An insurance company that sells insurance only to people who meet specific membership requirements is known as what kind of insurance company?

A) Stock.

B) Fraternal.

C) Mutual.

D) Reciprocal exchange.

Answer: B

Insurance Company Organization

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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A domestic insurer issuing variable contracts must establish one or more
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
All of these statements about the Waiver of Premium provision are correct EXCEPT
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What does the word "level" in Level Term describe?
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
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Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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Who is responsible for assembling the policy forms for insureds?
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What is the other term for the cash payment settlement option?
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What is the purpose of establishing the target premium for a universal life policy?
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