GA: Life Insurance Exam Questions and Answers 100% Pass

GA: Life Insurance Exam Questions and Answers 100% Pass
Question 1: Who elects the governing body of a mutual
insurance company?
CORRECT ANSWER: policyholders
Question 2: What year was the McCarran-Ferguson Act
enacted?
CORRECT ANSWER: 1945
Question 3: A nonprofit incorporated society that does not
have capital stock and operates for the sole benefit of its
members is known as:
CORRECT ANSWER: a fraternal benefit society
Question 4: The stated amount or percent of liquid assets
that an insurer must have on hand that will satisfy future
obligations to its policyholders is called:
CORRECT ANSWER: reserves

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