DELAWARE L&H EXAM WITH ALL
ANSWERS CORRECT
What bhis bhInsurance bh- bh bhcorrect bhanswer- bh bha bhcontract bhthat bhindemnifies
bhanother bhagainst bhloss. bhdamage, bhor bhliability bharising bhfrom bhan bhunknown
bhevent.
Indemnify bh- bh bhcorrect bhanswer- bh bhto bhmake bha bhperson bhwhole bhby bhrestoring
bhthat bhperson bhto bhthe bhsame bhfinancial bhposition bhthat bhexisted bhbefore bhthe bhloss
Property bhInsurance bh- bh bhcorrect bhanswer- bh bhprotects bhthe bhinsured bhagainst bhthe
bhfinancial bhconsequences bhof bhthe bhdirect bhor bhconsequential bhloss bhor bhdamage
bhto bhproperty bhof bhevery bhkind.
bhProperty bhinsurance bhpolicies bhcover bhthe bhrisk bhof bhdamage bhor bhloss bhto
bhproperty, bhwhich bhis bhde bhned bhas bhbuilding, bhequipment, bhstock, bhor bhcontents.
Casualty bhInsurance bh- bh bhcorrect bhanswer- bh bhProtects bhthe bhinsured bhagainst bhthe
bhfinancial bhconsequences bhof bhlegal bhliability, bhincluding bhthat bhfor bhdeath, bhinjury,
bhdisability, bhor bhto bhreal bhor bhpersonal bhproperty. bh
Casualty bhinsurance bhcontracts bhinclude bhautomobile bhpolicies, bhgeneral bhliability
bhpolicies, bhworkers' bhcompensation bhcoverage, bhcrime bhinsurance, bhsurety
bh(bonding), bhboiler bhand bhmachinery bhcoverages, bhand bhmany bhothers
,Life bhInsurance bh- bh bhcorrect bhanswer- bh bhInsurance bhcoverage bhon bhhuman bhlives,
bhincluding bhendowments bhand bhannuities, bhand bhmay bhinclude bhbenefits bhin bhthe
bhevents bhof bhaccidental bhdeath bhor bhdismemberment bhand bhbenefits bhfor bhdisability.
It bhis bhdesigned bhto bhprotect bhagainst bhthe bhrisk bhof bhpremature bhdeath.
Annuity bh- bh bhcorrect bhanswer- bh bh-provides bhguaranteed bhincome bhfor bhthe bhlife bhof
bhan bhannuitant. bh
-Designed bhto bhprotect bhagainst bhthe bhrisk bhof bhliving bhtoo bhlong- bhoutliving bhone's
bhfinancial bhresources bhduring bhretirment
Accident bhand bhhealth/sickness bhinsurance bh- bh bhcorrect bhanswer- bh bhprotects bhthe
bhinsured bhagainst bhfinancial bhloss bhcaused bhsickness, bhbodily bhinjury, bhor
bhaccidental bhdeath bhand bhmay bhinclude bhbenefits bhfor bhdisability bhincome
Credit bh- bh bhcorrect bhanswer- bh bhis bha bhlimited bhline bhof bhinsurance bhprotecting bhthe
bhinsured, bhwho bhis bhusually bha bhcreditor, bhagainst bhthe bhfinancial bhconsequences
bhshould bha bhdebtor bhbe bhunable bhto bhpay bhdebts bhas bha bhresult bhof bhillness bhor
bhdeath.
Stock bhInsurance bhCompany- bhStock bhInsurers bh- bh bhcorrect bhanswer- bh bhcompany
bhthat bhconsists bhof bhStockholders, bhalso bhknown bhas bhshareholders, bhwho bhown
bhshares bhin bhthe bhcompany. bh
A bhstock bhcompany bhis bhreferred bhto bhas bha bhNON-PARTICIPATING bhCOMPANY
bhbecause bhpolicy bhholders bhdo bhnot bhparticipate bhin bhdividends bhresulting bhfrom
bhstock bhownership.
Mutual bhInsurers bh- bh bhcorrect bhanswer- bh bhIn bha bhmutual bhcompany, bhthere bhare
bhno bhstockholders. bhownership bhrests bhwith bhthe bhpolicyholders. bh
sometimes bhreferred bhto bhas bhPARTICIPATING bhCOMPANIES bhbecause bhthe
bhpolicy bhowners bhparticipate bhin bhdividends.
