Massachusetts Life and Health
Insurance Exam with correct
answers 2025
Insurancev-vvcorrectvanswersvTransfervofvRisk
Riskv-vvcorrectvanswersvUncertainty/vPossibilityvofvLoss
Exposurev-vvcorrectvanswersvRisksvforvwhichvthevinsurancevcompanyvwouldvbevliable
Perilv-vvcorrectvanswersvCausevofvLoss
Hazardv-vvcorrectvanswersvSomethingvthatvcausesvanvincreasevinvthevchancevofvloss
PhysicalvHazardv-vvcorrectvanswersvHazardvthatvcanvbevseen
,MoralvHazardv-vvcorrectvanswersvAvbeliefvthatvintentionallyvcausingvavlossvisvacceptable
MoralevHazardv-vvcorrectvanswersvCarelessness
STARRv-vvcorrectvanswersvMethodvofvhandlingvrisk
S-vMethodvofvhandlingvrisksv-vvcorrectvanswersvSharing
T-vMethodvofvhandlingvriskv-vvcorrectvanswersvTransfer
A-vMethodvofvhandlingvriskv-vvcorrectvanswersvAvoidance
R-vMethodvofvhandlingvriskv-vvcorrectvanswersvRetention
R-vMethodvofvhandlingvriskv-vvcorrectvanswersvReduction
ContractvPolicyv-vvcorrectvanswersvAnvagreementvbetweenvthevinsuredvandvthevinsurer
LawvofvLargevNumbersv-
vvcorrectvanswersvThevlargervthevgroup,vthevmorevaccuratevlossesvcanvbevpredicted
CANHAMvRisksv-vvcorrectvanswersvCanvbevinsuredvwithvthevfollowingvcharacteristics
C-vCANHAMvRisksv-vvcorrectvanswersvCalculable
A-vCANHAMvRisksv-vvcorrectvanswersvAffordable
,N-vCANHAMvRisksv-vvcorrectvanswersvNon-vCatastrophic
H-vCANHAMvRisksv-vvcorrectvanswersvHomogeneous
A-vCANHAMvRisksv-vvcorrectvanswersvAccidental
M-vCANHAMvRisksv-vvcorrectvanswersvMeasurable
AdversevSelectionv-vvcorrectvanswersvrisksvthatvhavevavgreatervthanvaveragevchancevofvloss
Reinsurance-v-
vvcorrectvanswersvAnvinsurancevcompanyvsellsvsomevofvitsvriskvtovothervinsurancevcompanies.
FacultativevReinsurancev-
vvcorrectvanswersvthevreinsurervevaluatesveachvriskvbeforevallowingvthevtransfer
TreatyvReinsurancev-
vvcorrectvanswersvthevreinsurervacceptsvthevtransfervaccordingvtovanvagreementvcalledvavtreaty
StockvInsurerv-
vvcorrectvanswersvAnvinsurervthatvisvownedvbyvitsvstockholdersvandvformedvasvavcorporationvforvthe
vpurposevofvearningvavprofitvforvthevstockholders.-vIssuesvNonvParvPolicies
MutualvInsurerv-
vvcorrectvanswersvAnvinsurervthatvisvownedvbyvitsvpolicyholdersvandvformedvasvavcorporationvforvth
evpurposevofvprovidingvinsurancevtovthem.-vNonvTaxablevdividendsv&vParticipatingvPolcies
, FraternalvInsurerv-vvcorrectvanswersvprovidesvinsurancevandvothervbenefits
mustvbevavmembervofvthevsocietyvtovgetvthevbenefits
ReciprocalvInsurersv-
vvcorrectvanswersvunincorporatedvgroupsvofvpeoplevthatvprovidevinsurancevforvonevanothervthroug
hvindividualvindemnityvagreements
Llyod'svAssociationsv-
vvcorrectvanswersvOrganizationsvthatvprovidevsupportvfacilitiesvforvunderwritersvorvgroupsvofvindivi
dualsvthatvacceptvinsurancevrisk.
RiskvRetentionvGroupv-
vvcorrectvanswersvAvliabilityvinsurancevcompanyvownedvbyvitsvmembers,vwhichvarevexposedvtovsimi
larvliabilityvrisksvbyvvirtuevofvbeingvinvthevsamevbusinessvorvindustry.
RiskvPurchasingvGroupsv-
vvcorrectvanswersvGroupsvofvpeoplevwithvsimilarvinsurancevneedsvwhovformvanvorganizationvtovbuyv
insurancevasvavgroup.
