XCEL LIFE INSUARANCE EXAM / LATEST CALIFORNIA
LIFE INSUARANCE EXAM ACTUAL EXAM QUESTIONS
AND WELL ELABORATED ANSWERS (100% CORRECT
VERIFIED ANSWERS) NEWEST EXAM 2024 |
GUARANTEED PASS. (BRAND NEW!!)
Which of the following accurately describes a participating insurance policy? -
ANSWER: Policyowners may be entitled to recieve dividends
Which group is the Do Not Call Registry designed to protect? - ANSWER:
Telemarketers
A group owned insurance company that is formed to assume and spread the liability
risks of its members is known as a - ANSWER: Risk retention group
Which of the following outlines authority given to the producer on behalf of the
insurer? - ANSWER: Producer Contract
Which of the following types of insurers limits the exposures it writes to those of its
owners? - ANSWER: Captive insurer
Dividends from a mutual insurance company are paid to whom? - ANSWER:
Policyholders
Which of the following is a syndicate established by a group of insurers to share
underwriting duties? - ANSWER: Lloyd's organization
When a ceding insurer transfers a portion of its risk to an assuming insurer on a case
by case basis, this process is referred to as? - ANSWER: Falcultative reinsurance
Which of the following is an unincorporated association whose members provide
coverage for one another? - ANSWER: Reciprical
A(n) agent is an insurance agent who represents ONE insurance company - ANSWER:
Captive
A reciprical insurer typically has an administrator who manages the premiums
collected from the groups members. This administrator is called a(n) - ANSWER:
Attorney - in - fact
Dividends from a stock insurance company are normally sent to - ANSWER:
Shareholders
A stock insurance company is owned by its - ANSWER: Shareholders
LIFE INSUARANCE EXAM ACTUAL EXAM QUESTIONS
AND WELL ELABORATED ANSWERS (100% CORRECT
VERIFIED ANSWERS) NEWEST EXAM 2024 |
GUARANTEED PASS. (BRAND NEW!!)
Which of the following accurately describes a participating insurance policy? -
ANSWER: Policyowners may be entitled to recieve dividends
Which group is the Do Not Call Registry designed to protect? - ANSWER:
Telemarketers
A group owned insurance company that is formed to assume and spread the liability
risks of its members is known as a - ANSWER: Risk retention group
Which of the following outlines authority given to the producer on behalf of the
insurer? - ANSWER: Producer Contract
Which of the following types of insurers limits the exposures it writes to those of its
owners? - ANSWER: Captive insurer
Dividends from a mutual insurance company are paid to whom? - ANSWER:
Policyholders
Which of the following is a syndicate established by a group of insurers to share
underwriting duties? - ANSWER: Lloyd's organization
When a ceding insurer transfers a portion of its risk to an assuming insurer on a case
by case basis, this process is referred to as? - ANSWER: Falcultative reinsurance
Which of the following is an unincorporated association whose members provide
coverage for one another? - ANSWER: Reciprical
A(n) agent is an insurance agent who represents ONE insurance company - ANSWER:
Captive
A reciprical insurer typically has an administrator who manages the premiums
collected from the groups members. This administrator is called a(n) - ANSWER:
Attorney - in - fact
Dividends from a stock insurance company are normally sent to - ANSWER:
Shareholders
A stock insurance company is owned by its - ANSWER: Shareholders
