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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?

To ensure the company can meet its financial obligations Signup and view all the answers

What is a requirement for an agent to be licensed?

Reasonable education background, good moral character, and satisfactory training Signup and view all the answers

What is the effect of rebating in the insurance industry?

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

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

Php 200M Signup and view all the answers

What is the role of reserves in Insurance Companies?

To meet the company's financial obligations Signup and view all the answers

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

70% Signup and view all the answers

Types of Endowment Insurance Plans

Choose a study mode

Podcast

Questions and Answers

What is the primary role of the Insurance Commission?

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

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

What is the purpose of solvency in Insurance Companies?

What is a requirement for an agent to be licensed?

What is the effect of rebating in the insurance industry?

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

What is the role of reserves in Insurance Companies?

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

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