Mutual insurer Study guides, Class notes & Summaries
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![Florida 240 License exam questions with verified correct answers](/docpics/3437851/65036563cfda5_3437851_121_171.jpeg)
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Florida 240 License exam questions with verified correct answers
- Exam (elaborations) • 38 pages • 2023
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The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: 
Reserves 
 
 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the: 
Fair Credit Reporting Act 
 
 
 
A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: 
A fraternal benefit society 
 
 
 
What I the name...
![AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A](/docpics/4018699/657a170048b36_4018699_121_171.jpeg)
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AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A
- Exam (elaborations) • 18 pages • 2023 Popular
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AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A 
 
Q: Which one of the following is one of the covered causes of loss in the commercial property policy Causes of Loss—Basic form? 
 
 
Answer: 
Vandalism 
 
 
 
Q: Billy owns a baseball souvenir store in Cooperstown, NY. He insured his store under a Building and Personal Property Coverage Form (BPP) with a $275,000 limit and a $1,500 deductible. A large fire in ...
![Primerica Life Insurance Exam Questions and Answers Already Passed](/docpics/642ddc766b4d8_2558503.jpg)
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Primerica Life Insurance Exam Questions and Answers Already Passed
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Primerica Life Insurance Exam Questions and Answers Already Passed 
An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? 
a. mutual 
b. reciprocal 
c. nonprofit service organization d. stock A. mutual 
funds not paid out after paying claims and other operating costs are returned to the po...
![PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023](/docpics/63e4d50d41065_2353097.jpg)
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PRIMERICA LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023
- Exam (elaborations) • 42 pages • 2023
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PRIMERICA LIFE INSURANCE EXAM 
WITH 100% CORRECT ANSWERS 2023 
An insured purchased an insurance policy 5 years ago. Last year, she received a 
dividend check from the insurance company that was not taxable. This year, she did not 
receive a check from the insurer. From what type of insurer did the insured purchase 
the policy? 
a. mutual 
b. reciprocal 
c. nonprofit service organization 
d. stock - Correct answer-A. mutual 
funds not paid out after paying claims and other operating costs are re...
![MD Accident, Health & Life Producer Questions and Answers 100% Solved](/docpics/4357977/65b6be4101e7b_4357977_121_171.jpeg)
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MD Accident, Health & Life Producer Questions and Answers 100% Solved
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MD Accident, Health & Life Producer Questions and Answers 100% Solved 
An Alien Insurance company soliciting insurance in this state would accurately be described by which of the following? 
A. It must possess a Certificate of Authority from the NAIC, and it is organized under the laws of another country 
B. It must possess a Certificate of Authority from this state, and it is organized under the laws of another country 
C. It is organized under the laws of this state, and holds a Certificate of...
![Adjuster Pro - Insurance adjuster test latest 2023 already passed](/docpics/63eb4ce81cedc_2369548.jpg)
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Adjuster Pro - Insurance adjuster test latest 2023 already passed
- Exam (elaborations) • 31 pages • 2023
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Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss 
what is a premium a scheduled amount to be paid for an insurance policy. 
What are premiums used for premiums are collected into a "pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. 
what is Ind...
![Michigan Credit Insurance Producer Study Guide with Verified Solutions | Latest 2024/2025](/docpics/5057450/6623a5679e95f_5057450_121_171.jpeg)
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Michigan Credit Insurance Producer Study Guide with Verified Solutions | Latest 2024/2025
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Producer ️ licensed person who has the authority to sell, solicit, or 
negotiate insurance contracts 
Who has permission to cancel the license? ️ the commissioner 
Agent ️ person or corporation authorized to solicit insurance, collect 
premiums & transact insurance business on behalf of an insurance 
company 
Producer is appointed by who ️ appointed by the agent to represent the 
insurer & an insurer can cancel the appointment of agent 
DIFS ️ Dept of Insurance and Financial Services, ...
![NC Life Insurance Practice Exam Questions and Answers Already Passed](/docpics/6426fe228ad6c_2539151.jpg)
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NC Life Insurance Practice Exam Questions and Answers Already Passed
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NC Life Insurance Practice Exam Questions and Answers Already Passed 
All of the following are included within the Insurance Commissioner's duties EXCEPT 
a) Conducting investigation of all domestic insurers. 
b) Reviewing the insurers' annual reports. 
c) Writing North Carolina insurance laws. 
d) Reporting any violations of insurance laws to the Attorney General. Writing insurance law is not the Insurance Commissioner's responsibility, but enforcing the law is. c) Writing North Carolina ins...
![CA LIFE EXAM - PSI - Questions and Answers Latest 2024](/docpics/4879462/6608e34a6d3bc_4879462_121_171.jpeg)
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CA LIFE EXAM - PSI - Questions and Answers Latest 2024
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A participating company is also referred to as which type of insurer? - CORRECT 
ANSWER-Mutual insurer 
An insurer owned by its policyholders, is called a - CORRECT ANSWER-Mutual 
insurer 
What is a participating life insurance policy? - CORRECT ANSWER-Contract that 
allows the policyowner to receive a share of surplus in the form of policy 
dividends 
An insurer enter into a contract with a third-party to ensure itself against losses 
from insurance policies it issues. What is this agreement ca...
![FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)](/docpics/4114862/65918a359a3d4_4114862_121_171.jpeg)
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
- Exam (elaborations) • 33 pages • 2023
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
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