Which of the following people represents several insurance companies but owns the policy expirations? Select one: O a. Direct writing agent O b. Exclusive agent O c. General agent O d. Independent agent
Q: Explain the four legal principles associated with insurance contracts in detail, stressing the…
A: Insurance is a contract, represented by a policy, in which a person or entity receives financial…
Q: Which of the following is NOT a business of life/non-life insurance firm? a. Property/casualty…
A: Life insurance: Phrase life insurance, moreover known as pure life insurance, is life protections…
Q: All are true about insurance agencies formed as corporationsor partnerships EXCEPT: A: All…
A: Transacting insurance is actual performing of insurance business. To discuss insurance products or…
Q: What are your recommendations for Insurance companies ?
A: 1.lapsation benifit to all 2. Reasonable refundable value 3. Single expense ratio
Q: The contract between insured and insurer is O a. Coverage O b. Face value Oc. Policy O d. Premium
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: - Which of the following receivables is allocated for? A) Receivables from partners B) Receivables…
A: The correct option is A) Receivables from partners
Q: The redeemable cash value of a life insurance policy (cash surrender value) where the insured is the…
A: The correct answer is Option (b).
Q: QUESTION 14 What information is contained in the insuring agreement of an insurance policy? O a…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Who are the target customer of insurance companies?
A: Future events are uncertain and unavoidable, due to which risk arises. There are various methods to…
Q: Eden Orchards, the insured under a policy with Farm Insurance LLC, files a claim for a covered loss.…
A: Answer
Q: ABC obtains life insurance from Entity BB (an insurance company). Entity A cedes 35% of the…
A: An insurance company can take insurance from another Insurance company by transferring Insurance…
Q: Profits of the insurance business are shared with Only with profit policy holders Only life…
A: Lets start with some understanding of with profit policy holder and without profit policy holders.…
Q: a) Which of the following is a financial instrument' as defined by MFRS 9? Give reasons for your…
A: Financial Instruments are contracts which include monetary transactions between different…
Q: 1. The significant risk that is transferred from the policyholder to the issuer of an insurance…
A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: . Which of the following is TRUE regarding a whole life insurance policy that pays a dividend?…
A: Please not th at as per the guidelines, I am required to answer only the first three questions.…
Q: what are the pros and cons of being insured by a mutual insurance company vs a stock insurance…
A: There are two types of insurance companies: mutual insurance company and stock insurance companies.…
Q: An insurance refers to a signed agreement between the insured and the insurer. a. Security b.…
A: In Insurance there are two parties, Insurer and Insured
Q: The policy holder who receives the coverage is called O a. Premium O b. Insured O. Face value O d.…
A: Insurance is a term used for the security provided in monetary terms by an insurance company to a…
Q: What is the consideration for the insurer in an insurance contract?
A: Contract: Contract is an agreement among two parties or more parties which includes enforceable…
Q: Insurance producers who must maintain Premium Fund Trust Accounts (PFTAS) may withdraw funds from…
A: The withdrawal from premium fund trust accounts are permitted for following purposes 1) As payment…
Q: The company selling the insurance policy is the _________________. a. Insurer b. Policy c. Premium…
A: Insurance is a means of protection from financial loss.
Q: Which of the following is an arrangement by which one party promises to pay a sum of money to…
A: Insurance is a contract between two parties where one party i,e policy holder pays a premium to…
Q: Which of the following actions represents consideration in an insurance contract? a. paying the…
A: Insurance contract is a contract entered between Policyholder (Insured) and the Insurance company…
Q: Which statement/s is/are correct? S1 PFRS permits the introduction of an accounting policy that…
A: Insurance contracts mix options of each a money instrument and a contract. Additionally, several…
Q: Which of the following is not one of the groupings of insurance contracts under PFRS 17? A. those…
A: International financial reporting standard 17 or IFRS 17 deals with the standards relating to…
Q: Which of the following would not appear in the asset section of an insurance company's balance…
A: Insurance company: For different forms of insurance coverage, insurance firms analyse the risk and…
Q: What is the main difference between stock life insurance companies and mutual life insurance…
A: Insurance companies are often organized as either a stock life company or a mutual company. In a…
Q: John Jones buys a renewable, convertible, nonparticipating term insurance policy. Explain the…
A: An insurance policy is that policy provides the monetary benefits to individual or family holder…
Q: In case of life insurance policies with profits, policy holders are given the right to participate…
A: Answer
Q: The life Insurance Solicitation regulation requires an insurer to provide which of the following…
A: Life Insurance Solicitation regulations are adopted by the Illinois Department of Insurance. This…
Q: How does the Insurance Commission assures the investing public on the safety of the Insurance…
A: As per US laws, insurance commission is formed in the states to protect the interest of the public.…
Q: How does insurance commission assures the investing public on the safety of the insurance products…
A: Insurance Commission is an amount paid to the broker or agent of insurance products for selling the…
Q: Which of the following characteristics is typical of group insurance? A.Each employee receives an…
A: Following are the characteristics of group insurance 1. It is a group contract that covers all the…
Q: he consideration paid by insured in a contract of in - premium C. prepaid insurance insurance…
A: The insurance companies do different kind of insurance for the companies depending on the risk and…
Q: what underwriting risk. what are two risks faced by insurance companies?
