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Types of Endowment Insurance Plans
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Types of Endowment Insurance Plans

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Questions and Answers

What is the primary role of the Insurance Commission?

  • To invest in real estate and stocks
  • To provide insurance coverage to policyholders
  • To adjudicate claims exceeding Php 100,000
  • To execute laws pertaining to insurance companies and matters (correct)

    • What is the minimum capitalization requirement for Insurance Companies in the Philippines?

  • Php 1M
  • Php 2B
  • Php 500,000
  • Php 1B (correct)

    • Which of the following is a characteristic of a policyowner in a Mutual Insurance Company?

  • An agent
  • A policyowner (correct)
  • An owner of a Stock Insurance Company
  • A shareholder

    • What is the purpose of solvency in Insurance Companies?

    <p>To ensure the company can meet its financial obligations</p> Signup and view all the answers

    What is a requirement for an agent to be licensed?

    <p>Reasonable education background, good moral character, and satisfactory training</p> Signup and view all the answers

    What is the effect of rebating in the insurance industry?

    <p>It is a form of Unethical Practice in the insurance industry</p> Signup and view all the answers

    What is the minimum amount of surplus required for Insurance Companies in the Philippines?

    <p>Php 200M</p> Signup and view all the answers

    What is the role of reserves in Insurance Companies?

    <p>To meet the company's financial obligations</p> Signup and view all the answers

    What is the maximum percentage of investment in real estate for Insurance Companies?

    <p>70%</p> Signup and view all the answers

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