We report a detailed analysis of data from static and dynamic light scattering experiments with polymer-like lecithin water-in-oil microemulsions. We show that a theoretical treatment of the static structure factor using concepts from polymer physics, which include chain statistics appropriate for excluded-volume interactions in semiflexible classical polymers, yields a quantitative description of the Q dependence of the scattering intensity I(Q) from the giant polymer-like lecithin reverse micelles present in these solutions. We demonstrate that we can study "internal" micellar chain dynamics and that the dynamic structure factor exhibits a universal behavior similar to classical polymer solutions.