Insurance Concepts Exam 3
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Insurance Concepts Exam 3
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25 Questions

1. What is the type of insurance which pays for workers hurt in the course and scope of duty?
2. Which if the following is not an exclusion under a health policy?
3. Which of the following items is not a rating factor?
4. Why is a large number of exposure units generally required before a pure risk is insurable?
5. Most of the premiums collected by auto insurance companies:
6. If you have an insurance claim of $10,000 and your deductable is $500 how much do you owe the insurance company?
7. Medical malpractice insurance usually provides for
8. Which of the following types of risk best meets the requirements for being insurable by private insurers/
9. A rider in an insurance contract that increases the benefit amounts to keep pace with inflation is called
10. Property insurance does not cover?
11. The best way to protect a small child in an auto is
12. Risk is defined as
13. A higher deductable results in
14. The primary loss that results from disability is typically the
15. Which of the following is not one of the three main types of life insurance?
16. 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)
17. Which of the following is not a way to reduce auto insurance costs?
18. The purchase of insurance is a common form of
19. Any loss specifically not covered by a policy is a(n)
20. A type of short term insurance is
21. Which of the following does not improve auto safety?
22. What is a characteristic of term life insurance?
23. Another term for a salary continuation plan is
24. The likelihood an event will occur is called
25. An insurance agent who sells the products of only one insurance company is a(n)

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