Pennsylvania Life and Health Insurance Exam Practice Question
Which term describes an insurer operating in the state in which it is incorporated?
Correct Answer: A
Rationale: A: Domestic refers to an insurer that operates in the state where it is incorporated, reflecting its local presence and adherence to state regulations.
B: Foreign describes an insurer that operates in a state different from where it was incorporated, indicating cross-state operations rather than local presence.
C: Alien refers to an insurer incorporated outside the United States, emphasizing its international status rather than its domestic operations.
D: Admitted pertains to an insurer that has received authorization to operate in a specific state, but does not specify the insurer's incorporation location.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now