Funds bhnot bhpaid bhout bhafter bhpaying bhclaims bhand bhnot bhused bhin bhpaying bhfor
bhother bhcosts bhof bhoperation bhmay bhbe bhreturned bhto bhthe bhpolicyholders bhin bhthe
bhform bhof bhPOLICY bhDIVIDENDS. bh
Dividends bhfrom bha bhmutual bhmay bhnever bhbe bhguaranteed bhand bhare bhnot bhtaxable.
Fraternal bhInsurers- bhFraternal bhbenefit bhsocieties bh- bh bhcorrect bhanswer- bh bhare
bhprimarily bhlife bhinsurance bhcarriers bhthat bhexist bhas bhsocial bhorganizations bhand
bhusually bhengage bhin bhcharitable bhand bhbenevolent bhactivities.
Fraternals bhare bhdistinguished bhby bhthe bhfact bhthat bhtheir bhmembership bhis bhusually
bhdrawn bhfrom bhthose bhwho bhare bhalso bhmembers bhof bha bhlodge bhor bhfraternal
bhorganization.
, They bhoperate bhunder bha bhspecial bhsection bhof bhthe bhstate bhinsurance bhcode bhand
bhreceive bhsome bhincome bhtax bhadvantages.
bhOne bhdistinctive bhcharacteristic bhof bhfraternal bhlife bhinsurance bhis bhthe bhopen
bhcontract, bhwhich bhallows bhfraternals bhto bhassess bhtheir bhcertificate-holders bh(charge
bhadditional, bhunscheduled bhpremiums) bhin bhtimes bhof bhfinancial bhdifficulty.
Domestic bhInsurers bh- bh bhcorrect bhanswer- bh bhA bhcompany bhis bha bhdomestic bhinsurer
bhin bhthe bhstate bhin bhwhich bhit bhis bhincorporated.
Foreign bhInsurer bh- bh bhcorrect bhanswer- bh bhA bhforeign bhinsurer bhis bhlicensed bhto
bhconduct bhbusiness bhin bhthe bhstates bh(DC bhor bhother bhUS bhterritories) bhother bhthan
bhthe bhone bhin bhwhich bhit bhis bhincorporated.
Alien bhInsurer bh- bh bhcorrect bhanswer- bh bhare bhcompanies bhincorporated bhin bha
bhcountry bhother bhthan bhthe bhUnited bhStates, bhD.C., bhor bhany bhUS bhterritorial
bhpossession
Authorized bh(Admitted) bhInsurer bh- bh bhcorrect bhanswer- bh bhmeans bhan bhinsurer bhthat
bhis bhentitled bhto bhtransact bhinsurance bhwithin bhthe bhstate, bhhaving bhcomplied bhwith
bhthe bhlaw bhand bhsatisfying bhall bhconditions bhto bhtransacting bhinsurance.
Unauthorized bh(Non-admitted) bhInsurer bh- bh bhcorrect bhanswer- bh bhmeans bhan
bhinsurer bhthat bhis bhnot bhentitled bhto bhtransact bhinsurance bhwithin bhthe bhstate
Producers bh- bh bhcorrect bhanswer- bh bhProducers bhmay bhfunction bhas bhagents,
bhrepresenting bhthe bhinsurance bhcompany
or bhas bhbrokers, bhrepresenting bhthe bhpotential bhinsured.
Producers bhacting bhas bhagents bhare bhnot bhonly bhcategorized bhby bhtheir bhfunction bhin
bhthe bhindustry bhbut bhalso bhby bhthe bhline bhof bhinsurance bhthey bhsell
Types bhof bhProducers bh- bh bhcorrect bhanswer- bh bhLife bhand bhHealth bhAgents
Property bhand bhCasualty bhAgents
Brokers
Solicitors
Insurance bhConsultants
Life bhand bhHealth bhAgents bh- bh bhcorrect bhanswer- bh bhGenerally, bhlife bhand bhhealth
bhinsurance bhagents bhrepresent bhthe bhinsurer bhto bhthe bhbuyer bhwith bhrespect bhto bhthe
bhsale bhof bhlife bhand bhhealth bhinsurance bhproducts.
The bhagents bhare bhappointed bhby bhthe bhinsurer, bhand bhusually bhthe bhagent's
bhauthority bhto bhrepresent bhthe bhinsurer bhis bhspecified bhin bhthe bhagency bhagreement
bhbetween bhthem, bhwhich bhis bha bhworking bhagreement bhbetween bhthe bhagent bhand
bhthe bhinsurer. bh
ANSWERS CORRECT
What bhis bhInsurance bh- bh bhcorrect bhanswer- bh bha bhcontract bhthat bhindemnifies
bhanother bhagainst bhloss. bhdamage, bhor bhliability bharising bhfrom bhan bhunknown
bhevent.
