
Vocab words chapter 1
Quiz
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Business
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Professional Development
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Hard
Kaylee Hodge
Used 1+ times
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31 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An admitter or authorized insurer is an insurer who has receiver a certification of authority from a state's department of insurance authorizing them to conduct insurance business in that state.
admitted insurer
broker
captive insurer
certificate of authority
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ________ calculates policy rates, reserves, and dividends
Alien Insurer
Actuarial Department
Admitted Insurer
Broker
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An _______ in the United States is an insurer whose principal office and domiciled location is outside the country.
Admitted Insurer
Captive Insurer
Alien Insurer
Domestic Insurer
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _____ represents themselves and the insured (i.e., the client or customer).
Captive Insurer
Alien Insurer
Admitted Insurer
Broker
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ________ is an issuer established and owned by a parent firm for the purpose of insuring the parent firm's loss exposure
Domestic Insurer
Captive Insurer
Foreign Insurer
Industrial Insurer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ________ is a license issued to an insurer by a department of insurance (or equivalent state agency), which authorizes that company to conduct insurance business in that particular state
Claims Department
Certificate of authority
Divisible Surplus
Fraternal benefit Society
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ________ is responsible for processing, investigating, and paying claims
Claims Department
Domestic surplus
Claims surplus
insurance
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