MICHIGAN LIFE AND HEALTH INSURANCE
EXAM 2026 ACTUAL EXAM QUESTIONS AND
ANSWERS SOLVED A+
◉ Alien Insurer. Answer: An insurer whose principal office and
domiciled location is outside the country
◉ Admitted Insurer. Answer: An admitted or authorized insurer is an
insurer who has received a certificate of authority from a state's
department of insurance authorizing them to conduct insurance business
in that state.
◉ Broker. Answer: Represents themselves and the insured (i.e. the
client, customer)
◉ Captive Insurer. Answer: an insurer established and owned by a
parent firm for the purpose of insuring the parent firm's loss exposure
◉ Certificate of Authority. Answer: A license issued to an insurer by a
department of insurance (or equivalent state agency), which authorizes
that company to conduct insurance business in that particular state.
◉ Claims Department. Answer: Responsible for processing,
investigating, and paying claims
, ◉ Divisible Surplus. Answer: The amount of earnings paid to
policyowners as dividends after the insurance company sets aside funds
required to cover reserves, operating expenses, and general business
purposes.
◉ Domestic Insurer. Answer: An insurer with its principle or home
office in a state where it is authorized
◉ Foreign Insurer. Answer: an insurer with its principal office or
domicile location in a state different from the state it is transacting
insurance business
◉ Fraternal Benefit Society. Answer: Non-profit benevolent
organization that provides insurance to its members. Based on religious,
national, or ethnic lines.
◉ Industrial Insurer. Answer: make up a specialized branch of the
industry, primarily providing policies with small face amounts with
weekly premiums. Other names for industrial insurers home service o
debt insurers.
◉ Insurance. Answer: The transfer of risk through the pooling or
accumulation of funds.
EXAM 2026 ACTUAL EXAM QUESTIONS AND
ANSWERS SOLVED A+
◉ Alien Insurer. Answer: An insurer whose principal office and
domiciled location is outside the country
◉ Admitted Insurer. Answer: An admitted or authorized insurer is an
insurer who has received a certificate of authority from a state's
department of insurance authorizing them to conduct insurance business
in that state.
◉ Broker. Answer: Represents themselves and the insured (i.e. the
client, customer)
◉ Captive Insurer. Answer: an insurer established and owned by a
parent firm for the purpose of insuring the parent firm's loss exposure
◉ Certificate of Authority. Answer: A license issued to an insurer by a
department of insurance (or equivalent state agency), which authorizes
that company to conduct insurance business in that particular state.
◉ Claims Department. Answer: Responsible for processing,
investigating, and paying claims
, ◉ Divisible Surplus. Answer: The amount of earnings paid to
policyowners as dividends after the insurance company sets aside funds
required to cover reserves, operating expenses, and general business
purposes.
◉ Domestic Insurer. Answer: An insurer with its principle or home
office in a state where it is authorized
◉ Foreign Insurer. Answer: an insurer with its principal office or
domicile location in a state different from the state it is transacting
insurance business
◉ Fraternal Benefit Society. Answer: Non-profit benevolent
organization that provides insurance to its members. Based on religious,
national, or ethnic lines.
◉ Industrial Insurer. Answer: make up a specialized branch of the
industry, primarily providing policies with small face amounts with
weekly premiums. Other names for industrial insurers home service o
debt insurers.
◉ Insurance. Answer: The transfer of risk through the pooling or
accumulation of funds.
