Insurance Exam- 0215 Life and Health annuities Exam
comprehensive questions | FREQUENTLY MOST TESTED
QUESTIONS AND VERIFIED SOLUTIONS @ 2026
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Terms in this set (168)
The stated amount or percent of liquid assets that an Reserves
insurer must have on hand that will satisfy future
obligations to its policyholders is called?
*Retention
*Surplus
*Reserves
*Credits
When a policy pays dividends to its policyholders, it is participating
said to be?
*Non-participating
*Participating
*Mutual
*Profitable
, Dividends payable to a policy owner are Declared by the insurance company
*Declared by the insurance company
*Strictly regulated
*Declared by the state
*Guaranteed
A nonprofit incorporated society that does not have Fraternal Benefit Society
capital stock and operates for the sole benefit of its
members is known as?
*A fraternal benefit society
*the life and health insurance guaranty association
*A mutual insurer
*A stock insurer
A group-owned insurance company that is formed to Risk Retention Group (RRG)
assume and spread the liability risks of its members is
known as a
*captive insurer
*risk assumption group
*risk retention group
*treaty insurer
What type of reinsurance contract involves two treaty
companies automatically sharing their risk exposure?
*Excess
*Treaty
*Facultative
*Arbitrage
What year was the McCarran-Ferguson Act enacted? 1945
*1947
*1945
*1946
*1944
At what point must a life insurance applicant be informed Upon completion of the application
of their rights that fall under the Fair Credit Reporting
Act?
Who elects the governing body of a mutual insurance Policyholders
company?
*Chairman of the board
*Policyholders
*stockholders
*Bondholders
If a contract of adhesion contains complicated language, the insured
to whom would the interpretation be in favor of?
comprehensive questions | FREQUENTLY MOST TESTED
QUESTIONS AND VERIFIED SOLUTIONS @ 2026
Save
Students also studied
EMT- Chapter 12- Pharmacology Surgical Tech: Chapter 10 Decontami... Chapter 18 - Sterilization and Protec... Chapte
30 terms 69 terms 20 terms 24 terms
EMT_GANG Preview portia_ejam Preview hkhdahir Preview jald
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (168)
The stated amount or percent of liquid assets that an Reserves
insurer must have on hand that will satisfy future
obligations to its policyholders is called?
*Retention
*Surplus
*Reserves
*Credits
When a policy pays dividends to its policyholders, it is participating
said to be?
*Non-participating
*Participating
*Mutual
*Profitable
, Dividends payable to a policy owner are Declared by the insurance company
*Declared by the insurance company
*Strictly regulated
*Declared by the state
*Guaranteed
A nonprofit incorporated society that does not have Fraternal Benefit Society
capital stock and operates for the sole benefit of its
members is known as?
*A fraternal benefit society
*the life and health insurance guaranty association
*A mutual insurer
*A stock insurer
A group-owned insurance company that is formed to Risk Retention Group (RRG)
assume and spread the liability risks of its members is
known as a
*captive insurer
*risk assumption group
*risk retention group
*treaty insurer
What type of reinsurance contract involves two treaty
companies automatically sharing their risk exposure?
*Excess
*Treaty
*Facultative
*Arbitrage
What year was the McCarran-Ferguson Act enacted? 1945
*1947
*1945
*1946
*1944
At what point must a life insurance applicant be informed Upon completion of the application
of their rights that fall under the Fair Credit Reporting
Act?
Who elects the governing body of a mutual insurance Policyholders
company?
*Chairman of the board
*Policyholders
*stockholders
*Bondholders
If a contract of adhesion contains complicated language, the insured
to whom would the interpretation be in favor of?
