1. What is reinsurance?

2. Mark has been an underwriter for twenty years. An application he recently reviewed looked odd to him. The building value in the application seemed far too high, and Mark suspected the applicant might be planning to destroy the property after it is insured. Mark contacted an outside firm and hired someone to investigate the applicant and to prepare a report about the applicant. This report is called a(n):

3. Which one of the following is not a way to reduce auto insurance costs?

4. COBRA is a law dealing with:

5. Which one of the following statements about mutual insurers is true?

6. Insurance authors have traditionally defined risk as:

7. A peril that involves pure risk is:

8. A life insurance company based in Canada was licensed to operate in Massachusetts. When operating in Massachusetts, the Canadian insurer would be considered a(n):

9. A higher deductible results in:

10. This federal retirement insurance program pays monthly benefits to eligible workers in retirement.

11. This type of auto insurance coverage pays for physical injuries sustained by the insured and passengers in the insured's auto.

12. In what career would a person develop business strategies and presentations to promote the sale of different insurance products?

13. The two major categories of automobile insurance are:

14. A false statement made by an applicant for insurance is an example of a:

15. The policy provision requiring the filing of proof of loss with the insurer is an example of a(n):

16. This is auto insurance coverage that compensates insured's for damages caused by someone with insufficient limits of coverage for the insured's losses.

17. By misrepresenting the true facts, Gretchen was able to convince a client to drop a life insurance policy with another company and to purchase a policy from the company that Gretchen represents. Gretchen has engaged in the practice of:

18. Which method would be more useful to discover a dollar estimate of losses?

19. Antonio is a claims adjustor for LMN Insurance Company. After the insurer is notified that there has been a loss, Antonio meets with the insured. The first step in the claims process that Antonio should follow is to:

20. A peril that relates to a dynamic risk is:

21. This cost is to rebuild a structure or replace a piece of destroyed property.

22. What is a decrease in or disappearance of value?

23. Abandoning an existing loss exposure is an example of:

24. This type of life insurance policy provides lifetime-long insurance protection.

25. Taylor Tobacco Company is concerned that the company may be held liable in a court of law and forced to pay a large damage award. The characteristics of the judicial system that increase the frequency and severity of losses is known as: