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CSU BBA4226 unit II assessment




Duties that agents owe their principals are spelled out in the;Answer;insurer's instructions.;underwriting manual.;agency contract.;advertising brochures.;4 points;Question 2;The actuary is not responsible for which of the following;Answer;develop rates that are fair to all insureds.;calculate and analyze operating results or profits.;represent the insurance company's interest in lawsuits.;project the future based on historical results.;4 points;Question 3;Insurance marketing channels that include group sales, internet sales, and telephone sales all fall under;Answer;direct marketing.;direct writer.;adjusters.;underwriters.;4 points;Question 4;Which of the following statements about stock insurance companies is true?;Answer;Stockholders provide operating capital and receive dividends.;They are nonprofit organizations.;The insureds own the company.;They are more likely to provide lower-cost insurance than mutuals.;4 points;Question 5;Internet sales have been least successful providing;Answer;automobile insurance.;lower insurance costs.;term life insurance.;commercial insurance.;4 points;Question 6;Direct writing;Answer;describes the distribution system used by independent agents and brokers in the property/liability area.;is used only by life insurers.;is an expensive way to distribute insurance to high-income people.;describes a system of insurance company distribution using employee/agents.;4 points;Question 7;Insurance brokers are;Answer;compensated by a flat salary.;legally, agents of the insurance company.;only used in life insurance.;legally, agents of the insurance consumer.;4 points;Question 8;The primary difference between an insurance agent and an insurance broker is;Answer;their compensation scheme.;the parties they each legally represent.;the fringe benefits their employers provide.;there is a big difference, but it isn't one of the answer choices listed above.;4 points;Question 9;The term "HMO" means;Answer;Health Maintenance Organization.;Health Management Organization.;Healthy Mamas Organization.;High Maintenance Operation.;4 points;Question 10;Which of the following statements is false?;Answer;Factory mutuals insure only highly protected risks.;A stock insurance company is a profit-making venture in both life and property insurance.;Dividends are paid to stockholders of stock companies.;In stock companies, non-insured stockholders bear none of the risk of loss.;4 points;Question 11;Blue Cross and Blue Shield insurance organizations provide health insurance to millions of Americans. What is the difference between Blue Cross and Blue Shield? In what ways is Blue Cross insurance similar to the other kind of insurance? In what ways is it different? Please explain your answer.;Answer;Press Tab to enter the content editor. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).;Path: pWords:0;30 points;Question 12;Insurance agents and brokers bring buyers and sellers of insurance together. Are there any differences between an insurance agent and an insurance broker? Are these differences important to the insurance consumer? Why do life insurance agents and property insurance agents have different grants of authority? What factors should the consumer consider in choosing a property insurance agent? A life insurance agent?


Paper#20402 | Written in 18-Jul-2015

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