Self-insurancev-vvcorrectvanswersvavbusinessvthatvpaysvitsvownvclaims
ResidualvMarketv-vvcorrectvanswersvinsurancevfromvthevstatevorvfederalvgovernment
InsurancevCompanyvLocationsv-vvcorrectvanswersvDomestic,vForeign,vandvAlien
CertificatevofvAuthorityv-vvcorrectvanswersvstatevlicensevforvanvinsurancevcompany
AdmittedvorvAuthorizedv-
vvcorrectvanswersvstatevrequiresvthevinsurancevcompanyvtovhavevavcertificatevofvauthority
Insurance Exam with correct
answers 2025
Insurancev-vvcorrectvanswersvTransfervofvRisk
Riskv-vvcorrectvanswersvUncertainty/vPossibilityvofvLoss
Exposurev-vvcorrectvanswersvRisksvforvwhichvthevinsurancevcompanyvwouldvbevliable
Perilv-vvcorrectvanswersvCausevofvLoss
Hazardv-vvcorrectvanswersvSomethingvthatvcausesvanvincreasevinvthevchancevofvloss
PhysicalvHazardv-vvcorrectvanswersvHazardvthatvcanvbevseen
,MoralvHazardv-vvcorrectvanswersvAvbeliefvthatvintentionallyvcausingvavlossvisvacceptable
MoralevHazardv-vvcorrectvanswersvCarelessness
STARRv-vvcorrectvanswersvMethodvofvhandlingvrisk
S-vMethodvofvhandlingvrisksv-vvcorrectvanswersvSharing
T-vMethodvofvhandlingvriskv-vvcorrectvanswersvTransfer
A-vMethodvofvhandlingvriskv-vvcorrectvanswersvAvoidance
R-vMethodvofvhandlingvriskv-vvcorrectvanswersvRetention
R-vMethodvofvhandlingvriskv-vvcorrectvanswersvReduction
ContractvPolicyv-vvcorrectvanswersvAnvagreementvbetweenvthevinsuredvandvthevinsurer
LawvofvLargevNumbersv-
vvcorrectvanswersvThevlargervthevgroup,vthevmorevaccuratevlossesvcanvbevpredicted
CANHAMvRisksv-vvcorrectvanswersvCanvbevinsuredvwithvthevfollowingvcharacteristics
C-vCANHAMvRisksv-vvcorrectvanswersvCalculable
A-vCANHAMvRisksv-vvcorrectvanswersvAffordable
,N-vCANHAMvRisksv-vvcorrectvanswersvNon-vCatastrophic
H-vCANHAMvRisksv-vvcorrectvanswersvHomogeneous
A-vCANHAMvRisksv-vvcorrectvanswersvAccidental
M-vCANHAMvRisksv-vvcorrectvanswersvMeasurable
AdversevSelectionv-vvcorrectvanswersvrisksvthatvhavevavgreatervthanvaveragevchancevofvloss
Reinsurance-v-
vvcorrectvanswersvAnvinsurancevcompanyvsellsvsomevofvitsvriskvtovothervinsurancevcompanies.
FacultativevReinsurancev-
vvcorrectvanswersvthevreinsurervevaluatesveachvriskvbeforevallowingvthevtransfer
TreatyvReinsurancev-
vvcorrectvanswersvthevreinsurervacceptsvthevtransfervaccordingvtovanvagreementvcalledvavtreaty
StockvInsurerv-
vvcorrectvanswersvAnvinsurervthatvisvownedvbyvitsvstockholdersvandvformedvasvavcorporationvforvthe
vpurposevofvearningvavprofitvforvthevstockholders.-vIssuesvNonvParvPolicies
MutualvInsurerv-
vvcorrectvanswersvAnvinsurervthatvisvownedvbyvitsvpolicyholdersvandvformedvasvavcorporationvforvth
evpurposevofvprovidingvinsurancevtovthem.-vNonvTaxablevdividendsv&vParticipatingvPolcies
, FraternalvInsurerv-vvcorrectvanswersvprovidesvinsurancevandvothervbenefits
mustvbevavmembervofvthevsocietyvtovgetvthevbenefits
ReciprocalvInsurersv-
vvcorrectvanswersvunincorporatedvgroupsvofvpeoplevthatvprovidevinsurancevforvonevanothervthroug
hvindividualvindemnityvagreements
Llyod'svAssociationsv-
vvcorrectvanswersvOrganizationsvthatvprovidevsupportvfacilitiesvforvunderwritersvorvgroupsvofvindivi
dualsvthatvacceptvinsurancevrisk.
RiskvRetentionvGroupv-
vvcorrectvanswersvAvliabilityvinsurancevcompanyvownedvbyvitsvmembers,vwhichvarevexposedvtovsimi
larvliabilityvrisksvbyvvirtuevofvbeingvinvthevsamevbusinessvorvindustry.
RiskvPurchasingvGroupsv-
vvcorrectvanswersvGroupsvofvpeoplevwithvsimilarvinsurancevneedsvwhovformvanvorganizationvtovbuyv
insurancevasvavgroup.
Self-insurancev-vvcorrectvanswersvavbusinessvthatvpaysvitsvownvclaims
ResidualvMarketv-vvcorrectvanswersvinsurancevfromvthevstatevorvfederalvgovernment
InsurancevCompanyvLocationsv-vvcorrectvanswersvDomestic,vForeign,vandvAlien
CertificatevofvAuthorityv-vvcorrectvanswersvstatevlicensevforvanvinsurancevcompany
AdmittedvorvAuthorizedv-
vvcorrectvanswersvstatevrequiresvthevinsurancevcompanyvtovhavevavcertificatevofvauthority
