ABA CTFA Practice Test - Questions Answers, Page 47
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The arrangements by which pools manage separate accounts for each pool member from which the losses of that member are paid is called:
The private pools can fall in which two categories:
Risk retention group is:
Insurance agents act as contractors in groups who express one or more entity with express authority to act for the entity in dealing with insured.
The methods used for the premium rates establishment are:
Spreading of risks among insurance entities is called:
The entity transferring the risk is called the ceding entity and the entity to which the risk is transferred is called the assuming entity.
What is applied to the sale of all or a block of an entity's insurance in force of another entity?
When no tax deductions are allowed if risks are not transferred, whereas premiums paid to insurers are tax deductible, this leads to the formation of:
Insurance entities establish ___________ to investigate and settle some or all of the claims of the member companies.
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