Question 1

An insurance company incorporated in another state has been licensed to operate in your state.In your state,the insurer would be considered a(n)

Accepted Answer

A) nonadmitted insurer. 
B) foreign insurer. 
C) alien insurer. 
D) reciprocal insurer. 
A) nonadmitted insurer. 
B) foreign insurer. 
C) alien insurer. 
D) reciprocal insurer.

Question 2

All of the following are arguments in favor of using an applicant's credit record in personal lines underwriting EXCEPT

Accepted Answer

A) Most consumers have good credit records and benefit when credit history is used as a rating factor. 
B) Use of credit data in underwriting or rating discriminates against certain groups. 
C) Underwriting and rating may be more consistent if applicants' credit histories are considered. 
D) There is high correlation between an applicant's credit record and future claims experience. 
A) Most consumers have good credit records and benefit when credit history is used as a rating factor. 
B) Use of credit data in underwriting or rating discriminates against certain groups. 
C) Underwriting and rating may be more consistent if applicants' credit histories are considered. 
D) There is high correlation between an applicant's credit record and future claims experience.

Question 3

Under what type of rate regulation are insurers required to obtain approval of rates before using them if the rate change exceeds a specified predetermined range?

Accepted Answer

A) flex-rating law 
B) prior-approval law 
C) file-and-use law 
D) use-and-file law 
A) flex-rating law 
B) prior-approval law 
C) file-and-use law 
D) use-and-file law

Question 4

The major reasons for insurer insolvency include which of the following?
I.Inadequate pricing and loss reserves.
II.Rapid growth and inadequate surplus.

Accepted Answer

A) I only 
B) II only 
C) both I and II 
D) neither I nor II 
A) I only 
B) II only 
C) both I and II 
D) neither I nor II

An insurance company incorporated in another state has been licensed to operate in your state.In your state,the insurer would be considered a(n)

All of the following are arguments in favor of using an applicant's credit record in personal lines underwriting EXCEPT

Under what type of rate regulation are insurers required to obtain approval of rates before using them if the rate change exceeds a specified predetermined range?

The major reasons for insurer insolvency include which of the following? I.Inadequate pricing and loss reserves. II.Rapid growth and inadequate surplus.

Risk in Our Society

Insurance and Risk

Introduction to Risk Management

Advanced Topics in Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Homeowners Insurance,section I

Homeowners Insurance,section Ii

Auto Insurance

Auto Insurance and Society

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters

Exam 8: Government Regulation of Insurance

An insurance company incorporated in another state has been licensed to operate in your state.In your state,the insurer would be considered a(n)

All of the following are arguments in favor of using an applicant's credit record in personal lines underwriting EXCEPT

Under what type of rate regulation are insurers required to obtain approval of rates before using them if the rate change exceeds a specified predetermined range?

The major reasons for insurer insolvency include which of the following? I.Inadequate pricing and loss reserves. II.Rapid growth and inadequate surplus.

Risk in Our Society

Insurance and Risk

Introduction to Risk Management

Advanced Topics in Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Homeowners Insurance,section I

Homeowners Insurance,section Ii

Auto Insurance

Auto Insurance and Society

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters