Question: Which of the following financial products creates an instant estate, no matter when the date of death?

Answer: Life insurance

Question: Which of the following is a syndicate established by a group of insurers to share underwriting duties?

Answer: Lloyd’s orgaization

Question: Which reinsurance contract between two insurers involves an automatic staring of the risks assumed?

Answer: Treaty reinsurance

Question: An agent’s authority to bind an insurer to an insurance contract may be granted in the…

Answer: Agent’s contract and the insurance company’s appointment

Question: Which of the following types of insurers limits the exposures it writes to those of its owners?

Answer: Captive insurer

Question: Which group is the Do Not Call Registry designed to protect against?

Answer: Telemarketers

Question: Who regulates an insurer’s claim settlement practices?

Answer: State insurance departments

Question: What is the accounting measurement of an insurance company’s future obligations to its policyowners?

Answer: Reserves

Question: A stock insurance company is owned by its…

Answer: Shareholders

Question: Insurance is NOT characterized as which of the following?

Answer: As the number of insureds increases the number of of losses decreases