Insurance Concepts Exam 2
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Insurance Concepts Exam 2
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25 Questions

1. Joseph was just named risk manager of Big Time Company. He decided to create a risk management program which considers all of the risks faced by his company—pure, speculative, operational, and strategic. Such a program is called a(n)
2. Which of the following items is not a rating factor?
3. The degree of risk is essentially the same concept as the chance of loss.
4. The best way to protect a small child in an auto is
5. An individual, usually but not always the buyer, who receives benefits from an insurance policy
6. Risk managers can discover previously unidentified loss exposures from on-site inspections.
7. Which if the following is not an exclusion under a health policy?
8. Which of the following does not improve auto safety?
9. Few medical doctors have to worry about being sued for negligent behavior.
10. Property insurance does not cover?
11. A premature death is one that occurs before a person is expected to die.
12. Abuses in insurance have been few and far between.
13. An agent’s license can be revoked for making misrepresentations about insurance.
14. Insurance is available for intentional torts such as slander.
15. Individuals are not responsible for diseases spread by their pets.
16. A type of short term insurance is
17. The likelihood an event will occur is called
18. Teenage drivers who have taken drivers education courses are much less likely to be involved in an auto accident.
19. Which of the following types of risk best meets the requirements for being insurable by private insurers/
20. A good personal risk management policy is to make a video recording of your personal property.
21. The primary loss that results from disability is typically the
22. Supervision of advertising programs of insurers is most likely to be under which department
23. A rider in an insurance contract that increases the benefit amounts to keep pace with inflation is called
24. Medical malpractice insurance usually provides for
25. An insurance agent who sells the products of only one insurance company is a(n)

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