A: The underwriting risk is the risk which is borne by the underwriter due to the inaccurate…
Q: Entity A obtains life insurance for its key employee from Entity B (an insurance company). Entity B…
A: Account for Insurance Contract Here the actual facts which was incurred was Entity A can obtain life…
Q: Which of the following sections of a commercial general liability policy contains information about…
A: Insurance is the process through which an individual or corporation is provided financial coverage…
Q: The Director of Insurance has the power to. make reasonable insurance rules and regulations…
A: Insurance means a contract between two parties in which one party bears the risk of the other party…
Q: The declarations page of the Personal Auto Policy (PAP) includes all of the following, EXCEPT:…
A: Personal auto policy is insurance that covers your cars, bikes, commercial, etc. In simple language,…
Q: QUESTION 1 Explain the four legal principles associated with insurance contracts in detail,…
A: Insurance: It is a contract between two parties under which one party takes the responsibility to…
Q: explain five different parts of an insurance contracts and what purpose each serves. Give examples…
A: A contract for insurance is a legally binding agreement between two parties, one of whom is known as…
Q: 19. is the document that acknowledge the insured legally entitled to receive the payment from the…
A: Insurance is a financial mechanism that protects an insured asset from various risks. There are many…
Q: (Based on Appendix 12A) Whole-life insurance policies typically can be surrendered while the insured…
A: Cash surrender value: Companies purchase whole-life insurance policies on the lives of the key…
Q: Insurance companies perform functions that are similar to those of investment companies. * True or…
A: Insurance companies are those companies that have been formed in order to cover the loss of an asset…
Q: Insurance companies may use all of he following sources to oblain underwriting information about an…
A: Insurance is an agreement between the insurer and the insured, where the insurer agrees to pay an…
Q: STATE: Which of the following statements regarding homeowner's irsurance is true A. The listing…
A: Homeowner's insurance policy is the insurance policy for your home. It generally covers any…
Q: he contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face…
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: what is the role of the Insurance Core Principles as it relates to underwriting risks, in the…
A: It is very important to evaluate and regulate the insurance supervision. There will be flaws in the…
Q: Discuss in a report of , the following points: 1- Concept and types of insurance with a…
A: Insurance is basically a contract between two parties in which one party called insurance company…
Q: Explain why the Investment Portfolio structure (that is, the types of investment securities they…
A: Portfolio investment is defined as the ownership of bonds, stocks, and other financial assets along…
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- 1) Financial markets may be categorized as? A). debt securities markets B). Equity securities markets C). Derivative securities markets D). Foreign exchange markets. Required : Please answer this question by choosing the correct option.Which of the following is an example of long term instruments? (select all that apply) a. Asset backed securities b. Commercial paper С. Repo d. Treasury billUnder which of the following markets securities are newly issued? a. Primary Market b. Intermediary Market c. Money Market d. Bond Market
- Briefly describe the following types of derivative securities:1. Swaps2. Structured notes3. Inverse floatersa) Define Forwards and Futures. b)Explain the differences between these instruments and how these derivatives are used to mitigate risk. nb: answer question a and bDefine each following terms: m. Interest rate parity; purchasing power parity n. Eurocredits; eurodollar o. Eurobond; foreign bond
- a)explain current credit risk and potential credit risk. b)describe the primary methods of managing derivative credit risk. c)explain what is meant by netting, and discuss various forms of netting. d)define credit derivatives. e) describe the four primary types of credit derivatives: total return swap, credit swap/credit default swap, credit spread option, credit-linked securitya)describe the major differences between futures and forwards. b)describe delivery and settlement in derivative markets. c)describe financial engineering and hybrids. d)discuss the three presuppositions for a well-functioning financial market.Which of the following is NOT an external method of interest rate risk management? * A. Using an interest rate swap B. Using financial futures C. Using an off-balance-sheet strategy, such as a forward rate agreement D. Having fixed-interest assets financed by fixed-interest liabilities and equity
- Differentiate between money market and capital market securities by givingappropriate examples.Define the terms, or give short explanations. -arbitrage -business risk -call -cash market/spot market -derivative/derivative market -derivative securityDefine each of the following terms: a. Derivatives b. Enterprise risk management c. Financial futures; forward contract d. Hedging; natural hedge; long hedge; short hedge; perfect hedge; symmetric hedge; asymmetric hedge e. Swap; structured note f. Commodity futures