Finance

Why are some mutual insurers referred to as “assessment mutuals”? A)

Why are some mutual insurers referred to as “assessment mutuals”? A) They charge low premiums because the loss exposures of their insureds are thoroughly assessed before a policy is written. B) They are noted for being very thorough in their assessment of investment opportunities. C) They are assessed for state premium taxes only if they […]

Read full post

Date: September 19th, 2020

Which of the following statements about Lloyd’s of London is true? A)

Which of the following statements about Lloyd’s of London is true? A) Coverage is actually written by syndicates who belong to Lloyd’s of London. B) New individual members or Names who belong to the various syndicates have unlimited legal liability. C) It operates as an admitted insurer throughout the United States. D) It allows underwriters […]

Read full post

Date: September 19th, 2020

Which of the following statements about life insurance marketing syste

Which of the following statements about life insurance marketing systems is true? A) Insurance brokers are not permitted to sell life insurance. B) Some exclusive agents who market property and liability insurance also sell life insurance. C) Independent insurance agents are not permitted to market life insurance. D) Financial institutions such as banks are not […]

Read full post

Date: September 19th, 2020

Which of the following statements about the exclusive agency system fo

Which of the following statements about the exclusive agency system for marketing property and liability insurance is true? A) Exclusive agents typically have complete ownership of policy expirations. B) A higher commission rate is usually paid on exclusive agents’ renewal business than on new business. C) Exclusive agents represent several different insurance companies. D) New […]

Read full post

Date: September 19th, 2020

Which of the following statements about personal producing general age

Which of the following statements about personal producing general agents is (are) true? I. They often have the option of recruiting and training sub-agents. II. They are independent agents who produce substantial amounts of life insurance with one insurer. A) I only B) II only C) both I and II D) neither I nor II […]

Read full post

Date: September 19th, 2020