1.1

Question 1

Puerto Rico, Guam, and the U.S. Virgin Islands are considered __________ insurers.

Answer 1

Foreign or Domestic

Question 2

Insurers are regulated on the ________ and are required to maintain adequate capital and company surplus to satisfy claims and annual expenses.

Answer 2

state level

Question 3

Also regulated by the states, insurance company investments are typically in ___________ , to ensure that the insurer receives positive returns on its investments.

Answer 3

lower risk bonds, such as corporate and municipal bonds

Question 4

To protect against insurer insolvency, each state’s insurance department mandates insurer compliance in reporting its financial condition and results of operations on a __________ basis.

Answer 4

quarterly and annual

Question 5

Quarterly reports must be filed with the department on or before _____________, and an annual audited report must be filed on or before ________ for the previous year ending on December 31st.

Answer 5

May 15th, August 15th and November 15th

March 1st