Georgia XCEL Solutions Life
Insurance | Questions with
Verified Answers | 100%
Correct| Latest 2025/2026.
Question:
When a policy pays dividends to its policyholders, it is said to be
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
-profitable
-mutual
-nonparticipating
-participating?
Answer:
-Participating
A participating policy is one in which insurance policies pay out dividends
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
to the policyholders.
i,- i,-
Question:
A nonprofit incorporated society that does not have capital stock and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
operates for the sole benefit of its members is known as:
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
-a fraternal benefit society
i,- i,- i,-
,-a stock insurer
i,- i,-
-a mutual insurer
i,- i,-
-the Life and Health Insurance Guaranty Association?
i,- i,- i,- i,- i,- i,-
Answer:
-a fraternal benefit society
i,- i,- i,-
A nonprofit incorporated society that does not have capital stock and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
operates for the sole benefit of its members is known as a fraternal
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
benefit society. i,-
Question:
Which of these describe a participating insurance policy?
i,- i,- i,- i,- i,- i,- i,-
-Policyowners are entitled to receive dividends i,- i,- i,- i,- i,-
-Policyowners pay assessments for company losses i,- i,- i,- i,- i,-
-Stock companies allow their policyowners to share in company earnings
i,- i,- i,- i,- i,- i,- i,- i,- i,-
-Policyowners are not entitled to vote for members of the board of i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
directors?
Answer:
-Policyowners are entitled to receive dividends i,- i,- i,- i,- i,-
A participating life policy is one in which the policyowner receives
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
dividends deriving from the company's divisible surplus.
i,- i,- i,- i,- i,- i,-
Question:
An insurance applicant MUST be informed of an investigation regarding
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
his/her reputation and character according to the:
i,- i,- i,- i,- i,- i,-
-State Guaranty Association
i,- i,-
,-Fair Labor Standards Board
i,- i,- i,-
-Fair Credit Reporting Act
i,- i,- i,-
-National Association of Insurance Commissioners?
i,- i,- i,- i,-
Answer:
-Fair Credit Reporting Act
i,- i,- i,-
The Fair Credit Reporting Act is a Federal law requiring an individual to be
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
informed if that individual is being investigated by an inspection company.
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
Question:
Dividends payable to a policyowner are
i,- i,- i,- i,- i,-
-guaranteed
-declared by the State i,- i,- i,-
-declared by the insurance company
i,- i,- i,- i,-
-strictly regulated? i,-
Answer:
-declared by the insurance company
i,- i,- i,- i,-
Dividends payable to a policyowner are declared by the insurance
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
company.
Question:
What type of reinsurance contract involves two companies automatically
i,- i,- i,- i,- i,- i,- i,- i,- i,-
sharing their risk exposure?
i,- i,- i,-
-Arbitrage
-Facultative
, -Excess
-Treaty?
Answer:
-Treaty
Under treaty reinsurance, each party automatically accepts specific
i,- i,- i,- i,- i,- i,- i,- i,-
percentages of the insurer's business. i,- i,- i,- i,-
Question:
What year was the McCarran-Ferguson Act enacted?
i,- i,- i,- i,- i,- i,-
-1944
-1945
-1946
-1947?
Answer:
-1945
The McCarran-Ferguson Act was enacted in 1945 and made it clear that
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
continued regulation of insurance by the states was in the public's best
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
interest.
Question:
What is the name of the law that requires insurers to disclose information
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
gathering practices and where the information was obtained?
i,- i,- i,- i,- i,- i,- i,-
-State Guaranty Association
i,- i,-
-Fair Labor Standards Board
i,- i,- i,-
Insurance | Questions with
Verified Answers | 100%
Correct| Latest 2025/2026.
Question:
When a policy pays dividends to its policyholders, it is said to be
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
-profitable
-mutual
-nonparticipating
-participating?
Answer:
-Participating
A participating policy is one in which insurance policies pay out dividends
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
to the policyholders.
i,- i,-
Question:
A nonprofit incorporated society that does not have capital stock and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
operates for the sole benefit of its members is known as:
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
-a fraternal benefit society
i,- i,- i,-
,-a stock insurer
i,- i,-
-a mutual insurer
i,- i,-
-the Life and Health Insurance Guaranty Association?
i,- i,- i,- i,- i,- i,-
Answer:
-a fraternal benefit society
i,- i,- i,-
A nonprofit incorporated society that does not have capital stock and
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
operates for the sole benefit of its members is known as a fraternal
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
benefit society. i,-
Question:
Which of these describe a participating insurance policy?
i,- i,- i,- i,- i,- i,- i,-
-Policyowners are entitled to receive dividends i,- i,- i,- i,- i,-
-Policyowners pay assessments for company losses i,- i,- i,- i,- i,-
-Stock companies allow their policyowners to share in company earnings
i,- i,- i,- i,- i,- i,- i,- i,- i,-
-Policyowners are not entitled to vote for members of the board of i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
directors?
Answer:
-Policyowners are entitled to receive dividends i,- i,- i,- i,- i,-
A participating life policy is one in which the policyowner receives
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
dividends deriving from the company's divisible surplus.
i,- i,- i,- i,- i,- i,-
Question:
An insurance applicant MUST be informed of an investigation regarding
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
his/her reputation and character according to the:
i,- i,- i,- i,- i,- i,-
-State Guaranty Association
i,- i,-
,-Fair Labor Standards Board
i,- i,- i,-
-Fair Credit Reporting Act
i,- i,- i,-
-National Association of Insurance Commissioners?
i,- i,- i,- i,-
Answer:
-Fair Credit Reporting Act
i,- i,- i,-
The Fair Credit Reporting Act is a Federal law requiring an individual to be
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
informed if that individual is being investigated by an inspection company.
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
Question:
Dividends payable to a policyowner are
i,- i,- i,- i,- i,-
-guaranteed
-declared by the State i,- i,- i,-
-declared by the insurance company
i,- i,- i,- i,-
-strictly regulated? i,-
Answer:
-declared by the insurance company
i,- i,- i,- i,-
Dividends payable to a policyowner are declared by the insurance
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
company.
Question:
What type of reinsurance contract involves two companies automatically
i,- i,- i,- i,- i,- i,- i,- i,- i,-
sharing their risk exposure?
i,- i,- i,-
-Arbitrage
-Facultative
, -Excess
-Treaty?
Answer:
-Treaty
Under treaty reinsurance, each party automatically accepts specific
i,- i,- i,- i,- i,- i,- i,- i,-
percentages of the insurer's business. i,- i,- i,- i,-
Question:
What year was the McCarran-Ferguson Act enacted?
i,- i,- i,- i,- i,- i,-
-1944
-1945
-1946
-1947?
Answer:
-1945
The McCarran-Ferguson Act was enacted in 1945 and made it clear that
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
continued regulation of insurance by the states was in the public's best
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
interest.
Question:
What is the name of the law that requires insurers to disclose information
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-
gathering practices and where the information was obtained?
i,- i,- i,- i,- i,- i,- i,-
-State Guaranty Association
i,- i,-
-Fair Labor Standards Board
i,- i,- i,-
