AFSB 151 Practice Exam Q's | 135 Questions with 100% Correct Answers | Verified | 23 Pages

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A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and cla... sses of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is - ✔✔Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement has - ✔✔been performed as specified in the contract or when the bond has been canceled An organization that uses its collected data to calculate loss costs that member company underwriters use to determine premiums for risks is - ✔✔The SFAA [Show More]

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