Xcel chapter 1 - Study guides, Class notes & Summaries

XCEL Chapter 1 Exam Review 2024 Questions and Answers 100% Pass A non-participating company is also called - Correct Answer ️️ -Stock insurer Contract that involves one party which indemnifies another when a loss arises from an unknown event - Correct Answer ️️ -Insurance policy A type of insurer that is owned by its policy owners is called - Correct Answer ️️ - Mutual Why are dividends from a mutual insurer not subject to taxation? - Correct Answer ️️ - Because dividends...

XCEL Chapter 1 Exam Review 2024 Questions and Answers Stock insurer - Correct Answer ️️ -A non-participating company is also called Insurance policy - Correct Answer ️️ -Contract that involves one party which indemnifies another when a loss arises from an unknown event Mutual - Correct Answer ️️ -A type of insurer that is owned by its policy owners is called Because dividends are considered to be a return of premium - Correct Answer ️️ -Why are dividends from a mutual ins...

XCEL CHAPTER 11 -EXAM QUESTIONS AND ANSWERS GRADED A+ If there is suspicion of an unauthorized person engaging in insurance business without being licensed. When may the commissioner issue an emergency cease and desist order? Reviewing and approving license applications Which of the following is a duty of the commissioner? The licensee's total premiums on controlled business exceeded the total premiums on all other business. A license is deemed to be used for controlled business if duri...

XCEL Chapter 1 Exam Review Graded A+ Stock insurer ️ A non-participating company is also called a stock insurer. Insurance policy ️ A contract that involves one party indemnifying another when a loss results from an unknown event. Mutual ️ A type of insurer that is owned by its policyholders is called a mutual insurer. Why are dividends from a mutual insurer not subject to taxation? ️ Because dividends are considered a return of premium. Participating life ins...

XCEL Chapter 1 Exam Review 2024 Questions and Answers 100% Pass A non-participating company is also called - Correct Answer ️️ -Stock insurer Contract that involves one party which indemnifies another when a loss arises from an unknown event - Correct Answer ️️ -Insurance policy A type of insurer that is owned by its policy owners is called - Correct Answer ️️ - Mutual Why are dividends from a mutual insurer not subject to taxation? - Correct Answer ️️ - Because dividends...

XCEL CHAPTER 11 EXAM QUESTIONS AND VERIFIED CORRECT ANSWERS GRADED A+ What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do? A. In the event of employment termination, group health insurance can be kept if the employee pays the premiums B. Receive a tax credit to help offset the cost of health insurance C. Remain on their current coverage for 30 months D. In the event of employment termination, group health insurance can be kept if the employ...

An insurance producer is BEST described as someone who A) sells, solicits, or negotiates insurance contracts for compensation on be behalf of a client B) sells, solicits, or negotiates insurance contracts for compensation on behalf of an insurer C) offers to examine any policy (for a fee) for the purpose of giving advice or recommendations D) Investigates insurance claims to determine the extent of the insurer's liability - ANSWER-B) sells, solicits, or negotiates insurance contracts for ...

XCEL Chapter 11 - Laws and Rules Final Exam. In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. This agreement is called a(n) - CORRECT ANSWER appointment what kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting order than an acute care unit of a ...

XCEL Chapter 11 Exam Questions with Correct Answers (1) What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do? A. In the event of employment termination, group health insurance can be kept if the employee pays the premiums B. Receive a tax credit to help offset the cost of health insurance C. Remain on their current coverage for 30 months D. In the event of employment termination, group health insurance can be kept if the employer pays the pre...

XCEL Chapter 1 Exam Review Questions And Answers Rated A+. Stock insurer - correct answer. A non-participating company is also called Insurance policy - correct answer. Contract that involves one party which indemnifies another when a loss arises from an unknown event Mutual - correct answer. A type of insurer that is owned by its policy owners is called Because dividends are considered to be a return of premium - correct answer. Why are dividends from a mutual insure...