Indemnify bh- bh bhcorrect bhanswer- bh bhto bhmake bha bhperson bhwhole bhby bhrestoring
bhthat bhperson bhto bhthe bhsame bhfinancial bhposition bhthat bhexisted bhbefore bhthe bhloss
Property bhInsurance bh- bh bhcorrect bhanswer- bh bhprotects bhthe bhinsured bhagainst bhthe
bhfinancial bhconsequences bhof bhthe bhdirect bhor bhconsequential bhloss bhor bhdamage
bhto bhproperty bhof bhevery bhkind.
bhProperty bhinsurance bhpolicies bhcover bhthe bhrisk bhof bhdamage bhor bhloss bhto
bhproperty, bhwhich bhis bhde bhned bhas bhbuilding, bhequipment, bhstock, bhor bhcontents.
Casualty bhInsurance bh- bh bhcorrect bhanswer- bh bhProtects bhthe bhinsured bhagainst bhthe
bhfinancial bhconsequences bhof bhlegal bhliability, bhincluding bhthat bhfor bhdeath, bhinjury,
bhdisability, bhor bhto bhreal bhor bhpersonal bhproperty. bh
Casualty bhinsurance bhcontracts bhinclude bhautomobile bhpolicies, bhgeneral bhliability
bhpolicies, bhworkers' bhcompensation bhcoverage, bhcrime bhinsurance, bhsurety
bh(bonding), bhboiler bhand bhmachinery bhcoverages, bhand bhmany bhothers
,Life bhInsurance bh- bh bhcorrect bhanswer- bh bhInsurance bhcoverage bhon bhhuman bhlives,
bhincluding bhendowments bhand bhannuities, bhand bhmay bhinclude bhbenefits bhin bhthe
bhevents bhof bhaccidental bhdeath bhor bhdismemberment bhand bhbenefits bhfor bhdisability.
It bhis bhdesigned bhto bhprotect bhagainst bhthe bhrisk bhof bhpremature bhdeath.
Annuity bh- bh bhcorrect bhanswer- bh bh-provides bhguaranteed bhincome bhfor bhthe bhlife bhof
bhan bhannuitant. bh
-Designed bhto bhprotect bhagainst bhthe bhrisk bhof bhliving bhtoo bhlong- bhoutliving bhone's
bhfinancial bhresources bhduring bhretirment
Accident bhand bhhealth/sickness bhinsurance bh- bh bhcorrect bhanswer- bh bhprotects bhthe
bhinsured bhagainst bhfinancial bhloss bhcaused bhsickness, bhbodily bhinjury, bhor
bhaccidental bhdeath bhand bhmay bhinclude bhbenefits bhfor bhdisability bhincome
Credit bh- bh bhcorrect bhanswer- bh bhis bha bhlimited bhline bhof bhinsurance bhprotecting bhthe
bhinsured, bhwho bhis bhusually bha bhcreditor, bhagainst bhthe bhfinancial bhconsequences
bhshould bha bhdebtor bhbe bhunable bhto bhpay bhdebts bhas bha bhresult bhof bhillness bhor
bhdeath.
Stock bhInsurance bhCompany- bhStock bhInsurers bh- bh bhcorrect bhanswer- bh bhcompany
bhthat bhconsists bhof bhStockholders, bhalso bhknown bhas bhshareholders, bhwho bhown
bhshares bhin bhthe bhcompany. bh
A bhstock bhcompany bhis bhreferred bhto bhas bha bhNON-PARTICIPATING bhCOMPANY
bhbecause bhpolicy bhholders bhdo bhnot bhparticipate bhin bhdividends bhresulting bhfrom
bhstock bhownership.
Mutual bhInsurers bh- bh bhcorrect bhanswer- bh bhIn bha bhmutual bhcompany, bhthere bhare
bhno bhstockholders. bhownership bhrests bhwith bhthe bhpolicyholders. bh
sometimes bhreferred bhto bhas bhPARTICIPATING bhCOMPANIES bhbecause bhthe
bhpolicy bhowners bhparticipate bhin bhdividends.
