CALIFORNIA LIFE ONLY
K
C
EXAM PSI QUESTIONS AND
LO
CORRECT VERIFIED
ANSWERS 100% GUARANTEED
YC
PASS A+ GRADED
D
U
ST
, A participating company is also referred to as which type of insurer? - ANS Mutual insurer
An insurer owned by its policyholders, is called a - ANS Mutual insurer
What is a participating life insurance policy? - ANS Contract that allows the policyowner to
receive a share of surplus in the form of policy dividends
An insurer enter into a contract with a third-party to ensure itself against losses from insurance
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policies it issues. What is this agreement called? - ANS Reinsurance
John owns an insurance company that gives him the right to share and then sure surplus. What
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kind of policy is this? - ANS Participating
Which of the following is not a characteristic of reinsurance? - ANS Increases the unearned
LO
premium reserved
Which of the following is not a benefit of insurance? - ANS Losses due to fraud are eliminated
When a mutual insurer becomes a stock company, the process is called - ANS
YC
Demutualization
Which of the following is a contract that involves one party which indemnifies another one a loss
arises from an unknown event? - ANS Insurance policy
Which of the following is an insurer established by a parent company's loss exposure's? - ANS
D
Captive insurers
Which of the following is not considered to be a definition for the term "loss"? - ANS Probability
U
that an event will occur
Which of the following is not considered a definition of a risk? - ANS The cause of loss
ST
Which of the following best describes the statement; " the more times, and event is repeated,
the more predictable the outcome becomes"? - ANS Law of large numbers
Which of the following would not be accomplished with the purchase of an insurance policy? -
ANS Risk is eliminated
Which of the following is a situation where there is a possibility of either a loss or gain? - ANS
Speculative risk
Which of the following is any situation that presents the possibility of a loss? - ANS Loss
K
C
EXAM PSI QUESTIONS AND
LO
CORRECT VERIFIED
ANSWERS 100% GUARANTEED
YC
PASS A+ GRADED
D
U
ST
, A participating company is also referred to as which type of insurer? - ANS Mutual insurer
An insurer owned by its policyholders, is called a - ANS Mutual insurer
What is a participating life insurance policy? - ANS Contract that allows the policyowner to
receive a share of surplus in the form of policy dividends
An insurer enter into a contract with a third-party to ensure itself against losses from insurance
K
policies it issues. What is this agreement called? - ANS Reinsurance
John owns an insurance company that gives him the right to share and then sure surplus. What
C
kind of policy is this? - ANS Participating
Which of the following is not a characteristic of reinsurance? - ANS Increases the unearned
LO
premium reserved
Which of the following is not a benefit of insurance? - ANS Losses due to fraud are eliminated
When a mutual insurer becomes a stock company, the process is called - ANS
YC
Demutualization
Which of the following is a contract that involves one party which indemnifies another one a loss
arises from an unknown event? - ANS Insurance policy
Which of the following is an insurer established by a parent company's loss exposure's? - ANS
D
Captive insurers
Which of the following is not considered to be a definition for the term "loss"? - ANS Probability
U
that an event will occur
Which of the following is not considered a definition of a risk? - ANS The cause of loss
ST
Which of the following best describes the statement; " the more times, and event is repeated,
the more predictable the outcome becomes"? - ANS Law of large numbers
Which of the following would not be accomplished with the purchase of an insurance policy? -
ANS Risk is eliminated
Which of the following is a situation where there is a possibility of either a loss or gain? - ANS
Speculative risk
Which of the following is any situation that presents the possibility of a loss? - ANS Loss
