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WV LIFE INSURANCE LAW FINAL EXAM WITH CORRECT ANSWERS

WV LIFE INSURANCE LAW FINAL EXAM
WITH CORRECT ANSWERS
Fraternal Benefit Societies - Incorporated society, order, or supreme
lodge, without capital stock, that operates solely for the benefit of its
members and under a lodge system with a ritualistic form of work
and benefit packages are only sold to members of the society
Reinsurance - The act of one insurer selling part of a policy to
another insurer where the original insurer is called the ceding
company, and the purchasing insurer is called the assuming
company
Domestic Insurance Company - An insurance company formed under
the laws of West Virginia, (Generally, home office is located in WV)
Foreign Insurance Company - An insurance company chartered in
another state, commonwealth, or territory of the United States
including Puerto Rico
Alien Insurance Company - An insurance company formed under the
laws of another country
Stock Insurance Company - Company is owned by stockholders
evidenced by shares of stock, and profits are distributed as
dividends to stockholders
Mutual Insurance Company - Company is owned by policyholders
and policy owners share in the insurer's divisible surplus in the form
of a policy dividend

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Specificaties

Niveau: University
School: Chamberlain College Of Nursing
Opleiding: NURSING
Document
Rubriek: Tentamens
Gemaakt op: 20-07-2024
Type: .pdf
Pagina's: 10
Taal: English

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