Chapter 5 Types of Insurers and Marketing Systems

Chapter 5 Types of Insurers and Marketing Systems - 1 Which...

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Chapter 5  Types of Insurers and Marketing Systems 1) Which of the following statements about stock insurers is true? A) They issue assessable policies. B) They are not permitted to write property and liability insurance. C) Stockholders bear any losses and share in any profits. D) They are owned by their policyowners. Answer: C Question Status: Revised 2) Which of the following statements about mutual insurers is true? Question Status: Revised 3) Why are some mutual insurers referred to as ʺ assessment mutuals ʺ ? Question Status: Previous Edition 4) The corporate structure of mutual insurers is changing rapidly. All of the following are current trends EXCEPT Question Status: New Chapter 5 Types of Insurers and Marketing Systems 51 5) All of the following statements about fraternal insurers are true EXCEPT A) They are a form of mutual insurer. B) They specialize in writing property and liability insurance. C) They enjoy tax advantages because of their nonprofit or charitable status. D) They market their coverage to members of a social organization or religious group. Answer: B Question Status: Previous Edition 6) Which of the following statements about a reciprocal exchange is (are) true? I. It usually specializes in health insurance. II. It is an unincorporated mutual insurance company. Question Status: Revised
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7) Which of the following statements about Lloyd ʹ s of London is true? Question Status: Previous Edition 8) Temporary evidence of insurance until a policy is actually issued is provided by a(n) A) binder. B) brokerage agreement.
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