LOMA 291 EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

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LOMA 291 EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Stakeholders (constituents) - Answer -A party that has an interest in how a company conducts its business Dividend - Answer -Compensation that a company may pay to owners upon a vote by thr company's board of directors Reinsurance - Answer -Insurance that one insurance company, the direct writer, purchases from another insurance company, the reinsurer, to transfer all or part of the risk on insurance policies that the direct writer issued Inside directors - Answer -A member of the board of directors who also holds a position within the company Outside directors (independent directors) - Answer -A member of the board of directors who does not bold a position within the company Ombudsman Program - Answer -An independent, impartial and confidential professional who provides ethical guidance on specific problems Line function - Answer -A department or other organizational unit that produces or administers products or services Ex. Product development, marketing, distribution & sales, underwriting & new business, customer service, reinsurance administration, claims Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com Support functions (staff function) - Answer -A department or other organizational unit that provides support services to line functions or to other support functions but does not produce or administer products Ex. Accounting & financial reporting, audit, corporate communications, legal & compliance, finance, HR, IT, treasury, risk management Vertical organization - Answer -An organization w a long chain of command and a narrow span of control Flat Organization - Answer -An organization w a short chain of command and a wide span of control. Also called a horizontal organization Organization by product - Answer -An organizational structure which arranged a company's major divisions according to the company's product lines Ex. Annuities & Life Insurance, Property & Casualty Insurance Organization by territory - Answer -An organizational structure which arranged a company's major divisions according to the geographic areas in which it operates Ex. Americas, Asia Pacific, Europe Organization by customer group - Answer -An organizational structure which arranges a company's major divisions according to the customer group each unit serves Ex. Group products (commercial), Individual Business (personal) Organization by distribution channel - Answer -An organizational structure which arranges a company's major divisions according to the distribution channels that deliver products to customers Required return - Answer -The return an investor needs to earn in order to make the Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com