MD Accident, Health & Life Producer Questions and Answers 100% Solved

MD Accident, Health & Life Producer Questions and Answers 100% Solved An Alien Insurance company soliciting insurance in this state would accurately be described by which of the following? A. It must possess a Certificate of Authority from the NAIC, and it is organized under the laws of another country B. It must possess a Certificate of Authority from this state, and it is organized under the laws of another country C. It is organized under the laws of this state, and holds a Certificate of Authority from another country D. It is appointed by the Commissioner to do business in all states B. It must possess a Certificate of Authority from this state, and it is organized under the laws of another country An alien insurer is an insurance company that is incorportated outside the United States. In order for a stockholder to receive a dividend resulting from profits of their insurer she must own shares in a: A. Indemnity Insurer B. Stock Insurance Company C. Fraternal Insurance Exchange D. Mutual Insurance Company B. Stock Insurance Company An alien insurer is an insurance company that is incorportated outside the United States. In order for a stockholder to receive a dividend resulting from profits of their insurer she must own shares in a: A. Indemnity Insurer B. Stock Insurance Company C. Fraternal Insurance Exchange D. Mutual Insurance Company B. Stock Insurance Company Stock companies are owned by stockholders to whom earnings are distributed as taxable dividends on their shares. A producer who is appointed with more than one insurer is considered to be: A. An Authorized Producer B. A Managing General Agent C. A Licensed Solicitor D. An Independent Producer D. An Independent Producer An independent agent sells products from several companies. From the following which is an example of risk sharing? A. Doctors pooling their funds to cover malpractice exposures B. Robert choosing not to invest in stocks C. Bob that added more security to a high risk investment D. Greg that bought a policy to cover potential liabilities A. Doctors pooling their funds to cover malpractice exposures Doctors pooling their funds to cover malpractice exposures is an example of risk sharing. A unique characteristic of an insurance contract relates to which term? A. Homogeneous B. Law of Large Numbers C. Reinsurance D. Conditional D. Conditional In regard to the term conditional, certain conditions must be met before an insurance contract can be legally enforced. A statement made on an insurance application by a client become a part of an insurance contract and are considered to be: A. A representation B. A hazard C. A warranty D. A binding act A. A representation Representations are statements or answerws on an application. Which of the following relates to a non