GA Life Insurance Exam Ch. 1

Who elects the governing body of a mutual insurance company?

A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as

What type of reinsurance contract involves two companies automatically sharing their risk exposure?

Dividends payable to a policy owner are

A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a

When a policy pays dividends to its policyholders, it is said to be

What year was the McCarran-Ferguson Act enacted?

The stated amount or percentage of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called

Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated?

Which of these describe a participating insurance policy?