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Section 1.5 Quiz

1
Section 1.5 Review

When a stock life insurance company issues both participating and nonparticipating policies, it is referred to as a company doing business as a:

a)
b)
c)
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2

A is the cause of a risk. A is the source of danger.


Word bank: hazard, peril

A peril is the cause of a risk. A hazard is the source of danger.

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3

Stock insurers are owned by policyholders, whereas mutual insurers are owned by stockholders.

a)
b)
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4

Both stock and mutual companies can write life, health, and property and casualty insurance.

a)
b)
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5

In a reciprocal insurer structure, each policyholder insures the risks of the other policyholders.

a)
b)
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6

Risk retention groups are a form of mutual insurer.

a)
b)
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