Ohio Personal Lines (Insurance Exam) Study Guide with Complete Solutions Latest Update 2026

Ohio Personal Lines (Insurance Exam) Study Guide with Complete Solutions Latest Update 2026 Stock Insurance Company - Correct Answer Issues non-participating policies and is owned by stockholders who received taxable corporate dividends as a return profit Reinsurance - Correct Answer The transfer of risk between insurance companies. The reinsurer assumes some or all of the risks of the ceding, or primary, insurance company Domestic - Correct Answer Insurer organized under the laws of the resident state Foreign - Correct Answer Insurer organized under the laws of another state within the United States Alien - Correct Answer Insurer oganized under the laws of a country outside of the United States Domicile - Correct Answer Refers to the state in which an insurer is incorporated Express - Correct Answer Authority that is written into the producers agency contract Implied - Correct Answer Authority that in which the public and the insurer assumes the agent possesses Apparent - Correct Answer Authority created when the agent exceeds express authority and the insurer does not respond FCRA - Correct Answer Protects consumer privacy by ensuring that any data collected by an insurer remains confidential, and is accurate, relevant, and used for a proper and specific purpose