Funds bhnot bhpaid bhout bhafter bhpaying bhclaims bhand bhnot bhused bhin bhpaying bhfor
bhother bhcosts bhof bhoperation bhmay bhbe bhreturned bhto bhthe bhpolicyholders bhin bhthe
bhform bhof bhPOLICY bhDIVIDENDS. bh
Dividends bhfrom bha bhmutual bhmay bhnever bhbe bhguaranteed bhand bhare bhnot bhtaxable.
Fraternal bhInsurers- bhFraternal bhbenefit bhsocieties bh- bh bhcorrect bhanswer- bh bhare
bhprimarily bhlife bhinsurance bhcarriers bhthat bhexist bhas bhsocial bhorganizations bhand
bhusually bhengage bhin bhcharitable bhand bhbenevolent bhactivities.
Fraternals bhare bhdistinguished bhby bhthe bhfact bhthat bhtheir bhmembership bhis bhusually
bhdrawn bhfrom bhthose bhwho bhare bhalso bhmembers bhof bha bhlodge bhor bhfraternal
bhorganization.
, They bhoperate bhunder bha bhspecial bhsection bhof bhthe bhstate bhinsurance bhcode bhand
bhreceive bhsome bhincome bhtax bhadvantages.
bhOne bhdistinctive bhcharacteristic bhof bhfraternal bhlife bhinsurance bhis bhthe bhopen
bhcontract, bhwhich bhallows bhfraternals bhto bhassess bhtheir bhcertificate-holders bh(charge
bhadditional, bhunscheduled bhpremiums) bhin bhtimes bhof bhfinancial bhdifficulty.
Domestic bhInsurers bh- bh bhcorrect bhanswer- bh bhA bhcompany bhis bha bhdomestic bhinsurer
bhin bhthe bhstate bhin bhwhich bhit bhis bhincorporated.
Foreign bhInsurer bh- bh bhcorrect bhanswer- bh bhA bhforeign bhinsurer bhis bhlicensed bhto
bhconduct bhbusiness bhin bhthe bhstates bh(DC bhor bhother bhUS bhterritories) bhother bhthan
bhthe bhone bhin bhwhich bhit bhis bhincorporated.
Alien bhInsurer bh- bh bhcorrect bhanswer- bh bhare bhcompanies bhincorporated bhin bha
bhcountry bhother bhthan bhthe bhUnited bhStates, bhD.C., bhor bhany bhUS bhterritorial
bhpossession
Authorized bh(Admitted) bhInsurer bh- bh bhcorrect bhanswer- bh bhmeans bhan bhinsurer bhthat
bhis bhentitled bhto bhtransact bhinsurance bhwithin bhthe bhstate, bhhaving bhcomplied bhwith
bhthe bhlaw bhand bhsatisfying bhall bhconditions bhto bhtransacting bhinsurance.
Unauthorized bh(Non-admitted) bhInsurer bh- bh bhcorrect bhanswer- bh bhmeans bhan
bhinsurer bhthat bhis bhnot bhentitled bhto bhtransact bhinsurance bhwithin bhthe bhstate
Producers bh- bh bhcorrect bhanswer- bh bhProducers bhmay bhfunction bhas bhagents,
bhrepresenting bhthe bhinsurance bhcompany
or bhas bhbrokers, bhrepresenting bhthe bhpotential bhinsured.
Producers bhacting bhas bhagents bhare bhnot bhonly bhcategorized bhby bhtheir bhfunction bhin
bhthe bhindustry bhbut bhalso bhby bhthe bhline bhof bhinsurance bhthey bhsell
Types bhof bhProducers bh- bh bhcorrect bhanswer- bh bhLife bhand bhHealth bhAgents
Property bhand bhCasualty bhAgents
Brokers
Solicitors
Insurance bhConsultants
Life bhand bhHealth bhAgents bh- bh bhcorrect bhanswer- bh bhGenerally, bhlife bhand bhhealth
bhinsurance bhagents bhrepresent bhthe bhinsurer bhto bhthe bhbuyer bhwith bhrespect bhto bhthe
bhsale bhof bhlife bhand bhhealth bhinsurance bhproducts.
The bhagents bhare bhappointed bhby bhthe bhinsurer, bhand bhusually bhthe bhagent's
bhauthority bhto bhrepresent bhthe bhinsurer bhis bhspecified bhin bhthe bhagency bhagreement
bhbetween bhthem, bhwhich bhis bha bhworking bhagreement bhbetween bhthe bhagent bhand
bhthe bhinsurer. bh
