1- Which of the following is the most correct when considering a reinsurance contract?

It is illegal

It is normally used when an insurer's premium volume has exceeded the amounts specified by the California Department of Insurance

It is used to allow an insurance company to write insurance in excess of it's retention limits

It is used only with a fraternal benefit society

2-

Of the following, all do not allow a policyowner's entitlement to declared divisible surplus of the insurer by means of a "participating policy" except:

A stock insurance company

An interinsurance exchange

A mutual company

An assessment company

3-

A company not allowing a policyowner the entitlement to receive divisible surplus (dividends) is:

A stock insurance company

A reciprocal exchange

An interinsurance exchange

A mutual insurance company