7/13/25, 11:56
AM
BDU CPCU 520 MODULE 1 EXAM QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED LATEST UPDATE GRADED A++
Terms in this set (29)
The two major types of insurers Cooperative and proprietary
by legal form of ownership
are:
The two major types of Admitted and non-admited
insurers by licensing status
are:
Which of the following statements Proprietary insurers are
is formed for the purpose of
correct regarding proprietary providing a profit for its
insurers? owners
Which of the following represents American Lloyd's
a type of cooperative insurer?
Which one of the following The main reason they are
statements is correct regarding formed is to provide
cooperative insurers? insurance coverage to policy
1/
13
, 7/13/25, 11:56
AM
owners
Which one of the following Admitted insurers are
statements is correct regarding insurers that are licensed to
the different types of do business in a particular
insurers? state
An insurance marketing system Direct writer marketing
that uses system
sales agents, who are the direct
employees of the insurer, is
referred to as a (n):
John is a subscriber in a Reciprocal insurance
cooperative insurer. The exchange
insurer was formed as an
unincorporated association,
and is
managed by an attorney-in-
fact. John and the other
subscribers have agreed to
insure each other, and share in
profits and losses in
proportion to the amount of
insurance
2/
13
AM
BDU CPCU 520 MODULE 1 EXAM QUESTIONS
AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED LATEST UPDATE GRADED A++
Terms in this set (29)
The two major types of insurers Cooperative and proprietary
by legal form of ownership
are:
The two major types of Admitted and non-admited
insurers by licensing status
are:
Which of the following statements Proprietary insurers are
is formed for the purpose of
correct regarding proprietary providing a profit for its
insurers? owners
Which of the following represents American Lloyd's
a type of cooperative insurer?
Which one of the following The main reason they are
statements is correct regarding formed is to provide
cooperative insurers? insurance coverage to policy
1/
13
, 7/13/25, 11:56
AM
owners
Which one of the following Admitted insurers are
statements is correct regarding insurers that are licensed to
the different types of do business in a particular
insurers? state
An insurance marketing system Direct writer marketing
that uses system
sales agents, who are the direct
employees of the insurer, is
referred to as a (n):
John is a subscriber in a Reciprocal insurance
cooperative insurer. The exchange
insurer was formed as an
unincorporated association,
and is
managed by an attorney-in-
fact. John and the other
subscribers have agreed to
insure each other, and share in
profits and losses in
proportion to the amount of
insurance
2/
13
