as a corporation for the 
purpose of providing insurance to them.- Non Taxable dividends & Participating Polcies 
Insurance - Transfer ...
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RMI 3567 Exam 3 Questions with 100% Correct
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RMI 3567 Exam 3 Questions with 100% Correct 
Name four examples of alternative capital - Correct Answer ️️ -Pension Plan 
Endowments 
Hedge Funds 
Alt. Asset Manager 
what is it called when a reinsurer transfers risk to another reinsurer? - Correct Answer ️️ 
-Retrocession 
who is the reinsurer who the additional risk is ceded to? - Correct Answer ️️ - 
Retrocessionaire 
Who is the primary or reinsurer who transfers the risk? - Correct Answer ️️ -cedent 
Where are the top insuran...
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California Insurance Test Practice with Complete Solutions Already Passed
- Exam (elaborations) • 50 pages • 2023
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Accept or reject the whole group - During the underwriting process for a 
group health policy, it was discovered that 15 out of 50 members of the group have 
major health issues. How would the insurer handle this? 
A. Accept or reject the whole group 
B. Accept the 35 insurable individuals while rejecting the remaining 15 
C. Charge a higher premium to the 15 unhealthy individuals 
D. Assign the group to a reinsurer 
Contract that allows the policyowner to receive a share of surplus in the form ...
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Life & Health Insurance Exam Study Questions and Answers Top Graded 2024
- Exam (elaborations) • 33 pages • 2024
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Insurance - transfer of risk 
 
Speculative risk - has a possibility of both loss and gain 
 
Pure risk - only has a possibility of loss (no gain) 
 
Exposure - risks for which an insurance company would be liable 
 
expressed in units 
 
Peril - cause of a loss 
 
Hazard - an increase in the chance of loss 
 
Moral hazard - arise from people's character (faking a loss) 
 
Morale hazard - state of mind or careless attitude (accidentally leaving door unlocked) 
 
Methods of handling risk - STARR...
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LOMA 281 Module 1 Latest Update Graded A+
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LOMA 281 Module 1 Latest Update 
 
Graded A+ 
 
Risk the possibility of an unexpected result. 
 
Premium A specified amount of money an insurer charges in exchange for its agreement to 
pay a policy benefit when a specific loss occurs. 
 
Insurance company A company that provides protection against the risk of financial loss 
caused by specific events. 
 
Life insurance A type of insurance under which the insurer promises to pay a death benefit 
upon the death of a named person. 
 
Annuity A fin...
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LOMA 281 Correct Questions And Answers(GRADED A)
- Exam (elaborations) • 17 pages • 2024
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waiver of premium for payor benefit - ANSWER insurer waives renewal premiums if the policy owner, rather than the insured, dies or becomes totally disabled (must provide evidence of insurability) 
 
Contracts of Indemnity - ANSWER base benefits on the actual amount of the financial loss that results from a covered event when it occurs, subject to maximum limits (other than life insurance) 
 
Valued Contract - ANSWER life insurance policies which state the benefit payable at the time of the polic...
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CLU HS 323 Quiz Questions
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CLU HS 323 Quiz Questions 
 
Group assets according to their risk characteristics and establishing criteria to maintain 
prescribed ratios of holdings in each of these risk categories is called 
(A) portfolio risk management 
(B) riding the yield curve 
(C) categorical investment 
(D) segmentation of the general account - (D) segmentation of the general account 
 
Which of the following statements concerning current assumption whole life is correct? 
(A) It has a redetermination feature that rec...
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