Author: Anonymous

Dave and Meagan Philips borrowed $150,000 from Fifth National Bank to help fund the purchase of a new home. The home serves as collateral for the loan. Fifth National has an insurable interest in the home based on

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

Sarah owns a property and liability insurance agency. She is authorized to represent several insurance companies and she is compensated by commissions. Sarah’s agency owns the expiration rights to the business she sells. Sarah is a(n)

ABC Insurance Company would like to purchase a bank. For many years, ABC was not permitted under federal law to enter into banking operations. Which of the following legislative acts eliminated the prohibition that prevented banks, insurers, and investment firms from entering into one another’s markets?

The policyholders’ surplus of an insurer is defined as the difference between its

Antonio is a claims adjustor for LMN Insurance Company. After the insurer is notified that there has been a loss, Antonio meets with the insured. The first step in the claims process that Antonio should follow is to

A shortcoming of state regulation of insurance according to Congressional committees and the General Accounting Office is that state regulation

Which of the following statements about the regulation of insurance company investments is (are) true?I.The purpose of regulating insurance company investments is to prevent insurers from making unsound investments which could threaten their solvency.II.Life insurers can invest an unlimited amount of their assets in common stocks.

Which of the following statements is true regarding the information systems functional area of an insurance company?I.Computers and information systems are able to perform some tasks that previously were performed directly by employees. II.Information systems can speed the processing of policies by insurers.

Which of the following statements about reciprocal exchanges is (are) true?I.Reciprocal exchanges usually specialize in health insurance.II.Reciprocal exchanges are unincorporated mutual insurance companies.