BASIC PRINCIPLES OF LIFE AND HEALTH INSURANCE CHAP EXAM REVIEW 1 WITH CORRECT ANSWERS

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BASIC PRINCIPLES OF LIFE AND HEALTH INSURANCE CHAP EXAM REVIEW 1 WITH CORRECT ANSWERS

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2024/2025

Institution BASIC PRINCIPLES OF LIFE AND HEALTH INSURANCE CHAP

Course BASIC PRINCIPLES OF LIFE AND HEALTH INSURANCE CHAP

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What is a participating life insurance policy? - CorreCt Answers -Contract that allows the policyowner to receive a share of surplus in the form of policy dividends Which of the following is a contract that involves one party which indemnifies another when a loss arises from an unknown event? - CorreCt Answers -Insurance policy Which of the following statements regarding a life insurance policy dividend is TRUE? - CorreCt Answers -It is the distribution of excess of funds accumulated by the insurer on participating policies A type of insurer that is owned by its policyowners is called - CorreCt Answers -mutual Which of the following is an insurer established by a parent company for the purpose of insuring the parent company's loss exposures? - CorreCt Answers -Captive insurer Why are dividends from a mutual insurer not subject to taxation? - CorreCt Answers -Because dividends are considered to be a return of premium

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BASIC PRINCIPLES OF LIFE AND HEALTH
INSURANCE CHAP EXAM REVIEW 1 WITH
CORRECT ANSWERS.

What is a participating life insurance policy? - CorreCt Answers -Contract
that allows the policyowner to receive a share of surplus in the form of
policy dividends

Which of the following is a contract that involves one party which
indemnifies another when a loss arises from an unknown event? - CorreCt
Answers -Insurance policy

Which of the following statements regarding a life insurance policy
dividend is TRUE? - CorreCt Answers -It is the distribution of excess of
funds accumulated by the insurer on participating policies

A type of insurer that is owned by its policyowners is called - CorreCt
Answers -mutual

Which of the following is an insurer established by a parent company for
the purpose of insuring the parent company's loss exposures? - CorreCt
Answers -Captive insurer

Why are dividends from a mutual insurer not subject to taxation? - CorreCt
Answers -Because dividends are considered to be a return of premium

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Uploaded on: June 12, 2025
Number of pages: 3
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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BASIC PRINCIPLES OF LIFE AND HEALTH INSURANCE CHAP EXAM REVIEW 1 WITH CORRECT ANSWERS

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