Insurance

Insurance companies perform functions that are similar to those of investment companies. *True or False

A promise to grant a license is most likely indistinct if  [A] The license is not integral to the functionality of a tangible good. [B] The customer can benefit from the license separate from other related services. [C] This performance obligation is satisfied over the time. [D] The customer can benefit from the license on its own and the license is separately identifiable. [S1] The insurer of an insurance contract becomes the policy holder in a reinsurance contract. [S2] Retrocession is where the insurance risk is transferred from one reinsurer to another reinsurer. [A] both are true [B] both are false [C] S1 is true [D] S2 is true Goods on consignment should be included in the inventory of [A] The consignor but not the consignee, [B] Both the consignor and consignee. [C] The consignee but not the consignor. [D] Neither the consignor nor the consignee.   Which of the following is not a criterion required to recognize that a contract with a customer is created? [A] The contracting…

Insurance companies may use all of he following sources to oblain underwriting information about an applicant EXCEPT.   A.The Medical Information Bureau (MIB)   B.Inspection report companies   C.Actuarial raling bureaus   D.A Fair Credit report