IISA CoP Practice Questions - IISA Certificate Of Proficiency Exam

What is the primary purpose of reinsurance in the insurance industry?

To allow policyholders to purchase multiple policies for the same risk To transfer part of an insurer's risk to another insurance entity to limit potential losses To bypass the regulatory oversight of the Financial Sector Conduct Authority (FSCA) To guarantee that the insurer will never experience any claims

Correct Answer:

To transfer part of an insurer's risk to another insurance entity to limit potential losses

Access more questions from this quiz

Continue to IISA CoP Practice Questions - IISA Certificate of Proficiency Exam for more practice questions and the full quiz experience.

Access More Questions